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Be GD 3

The document discusses six tactics that small businesses can use to be more socially responsible and improve their business. [1] Partnering with local causes by donating prizes or services for fundraising events. [2] Donating part of profits to non-profits which can bring in new customers. [3] Implementing environmentally friendly practices like energy efficiency to appeal to customers. [4] Treating employees well through living wages and an inclusive workplace culture to improve customer service and retention. [5] Sourcing from other socially responsible suppliers to meet customer preferences. [6] Collaborating with social responsibility business groups to exchange ideas and potentially increase sales.

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44 views3 pages

Be GD 3

The document discusses six tactics that small businesses can use to be more socially responsible and improve their business. [1] Partnering with local causes by donating prizes or services for fundraising events. [2] Donating part of profits to non-profits which can bring in new customers. [3] Implementing environmentally friendly practices like energy efficiency to appeal to customers. [4] Treating employees well through living wages and an inclusive workplace culture to improve customer service and retention. [5] Sourcing from other socially responsible suppliers to meet customer preferences. [6] Collaborating with social responsibility business groups to exchange ideas and potentially increase sales.

Uploaded by

pankajkapse
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© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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GROUP DISCUSSION REPORT III

BUSINESS
ENVIRONMENT

Group Members
Sushant Madane 30 Pankaj Kapse 18
Bhimrao Jadhav 09 Ajit Shinde
Vitthal Tawade 51 Pravin Satpute
Six Socially Responsible Tactics That Grow
Your Small Business
It's a global trend: Consumers want to buy from, employees want to work for, and other
businesses want supplies from, socially responsible enterprises.

"Privately held businesses are adopting corporate social responsibility (CSR) policies not just to
save the planet but because they are having to in order to survive and prosper," according to the
Grant Thornton International Business Report, which is based on a survey of more than 7,400
companies around the world.

The reasons listed for adopting CSR policies? Recruitment and retention of employees, and cost-
management concerns. The conclusion: "Controlling costs is not only good for business but also
good for business ethics."

Small-business owners can use the CSR trend to improve their own businesses and stand out
from competitors by taking the following steps.

1. Partner with a cause

No matter where you're located, your community has a cause: a free clinic, a Little League team,
a coat drive for the homeless, a historic-restoration project. Small businesses can contribute to
those causes by such things as offering raffle prizes, providing in-kind services at a fund-raiser,
or serving as a drop-off point for that coat drive.

The smaller you are, the more important such partnerships can be: You get high visibility; good
vibes; and, depending on what you do, new walk-in traffic.

Just do your research first. Make sure the cause is one that matters to your target customers, and
inform them about how you are helping. Make sure your partner puts your name in its newsletter
and on event programs. Put up posters by your cash register and in your window.

2. Donate to nonprofits

Give part of your profits, whether for one night or on a regular basis, to a nonprofit or a
fundraising event, such as Pizza Night for Little League. Chances are, you'll get new customers
from among the nonprofit's supporters.

3. Go green

Changing your lightbulbs, cutting down on air-conditioning, and dimming the lights are cost-
saving strategies that should be advertised. Consumers like to shop at stores that are socially
responsible, environmentally conscious. Let them know you fill the bill.
4. Treat employees well

Fair employment practices are part of social responsibility. Employees who feel valued because
they are paid a living wage or treated as an asset in a startup will serve customers better and
generate a friendly atmosphere; they feel as if they have a stake in the success of the business.
They'll also come up with ideas and build relationships with customers. All of that is to your
advantage.

5. Buy from socially responsible suppliers

Businesses—big and small—have begun instituting CSR policies. That means they need to buy
from businesses that also have "clean" supply lines. Let that be you. And retail customers—
especially Generation Y and women—have indicated a strong preference, to the point of
switching, for businesses that are socially responsible. That includes nonsweatshop goods,
organic and Fair Trade, and locally grown.

6. Collaborate and communicate

Join business groups for socially responsible businesses in your community or sector. (In New
York City, for example, try Sustainable Business Network New York City
http://www.sbnyc.org/; members range from contractors to party planners.)

Your fellow business owners can give you ideas for improving your social responsibility, and
you may also increase your B2B sales.

***

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