In today’s society, CSR is still a new concept for businesses in Vietnam. However, CSR plays an extremely important role and brings many benefits to a business if it knows how to apply and develop it. So do you know what CSR is? What are the roles and benefits of using CSR?
What is CSR?
Corporate social responsibility (CSR) is a term in the field of business and law to refer to the commitment of economic entities to operate with professional ethics and not violate human conscience. . That is, businesses can still make profits but do not harm the core values of society, placing honesty and virtue above greed.
Why do businesses need to implement CSR?
Implementing social responsibility not only helps build the company’s image and reputation, but also brings many sustainable benefits not only to the business itself but also to the whole society. A successful business cannot thrive in a declining society. Therefore, developing business while contributing to improving the quality of social life is a necessary job.
If businesses only focus on short-term benefits and ignore the core values of society, sooner or later, they will lose the trust of customers and will no longer be able to stand firm in the fiercely competitive market. Currently. Therefore, implementing social responsibility is not only a moral duty but also the key to achieving sustainable development and business success.
Increase competitive advantage
Implementing social responsibility will help you build a genuine image for your business. This will contribute greatly to winning the hearts of customers. In business, nothing is more important than creating a good image in the eyes of customers.
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