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Why Corporate Responsibility?

"Corporate Responsibility should be seen as a journey, rather than a destination"
– The Business Case for CR, 2003
Corporate Responsibility (CR) is the manner by which an organization demonstrates fairness, social, environmental, economic, and ethical considerations in its values and activities as it seeks long-term business success. Corporate responsibility weighs the organization’s economic, environmental, and social impacts along with its relations with all stakeholders. It is a strategic approach that suggests that businesses voluntarily include social and environmental considerations in their decision-making process in order to ensure long-term success.

Corporate Responsibility – Why today more than ever?

Corporate Responsibility is a growing field, gaining momentum around the world and in Israel as well. Increased competition, alongside regulation, investor demands and transparency (as reflected in the digital world that we live in) amplifies the responsibility borne by managers to operate in a responsible manner. It also leads more and more corporations to the understanding that proper management of corporate responsibility contributes a great deal to corporate prosperity, growth, and proper management.Social and environmental involvement projects contribute to the company’s reputation, the community, the social license to operate (SLO), the employees’ sense of pride, and to cost savings. Ethics and corporate governance are even more important today as we see the immense power of social networks and the internet to expose huge corporations who failed to responsibly manage such matters. Nowadays, companies must create a sense that they are not just talking about ethical practice but that they are taking actual measures to operate under those practices.

What does Corporate Responsibility include?

Corporate Responsibility is a broad area, including multiple elements from various worlds of content. Inter alia, it includes caring for employees and the work environment, environmental quality and sustainability, stakeholder dialogue, partners and a responsible supply chain, ethics, corporate governance, civil rights, community involvement and employee volunteering, advertising, marketing, customer service and more.

Why should organizations integrate Corporate Responsibility considerations in their activities?

Through many years of work and knowledge in the field, we at Good Vision have witnessed dozens of organizations to which the decision to operate responsibly has contributed toward improving their results in various aspects, including the business aspect:
  • Risk Management
    • Organizations that consider corporate responsibility operate in a reasonable manner and significantly reduce their exposure to economic, environmental and social risks. Thus, for example, they encounter fewer legal claims, media scandals, etc.
  • Reputation
    • Corporate Responsibility positively impacts an organization’s image in the eyes of its partners, customers, authorities and the environment in which it operates. Responsible conduct, especially where it is reported and transparent to all, portrays the organization in a positive light and bolsters its reputation for the long term. Reputation is among the organization’s resources and is an effective growth engine.
  • Streamlining, cutbacks and savings
    • Actions taken as part of Corporate Responsibility have many positive implications in terms of streamlining and savings. Thus, for example, Corporate Responsibility not only contributes to sustainability, but also enables the organization to save on resources (energy, paper, water, etc.) and integrate an economical organizational culture among its employees.
  • Employee satisfaction and pride
    • Employees today are no longer satisfied with an economically and professionally rewarding and satisfying workplace. Many of them, led by Generation Y, seek a workplace that offers them meaning and an added value. Studies show that organizations that maintain an agenda of responsible conduct, are more in demand as workplaces. Employee volunteering not only contributes to the community, but first and foremost contributes to the employees’ sense of self-fulfillment and social cohesion among the volunteers.
  • Innovation and learning
    • Integrating Corporate Responsibility improves organizational communications and data flow and enables the introduction of new ideas.
  • Risk Management Organizations that consider corporate responsibility operate in a reasonable manner and significantly reduce their exposure to economic, environmental and social risks. Thus, for example, they encounter fewer legal claims, media scandals, etc.
  • Reputation Corporate Responsibility positively impacts an organization’s image in the eyes of its partners, customers, authorities and the environment in which it operates. Responsible conduct, especially where it is reported and transparent to all, portrays the organization in a positive light and bolsters its reputation for the long term. Reputation is among the organization’s resources and is an effective growth engine.
  • Streamlining, cutbacks and savings Actions taken as part of Corporate Responsibility have many positive implications in terms of streamlining and savings. Thus, for example, Corporate Responsibility not only contributes to sustainability, but also enables the organization to save on resources (energy, paper, water, etc.) and integrate an economical organizational culture among its employees.
  • Employee satisfaction and pride Employees today are no longer satisfied with an economically and professionally rewarding and satisfying workplace. Many of them, led by the Y generation, seek a workplace that offers them meaning and an added value. Studies show that organizations that maintain an agenda of responsible conduct, are more in demand as workplaces. Employee volunteering not only contributes to the community, but first and foremost contributes to the employees’ sense of self-fulfillment and social cohesion among the volunteers.
  • Innovation and learning Integrating Corporate Responsibility improves organizational communications and data flow and enables the introduction of new ideas.

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