In order to maintain their own existence, institutions have to get along well with the buyers of the product they have developed. In this regard, we can answer the question of what is corporate social responsibility. In other words, it can be said that it is the effort of an institution to integrate with its own customer base. These corporate social responsibilities can be realized in the fields of culture, health, environment and education. The main purpose of the institutions while doing this is to increase the brand value of the institution and to promote it.
Corporate Social Responsibility Is Not Charity
This is often equated with philanthropy. But it is not philanthropy. Because in philanthropy, there is no such thing as informing others about this situation or making publicity. On the other hand, corporate social responsibility is the actions taken by considering the expectations of the masses of the people. The situation in question is realized entirely within the framework of plans. The situation is made public by various means. In addition, the plan period is generally evaluated to cover one or two years.
The main purpose of corporate social responsibility is to create a good company image about the company in people's minds. In other words, when the customer group remembers that company, this perception is formed. Loyalty, reliability and loyalty type are abstract concepts that companies gain with corporate social responsibility. These intangible gains return to the firm as sales. In other words, these abstract concepts we are talking about aim to make the institution socially reputable and to make the firm go higher than it is materially.
Benefits of Corporate Social Responsibility to the Firm
– Maximizes customer loyalty.
– Increases the loyalty of internal employees. Thus, efficiency will be greater.
– Corporate social responsibility increases strategies at very high rates.
– At the same time, it is the institution's attempt to gain a certain prestige. With corporate social responsibility, the company succeeds in gaining prestige and qualification.
– The market is very important to seize opportunities.
– Competitive advantage can be created.
– Reinforce that in the eyes of the people, the institution has very good intentions.