What About Social Responsibility?
Social responsibility focuses on how businesses can positively affect their local and international community by making decisions that consider the environment, philanthropic giving, ethical business practices, and economic responsibility. In fact, some argue that social responsibility is important because it can benefit a company’s relationship with society, as well as the environment. As more and more consumers recognize the importance of sustainability, businesses need to exercise their social responsibility with their audience.
Before focusing too much on businesses and companies, it is important to remember that social responsibility applies to individuals too. Every entity, whether a large organization or a single human, has a certain obligation to help maintain the balance of the environment and every organism that is dependent on it.
And it should be noted that social responsibility can be passive or active, meaning that it’s responsible to avoid participating in actions that will knowingly be harmful or it’s responsible to actively fight against legislation that might allow negative impact. Social responsibility comes in all shapes and sizes.
4 Types of Social Responsibility for Businesses
1. Environmental Sustainability
The two main goals of environmental sustainability are to limit pollution and reduce greenhouse gases. This means that businesses should consider what steps their production process can take to use renewable materials, as well as be more efficient over the long term. At Golden Arrow, our factories strive to have a clean production process from beginning to end with plenty of windows for natural lighting, a closed loop water recycling circuit, and biodegradable and renewable materials.
2. Philanthropic Giving
For-profit businesses can benefit the world in a big way with generous giving. While some businesses may be able to offer financial giving, others may be able to volunteer resources or time to local, national, or international charities and nonprofits. There are many worthy causes to choose from: companies can support human rights, education programs, clean water, or disaster relief.
3. Ethical Business Practices
Another way to exercise social responsibility is to offer employees fair labor practices as well as their suppliers. This means equal pay for equal work and living wage compensation. Companies should value their workers alongside the products that they are producing. Another way that companies can prioritize ethical business practices is by choosing suppliers who meet fair trade standards.
4. Economic Responsibility
Businesses make production and operation decisions based on considering economic factors. While the short term may mean a big change, the long term may include the benefits of less cost and consuming fewer resources. Companies can pursue economic responsibility by choosing to use recycled products, material byproducts, and other renewable resources. At Golden Arrow, our molded fiber packaging is created from bagasse, a byproduct of sugar cane, and bamboo.
Social responsibility improves the earth’s sustainability and the quality of life for future generations. Companies need to take the time to make sustainability and social responsibility an important part of their business operations. We, at Golden Arrow, offer quality consumer products while also operating green factories and a green production system.