Corporate citizenship is the contribution of every corporate company towards the society and community. Each company must strive to increase the standard of living of communities. Moreover, the companies should be concerned about the society as well as the employees.
Corporate citizenship refers to the basic duties of each company towards the welfare of the people related or not related to the company. This is the legally expected way to give back to society for the betterment of the people and country.
Why is corporate citizenship important?
Undoubtedly it is one of the most important tasks of every corporate company. Helping the people and the society in and around the company is very important. This lets the settlement and the companies grow together.
Indeed this has to be done without hampering the profits of the shareholders of the company. If the profits are hampered than the stakeholders will feel unsafe investing more in the company.
It should be noted that when a company indulges itself in corporate citizenship it attracts more customers. Obviously, this is because it shows people that the company is concerned about the well-doing of the society and the country.
Are Corporate Social Responsibilities and Corporate Citizenship the same?
However, with a few small differences both the concepts mean the same. Both of them are inclined towards the thought that all the corporate companies should work towards the betterment of the company.
All corporate businesses have and ethical duty towards the society that the company resides in. There should be a proper balance between the needs of the community and the profit shareholders of the company. If any of these things go unnoticed, it will be a problem for the company.
How do these activities help?
All the corporate citizenship activities help in building the brand image of the company. Definitely, this shows the goodwill of the company. Additionally, this makes customers believe that the company works for the good of them. This will help the profit margins go high. All the potential customers will clearly turn into happy customers.
Furthermore, customers always prefer a socially alert and kind company. Along with this, the investors also know the importance of investing in a socially aware company. So the chances of getting investors involved are more while doing social activities to make the society a better place to live in for the people.
Types of Corporate Citizenship
Philanthropic efforts focus on the welfare of the people and the community by donating a sum of money to the needful. This mainly works to make the next generation capable of understanding the various technologies and make innovations to the growing fire of the technology.
Raising funds for schools sports events, science exhibitions and many such things are examples of philanthropy.
Nature is definitely the one making headlines every next day. Environmental Conservation is very important considering the current scenario of the same. Contributing to the better of our mother nature is quite essential right now.
Greenhouse initiatives, windmills, solar power, alternatives for harmful chemicals released in the rivers, etc all need immediate attention. Many corporate companies try to make a difference by contributing to nature.
Letting employees volunteer for various activities helps them build a rapport with each other. For example, planting drives, educational sessions in slums, food drives, etc. This helps the society while making good relations among the employees. This builds good relations among the seniors and juniors of the company.
Sustainability and Economic Growth
Indeed focusing on economic growth has become a major concern. Including reusable products in the manufacturing will balance the economic and sustainability levels of the society.
Indeed, economic responsibilities ensure the long term growth of various businesses.
Furthermore, sustainability focuses on the cost-cutting of the business processes with immediate effects.
These are a few ways to deliver corporate citizenship duties of a corporate company.
Steps of Corporate Citizenship Activities
The few steps that are followed when any company implements the process of corporate citizenship activities
The beginning of every new thing will have an elementary start. The activities will be basic and with no much attention of either the employees or senior officers. However, everyone will not have the time to give out to these activities apart from his/her planned office schedule.
Once the activities start in motion there will involvement of employees and workers. Everyone acknowledges the work and tries to put efforts from everyone’s end.
At this stage, people will start holding meetings and putting forward their new ideas for corporate citizenship work. Nonetheless, everyone starts working for the better of the society as well as the companies.
All the operations now have blended in the day-to-day work of the companies. However, corporate citizenship becomes as importance as any other work in the company. Everybody is working towards the goal of making the society a better place to live in.
There is a visible transformation from the customers and the investor’s opinion about the company. importantly, This will help the company boost its profits and society will benefit from the various activities. It is a win-win situation for both of them.
Great! You have reached the end of the article. However, I hope that companies start taking corporate citizenship seriously and work towards the welfare of society.
I hope you make the best of this information. All the best!