Corporate Social Responsibility (CSR)
According to the Business New Daily website, while many companies practice some form of social responsibility, some make it a core of their operations. Ben and Jerry’s, for instance, uses only fair-trade ingredients and has developed a sustainability program for dairy farms in its home state of Vermont. Starbucks has created its C.A.F.E. Practices guidelines to ensure the company sources sustainably grown and processed coffee by evaluating coffee production’s economic, social, and environmental aspects. Another notable example of a company with CSR at its core is Tom’s Shoes, which donates one pair of shoes to a child in need for every pair a customer purchases.
Every year, Reputation Institute, a private global consulting firm based in New York, invites about 47,000 consumers across fifteen markets to participate in a study that ranks the world’s one hundred most reputable companies—all multinational businesses with a global presence. One of their recent studies found that 42 percent of how people feel about a company is based on their perceptions of its corporate social responsibility (CSR).
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