UNIT 05 - READING 1 Corporate Social Responsibility (CSR)
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Reading Expert 1(2020)
Reading Expert 1(2020)
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UNIT 05 - READING 1 Corporate Social Responsibility (CSR)
These days, many corporations are interested in Corporate Social Responsibility (CSR). CSR includes things like investing in communities and protecting the environment. Such activities improve the reputations of both a company and its products. In turn, this can lead to increased financial returns. There are a number of ways companies can practice CSR. IBM, for example, is helping people participate in the World Community Grid. They have created a small program for personal computers. Whenever the computer is not in use, the program donates its computing power to the World Community Grid supercomputer. This supercomputer assists with medical research that may lead to cures for serious diseases. Then there is Starbucks. This business works together with nonprofit organizations to improve the lives of people living in communities that grow coffee. In Guatemala, for example, Starbucks has teamed up with Save the Children to bring educational programs to remote villages. Finally, some companies are created specifically to practice CSR. TOMS Shoes, founded by Blake Mycoskie, is one example. Mycoskie traveled through Argentina in 2006 and saw that many children had no shoes. Now, TOMS Shoes sells shoes all over the world. For every pair they sell, they donate one pair to a child in a developing nation. They have now given away more than 35 million pairs of shoes worldwide. CSR helps companies show consumers that they are not only making profits but working to improve society. This makes the consumers more likely to choose products made by these companies. For these reasons, CSR is likely to expand in the future.
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