Friday, May 24, 2013

Adopt CSR or Risk a Consumer Boycott

A new survey shows that 90 percent of consumers indicate they would boycott a company if they learned of irresponsible behavior. Corporate Social Responsibility (CSR) is now de rigueur as consumers are increasingly demanding that companies assume responsibility for social and environmental issues. According to the 2013 Cone Communications/Eco Global CSR Study, 93 percent of those surveyed want to see more corporate social responsibility in the products and services they purchase.

The Cone survey is a follow up to the 2011 global survey of consumer attitudes, perception and behaviors around CSR. It includes the opinions of more than 10,000 people living in 10 of the largest countries in the world by GDP. Consumers in the US, Canada, Brazil, the UK, Germany, France, Russia, China, India and Japan were surveyed. The research, conducted by Cone Communications and Echo Research.

The survey shows that 90 percent of consumers want companies to go beyond the minimum standards required by law to operate responsibly and address social and environmental issues. CSR efforts are also an important part of attracting a skilled workforce as 81 percent of those surveyed say this is part of their considerations when deciding where to work.

As explained in the survey report, "corporate social responsibility is no longer an option - it is emphatically and indisputably a must do."

To meet customer expectations, avoid boycotts or secure talent, social and environmental responsibility is a business imperative.

© 2013, Richard Matthews. All rights reserved.

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