Socially Responsible Business Models

Socially Responsible Business Models:-


The future holds a wealth of opportunities, yet forces in the socioeconomic, cultural, and natural environments will impose new limits on marketing and business practices. Companies that innovate solutions and values in a socially responsible way are most likely to succeed. Companies such as The Body Shop, Working Assets, and Smith & Hawken are giving social responsibility a more prominent role. Late actor Paul Newman’s homemade salad dressing has grown to a huge business. Newman’s Own brand also includes pasta sauce, salsa, popcorn, and lemonade sold in 15 countries. The company has given away all its profits and royalties after tax—almost $300 million so far—to educational and charitable programs such as the Hole in the Wall Gang camps Newman created for children with serious illnesses. Corporate philanthropy as a whole is on the rise: After years of steady growth, with $14.1 billion in cash and in-kind support given in 2009, it held fairly steady even during a recession. In addition to these contributions, more firms are coming to believe corporate social responsibility in the form of cause marketing and employee volunteerism programs are not just the “right thing” but also the “smart thing to do

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