The general public has developed a highly negative opinion of big businesses, especially since the 2008 recession. Participation in “corporation bashing” is commonplace.
Successful companies are easy targets because they make lots of money and people don’t usually understand how they operate. Also, some major companies have made some pretty terrible decisions that make the rest look bad.
The best way for the general public to understand that big corporations aren’t all bad is to let them see larger companies doing some good. Social responsibility campaigns come into play here: companies can use their resources to do something good and inspire others to do the same.
A great example is Mark Zuckerberg’s campaign to give the entire world access to the Internet. Zuckerberg’s company, Facebook, is the most popular social networking site on the web and has had record-breaking profits. Now Zuckerberg is using Facebook’s money and connections to put a plan in place to get the entire world access to the Internet.
Here are four good reasons online foreign exchange companies should do more social responsibility campaigns.
1. People like companies that help others
Customers like to buy and support products that come from socially responsible companies because they feel their support is a form of social responsibility in itself. If you make it known that your firm engages in socially responsible practices, your customer base will grow.
2. Doing good makes companies look good
When companies like Facebook, Nokia, and MediaTek team up to spearhead a social responsibility campaign, it gets them positive attention and lots of press. Often, we don’t hear a lot about what companies are up to unless they’ve done something wrong.
Campaigns like Zuckerberg’s change the media’s tone when it discusses the companies involved.
3. Social responsibility gives a business opportunities for innovation
Zuckerberg’s Internet access campaign isn’t just about supplying people with a connection to the web. It’s also about reducing the cost of using the Internet by minimizing the amount of data it takes to view webpages and use web applications.
Based on these goals, Facebook and other companies are investing in research develope better compression technologies. They’re using the knowledge gained from that research to alter the design of their own web-based products.
4. Campaigns based on social responsibility boost employee engagement
It’s not difficult to see how a company’s involvement in a social responsibility campaign can make its employees feel proud of where they work. If a company takes the trouble to get employee input on the project and involves them in its implementation, the job satisfaction rate will soar.