CSR
Socially responsible business entities get involved in the affairs of the societies within which they operate. Consequently, they improve the living conditions and the company’s bottom lines by ensuring that their clients are engaged (Epstein-Reeves, 2012). Sustainability strategies ensure that businesses prioritize areas of CSR that they deem vital for their survival. Some of the CRS activities in which a company can engage includes supporting education, health care, and infrastructural development. Simultaneously, areas entail efforts to reduce the impacts of climate change, environmental pollution, and green energy production.
Education support is a vital area where organizations can assist a community in improving. Such support would ensure that the pupils acquire essential skills that would help enhance their usefulness in society. Education has a two-way benefit—the community gains knowledge, whereas the business benefits from the human resource.
Supporting healthcare initiatives is another area where companies can focus their CSR activities. Companies can build hospitals or fund healthcare campaigns such as cancer screenings and HIV/AIDs awareness. Additionally, they can sponsor healthy lifestyle initiatives that promote the prevention of illness. Such initiatives would stimulate the well-being of the society, from which companies derive resources.
Climate change is another significant area in which companies can center their sustainability strategy to minimize their adverse impact. Business entities can improve public awareness and fund research on the subject. Additionally, they can support sustainable land use and assist in natural resource protection. Ultimately, the minimization of the adverse effects of climate change would enhance sustainability.
The reduction of environmental pollution is another area where companies can assist. Efforts should be focused on the 3Rs of minimizing pollution (Abdul-Rahman & Wright, 2014). Companies can fund campaigns and get involved in activities that enhance re-use, reduction, and recycling materials. For instance, they can ensure that they do not harm the environment by avoiding plastic bags.
Business entities can show social responsibility by engaging in community education, healthcare support, environmental sustainability, and climate change impact reduction. These activities endear its customers and enhance loyalty, which positively affects the companies’ bottom line. On the other hand, the communities’ well-being would be improved. Organizations must identify and prioritize strategic areas where they can focus their fundings.