What is a Social Responsibility Statement (SRS)?
The SRS concept is a direct action towards helping vulnerable people or the environment. By doing this, you get the same benefits that big businesses are getting out of CSR (Corporate Social Responsibility), “it makes you look good, ethical and strong”.
Where this came from?
The SRS concept has its genesis on CSR (Corporate Social Responsibility). While CSR is widely used by big businesses all over the world to promote themselves as “fair and ethical” to gain kudos, it has a flaw, its costly! CSR is very expensive to design, run and maintain.
What is CSR?
“Corporate Social Responsibility (CSR) does not have one particular definition. Some define it as operating in a manner that meets or exceeds the ethical, legal, commercial and public expectations that society has of business; whereas other define it as doing business in an ethical way that respects people, society and the environment”(NEPALI 2008).
SRS Vrs. CSR
Clearly SRS is more flexible and can be used by business (large or small), people and groups (both public or private).
What’s the benefit of a social responsibility strategy?
- Publicity: you get in touch with groups of people that can tap into the media. By joining efforts, you get exposure and free publicity. There are direct benefits to your business image, staff and clients loyalty and:
- Product differentiation: making your brand more appealing to customers
- Costs: lower cost in retaining and recruiting staff
- Influence: increased ease of access to favorable relationships with markets, key players, partners and suppliers
