Week 11

Corporate social responsibility is no doubt a large issue today with the ongoing economic crisis.

Rather than just an image to display to the public, philantrophy and corporate social responsibility has shown great success nonetheless when its comes to people's responses. A good example shown in class is the Phillips/Live Earth event.

Now more than ever, with so many corrupt corporations threatening the economy, the need for social responsibility is increasingly urgent. Funds that may be used for the corporations benefit are now expected to go towards causes that concern the everyday citizen.

An example of a company that frequently practices this is the Body Shop, in which many of the skin care ingredients used come from third world countries. By allowing them to supply the ingredients, the Body Shop creates jobs in remote parts of the world as well as benefiting the brand's products. More details on the brands efforts on social responsibility can be found on http://blog.thebodyshop.com.au

In the long run, corporations which practice this have a higher chance of developing long term relationships with consumers and also has a higher chance of attracting customer loyalty.