»News from the Crescenta Valley Chamber of Commerce

Posted by on Jul 14th, 2011 and filed under Business. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

How CSR Makes for Good Business

“It takes twenty years to build a reputation and five minutes to ruin it.” –
Warren Buffet

Guest writer: Ashley Sia, CV Chamber intern and student from University of California, Berkeley

It is an old school of thought that a company’s success is judged by their financial performance. More now than ever, ethics are becoming a trend for better business. In other words, people are starting to care more about corporate social responsibility (CSR). This means they have taken it upon themselves to regulate their company in favor of certain causes and create a positive impact on society through the triple bottom line: financial, social and environmental. It is less concerned with corporate philanthropy, which is donating money to charities, and more associated with sustainable management, which means how the company makes their money in the first place.

Examples of this include cafes that promise fair trade coffee, corporations that give their employees good benefits and companies that run campaigns to promote causes like breast cancer awareness. These endeavors may not necessarily be regulated by the government, but nonetheless they are highly respected actions that can boost business.

Initially, corporate social responsibility may cost more to accomplish, but there are many benefits that make it worth it in the end. First of all, it creates a good reputation for the brand, which in turn, gives it more value. Secondly, it can also improve employee morale and retention. Whether it is the fact that they think they are being treated well or because they know their job endorses good causes, CSR can make workers much happier, which leads to better performance and customer service. Corporate social responsibility can also create a new market. This can mean opening the door to customers who only practice ethical consumption. Lastly, CSR can improve efficiency and reduce costs in the long term.

One way your company can start practicing corporate social responsibility is by reducing your carbon footprint and dropping off your old electronics at our free e-waste recycling event. It will be on Saturday, July 23 from 9:30 a.m. to 3 p.m. at the Palms Plaza parking lot at 3131 Foothill Blvd in La Crescenta. Global e-Recyclers, Inc. promises proper handling, disposal and recycling of your e-waste, which includes identity theft protection via data destruction of hard drives. This can be a great start for your business to become more environmentally friendly.

Another event you may be interested in hearing about is The Fish Cove’s ribbon cutting ceremony at 3902 Foothill Blvd. in La Crescenta on Saturday, July 23 at 2 p.m. Social responsibility can come in many different forms, and one is supporting the community and local businesses, so stop by and join us to celebrate their grand opening with raffle prizes, food, and discounts on items.

Important dates: July 16 – La Crescenta off ramp clean up; July 23 – E-Waste recycling; July 23 – Fish Cove Ribbon Cutting; Aug. 2 – Dine Out Night at Golf N’ Grill.

Please call our office for more details on any event. How to reach us: (818) 248-4957 / crescentachamber@aol.com / www.LaCrescenta.org / 3131 Foothill Blvd., Ste D.

Julia Rabago is the executive
director of Crescenta Valley
Chamber of Commerce.

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