Corporations: Be Good or Lose Money

June 22nd, 2010 by | Tags: , , , | No Comments »

It may cost companies to be socially responsible; however, in the long run, they’re not only doing good things for our planet, but also, they can gain market shares.  It’s no different from paying for advertisements.  According to NationalService.gov, a huge number of Americans say that companies’ commitment to social responsibility is important for both deciding which brands to buy and which stocks to invest:

70% of Americans say that a company’s commitment to social issues is an important factor in deciding which stocks and mutual funds to invest in.

86% of Americans say they are likely to switch from one brand to another that is about the same in price and quality if the other brand is associated with a social/community cause.

This is HUGE!  As a customer, knowing corporations’ history of socially responsibilities is an important factor in researching companies.  For instance, I will choose to shop at Costco over Wal-Mart because Costco has an incredible history of being socially responsible while Wal-Mart has the worst history.

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