Marketplace CSR involves how an organisation interacts with its customers, suppliers, and other stakeholders.
Creating and selling products that meet customers’ expectations, engaging in responsible procurement and paying your suppliers on time will build and maintain customer loyalty and promote your brand in the realm of business. Businesses need to engage in responsible supply chain management, in particular those businesses at the top of the supply chain. These responsible business practices go a long way to ensuring that stakeholders will want to engage with your business, further building your reputation.
Corporate Social Responsibility matters to a business’s bottom line. Operating responsibly, while taking care of business and successfully managing risks, distinguishes a business from its competitors.
Mainstreaming CSR strategies into day-to-day operations is a win:win for business and will deliver long-term benefits that boost the bottom line while also enhancing local communities.