What is Responsible Business?

We believe it is essential that businesses are profitable and ensuring this must be the first responsibility. But profitability should not override all other considerations. "How" profits are made is extremely important and therein lies the key to other areas of responsibility that should never be overlooked.

Business responsibility is often known as Corporate Social Responsibility (CSR) or Corporate Responsibility (CR). Throughout the world, CSR has many definitions with some describing it as a more philanthropic activity. The definition used in the World Business Council for Sustainable Development publication "Making Good Business Sense" by Lord Holme and Richard Watts is perhaps one of the most widely used and accepted:

Note the inclusion of "contribute to economic development." It is also evident from the publication that genuine business responsibility is not a bolt on activity; it should be at the very heart of how a business operates to be really effective.

RESPONSIBLE BUSINESS = PROFITABLE BUSINESS

This standard is broadly grouped in to five key areas. These can be summarised as follows:

Workplace

If you have employees, your responsibility arguably begins here. But the evidence is overwhelming that a trained, engaged and motivated workforce will result in less absenteeism, reduced staff turnover and more productivity. The workforce is invariably a business's greatest asset and should be treated as such. You will reap the rewards!

Environment

Legislation continues to increase and there are few businesses that are not required to adhere to specific rules and regulations. And yet it is still estimated that business could make £6.4bn per annum in savings on costs such as paper, waste disposal, water, heating and transport. How much could your business save?

Community

Considering the needs of the local community can boost your reputation and have a considerable positive impact on your business. When possible, sourcing supplies and recruiting locally will help support the local economy. Engagement in community activities can have numerous benefits - and can be fun!

The Marketplace

How well do you look after your suppliers, distributors and customers? Can you make any improvements to improve your businesses efficiency and reputation? Do you know anything about the goods you purchase? For example, could they have been made by child labour?

Values and Transparency

Do you operate in an open, honest and transparent way with employees, customers, suppliers, distributors and other stakeholders? Do you bring your personal ethics in to your business? Greed and lack of transparency has brought the economy to its knees. A new value culture is now imperative for business success.

Remember:

RESPONSIBLE BUSINESS = PROFITABLE BUSINESS

To discuss the Responsible Business Standard and the audit please call:

08456 343856