Skip to content

Equipment Lease and Loan Finance Software Platform

Corporate Social Responsibility – Who, What, and Why?

“Aiming to embrace responsibilities of company’s action and encourage a positive impact through its activities on the environment, employees, and entire relevant public.”

Corporate Social Responsibility – some translate that as a fancy word for fundraisers, but in reality, it means so much more. The term relates specifically to efforts beyond what is required by laws, regulations, and trade rules. CSR has many different objectives, but it really comes down to three main parts: social, environmental, and economic (people, planet, profit).

  • Social (people) – the focus on the fair treatment of employees and building livable communities as well as developing a responsible workforce. This can be implemented with various training programs and a reputable company culture with upright leaders and managers.
  • Environmental (planet) – represents operational efficiencies and the reduction of environmental impact. Most commonly referred to as “green initiatives” such as recycling programs and manufacturing products using only sustainable materials (ASPIRE fits right in here, helping offices efforts to become paperless!).
  • Economic (profit) – the base of the other two elements, economic responsibility represents strengthening financial self-sufficiency and economic opportunities in communities. This includes fair trade, marketing concentration pricing, compliance with laws, efficiency and more.

LeaseTeam, Inc. is highly involved in CSR, in case you didn’t know. One of the ways we participate is the annual Dunk Your Boss Day when employees donate money to get “revenge” on supervisors. At the end of the day, LeaseTeam matches employee donations, and all proceeds go to the local Ted E. Bear Hollow chapter. Since 2001, Ted E. Bear Hollow has been a welcoming, safe place where grieving children, teens, and adults find hope. LeaseTeam does this first and foremost for the cause but also because it is just part of our culture to give back.

Some of the other ways LeaseTeam stays responsible include in office recycling and other various fundraisers. They may not know it, but our customer service team could also be a good example of staying responsible. Instead of outsourcing the team to another country for cheaper wages, LeaseTeam keeps jobs right here in the community.

It is clear CSR benefits people outside of the company in a number of ways, but it also can benefit from the outside in. A good and vocal CSR program has been shown to create a positive attitude towards the company, keeping customers loyal, and can eventually lead to increasing sales. Don’t believe me? Check out these companies that have advanced as a result of good CSR:

Breaking it down:

Whether you know it or not, you play a part in CSR every day in places like coffee shops, malls, or even the grocery store.

For example, take something as simple as paper towels. Brand X costs more than Brand Y for the same quantity and quality. However, Brand X comes from a company that practices good CSR, including using environmentally friendly production methods. Brand Y does not create their towels in an environmentally friendly way, therefore production prices are lower, and they don’t need to charge quite so much. As a result, buying from the more responsible Brand X would ultimately increase your environmental responsibility. Something to think about the next time you shop!