Pressures for Being Socially Responsible

• What are the different pressures for being socially responsible?

  • Consumer expectations
  • Social Media and PR
  • Government and legal pressures
  • Investor and shareholder pressure
  • Competitor actions
  • Long-term profitability
• Businesses that ignore CSR risk what?

  • Negative reviews
  • Brand damage on social media
• Why is social media a pressure to be socially responsible?

  In the digital age, unethical behaviour can go viral instantly
• Why are employee expectations a pressure to be socially responsible?

  Businesses seen as irresponsible may:

  • Struggle to attract talent
  • May face strikes
• Why is competitor actions a pressure to be socially responsible?

  If competitors act ethically, other must keep up to:

  • Maintain market share
  • Protect their reputation
  • Avoid being seen as outdated or harmful
• What does pressure on CSR depend on?

  • Industry (e.g. oil, fashion, or fast food face more scrutiny)
  • Size of firm (e.g. large MNC's attract more attention)
  • Target market (e.g. younger customers = more ethical expectations)