In the past, the success of businesses was measured alone based on their financial status and the quality of their products/services. Today, you cannot be considered a successful business if you are not being socially conscious. As reported by Deloitte, it is now a necessity for businesses to be more socially conscious towards their community, the environment as well as the world as a whole.
In this blog, we highlight three reasons why your business should also be socially conscious while maintaining a good financial status and high quality of products and services. We have also put together a 6-stage framework to help you embark on your journey to establish and embrace social consciousness as part of your brand’s identity.
Why Your Business Should Be More Socially Conscious
1. Culture
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Working for a business that is actively trying to make the world a better place is empowering for employees. It has a positive impact on your workplace culture as it encourages its people to become more involved, motivated and collaborative. This often results in better productivity and job satisfaction.
2. Point of Difference
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Consumers are increasingly becoming more conscious about supporting transparent companies that are actively trying to improve their impact on the world. Since socially conscious businesses typically aim to resolve social, financial or environmental issues, consumers have a stronger reason to believe in their products and/or services. As a result, socially conscious businesses have a unique point of difference, which complements the social impact the business aims to have.
3. Enhanced Reputation
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Social businesses are generally considered to be more open and transparent. With this, comes an increase in consumer trust, and brand image. Therefore, when factors such as price and quality are relative amongst competitors, conscious consumers are more inclined to support businesses that have social purpose.
As a result, businesses with a social purpose typically have a stronger brand image, associations and consumer loyalty. This contributes to an overall enhanced reputation, which is shared by both consumers and shareholders alike. This enhanced reputation can also positively impact the business’ bottom line.
6 Stage-Framework for Being More Socially Conscious
It is not easy for all businesses to be more socially conscious and responsible, especially small-to-medium businesses. For those of you who are confused about where to start, we have put together a 6-Stage Framework to help you get started on your journey to becoming a more socially conscious and responsible business.
Stage 1: Direct Contributions
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The first stage of social consciousness involves donating to your local charities. By setting aside a portion of your net profit for a good cause, you can really make a difference in your local communities and it helps you build strong relationships within your community.
At A&H Digital Solutions, we place a strong emphasis on our social responsibility. Since 2016, we have committed 10% of our net profit to philanthropic work. Through our partner, Hutt St Centre, we feed homeless people. Last year, we managed to feed over 10,000 people experiencing homelessness.
Our goal for 2020 is to sustainably grow our business and continue to support more than 13,500 people through our collaboration with Hutt Street Centre.
Stage 2: Encourage Volunteering
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Volunteering is one of the best ways to give back to your community and help it become a better place at the same time. Typically in stage 2, businesses encourage their staff to set aside some volunteer hours to help charities and social projects. By doing this, you will further boost employee morale as well as increase community involvement.
Another idea to consider, is to volunteer as a team for a charitable cause which can help your employees build strong relationships with each other while contributing to a good cause. Having a day for volunteering also helps to reinforce and embrace your business’ mission of being socially conscious and responsible.
There are several websites where you can start planning your volunteer work. For example, the Australian Charities and Not-for-Profits (ACNC) provides resourceful information on where to get started. If you are seeking to start volunteering as a company, you can check out Volunteering in Australia’s Step-by-step for Corporate Volunteering.
Volunteering for social projects is an important part of our A&H mission, we proactively plan and discuss our next volunteer work.
Stage 3: Collaborate with Like-Minded Organisations
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You should focus on working with businesses that are also making a positive impact on the planet. Collaborating with businesses that have similar values can help to create a bigger impact than you could on your own. Through a synergic collaboration, you can unveil creative ways to become more socially conscious.
By partnering with local businesses, you are improving the lives of the local community and the entire economy. You can also gain more resources through such partnerships and collaborations.
At A&H, we work with companies who are making a positive impact on the local community – the University of South Australia and Mount Lofty Springs. We believe it is imperative to work with businesses who share the same values and mission as we do.
Stage 4: Avoid Working with Incompatible Organisations
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The fourth stage of becoming more socially conscious is to stop working with businesses that are damaging the planet (e.g. coal and mining companies).
For example, a study showed that coal is the biggest contributor to air pollution in Australia. Another report further revealed that Australia is also mainly responsible for 5% of global greenhouse gas emissions in 2019. Therefore, it is critical for you to evaluate what type of companies you want to work with and whether you share a common outcome.
At A&H, we never work with businesses that don’t align with our mission and values (e.g. gambling, adult industry and companies who are not environmentally conscious).
Stage 5: Focus on Work which has Direct Positive Impact
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The next stage requires you to focus on work which makes a direct impact on the planet. If your work is having a positive impact on your community and economy as a whole, you are well on your way to achieving great success.
Our team is currently building a software which is going to facilitate more research work around the globe. We are proud to mention that the University of South Australia is our client for the next 10 years.
Stage 6: Discard Any Business Activities with Damaging After Effects
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If your business activities and operations are damaging the environment, you should consider shutting them down. Not only does it hurt your reputation and brand image, it drives away loyal customers and investors, which will have a significant impact on your business’ bottom line.
As a software development agency, none of our services have a negative impact on the environment and the planet. We are constantly innovating and enhancing our services and product to make a greater positive impact on our local community, our country and the world as a whole.
Takeaway
Being more socially conscious is a core part of any successful entrepreneurial business. While you are striving to make a positive impact on the world, remember to take care of your employees, customers and other relevant stakeholders to maintain a long-lasting relationship.
To stay up to date on our endeavours to make a positive social impact in our local community, visit our Website, and follow us on LinkedIn and Twitter!
If your business requires any help with eCommerce, custom and app development, or software integration, A&H Digital Solutions is here to help you. Book a no obligation consultation with us today!
