When a company gives back, it is a theory or an ethical initiative that you have an obligation of acting in a way that the society benefits at large. It is a duty expected to be performed by an organization in order to maintain a balance between the ecosystem and the economy. Doing this shows that a company is improving quantitatively (the impact on society) and qualitatively (the management of processes and people). According to studies, companies usually record more sales and profitability when they give back, and this is why more and more companies are now finding one thing or the other to do to help their communities.
How Your Company Can Give Back
Your primary goal as a business owner may be to build and maintain a good business but aside from this you should also incorporate social and environmental responsibility the way Pepe Fanjul Jr. does by giving back to the community that supports your business. One way you can give back to the community is by donating any items you do not sell or use. For example, if you operate a school supplies store, you should donate any unused items to local schools that are in need of supplies but cannot afford to obtain them due to hard financial times or budget cuts from the school board.
Another idea is to teach people important life and business skills so they can be productive in society. If you own a few credit unions in the city, you can visit different community centers where you would teach financial literacy skills such as budgeting, managing a checking account and spending less than you earn. Fundraising is another way of giving back to the community.
Expand Your Operations
This is one of the best ways to contribute to the community because you create more jobs and if you want to go a step further, you can open a few more locations and then offer your employees the chance to operate your franchises by themselves. In addition to this, you can raise money so that the employees will have startup funds to operate the franchises. Job creation is essential for the community’s survival.
Write A Book To Raise Awareness of A Cause
If you just started a small business, you can help the community by writing a book to raise awareness about a certain issue that you want resolved. If your twin teenage sons have Down Syndrome and you feel that not enough is being done in the school system and by mental health specialists to prepare them for adulthood, this can be the basis of the book. Once the book is published you can send copies of the book to organizations that raise awareness of the issue, local clinics and hospitals, and schools.
There are numerous ways to give back to the community as a business owner and in addition to the above mentioned methods, you can seek out more creative ways based on what you are passionate about and your availability of resources. Even if you donate money to a charity each month, it is still enough to make a difference in someone’s life in the long term.