Corporate social responsibility considerations when implementing change

Benefits of adhering to CSR when changing a business

- Customers are likely to purchase more products
- Better reputation through word of mouth
- attract highly skilled employees

Costs of adhering to CSR when changing a business

- Time Consuming
- Costly
- May require upfront investment

Ways a business can be socially responsible during a change (4)

- When downsizing/restructuring, providing transition considerations
- Using local suppliers and ensuring they use sustainable operations
- Minimising the levels of waste in the environment and ensure proper disposal of waste
- Being honest and transparent to stakeholders

What should a business do once a change is implemented

Review the KPI's that were analysed prior to the change to note the difference (either improvements or deteriorations), these results should be passed onto stakeholders to determine whether the change was successful and to create refinements to changes in the future.