Business

Corporate social responsibility is not a must but it is important for LG Electronics

Today, business engaging in corporate social responsibility (CSR) not only a must but a key component to the survival of any given business/brand.

CSR is the only way that a business “gives back” to a community. It is one way of a business showing the community that it is genuine, human and it cares for them.

Many people think of a CSR in monetary form. It is indeed true that most activities involve a business giving out money, sometimes lots of it but not always. CSR is like kindness, a simple act can work to move a mountain and change lives.

According to LG Electronics, “Consumers want to do business with a company they can trust. Due to this, it is now common for a business to have a variety of external activities in place.”

CSR creates trust. It bring the business to the people. It lets people “walk through” the business with their emotions, especially gratitude in the event that the CSR activity directly touches them.

CSR doesn’t have to be a humongous activity. It can be something as simple as taking part in a tree-planting activity, organizing and sponsor a community football/game event or a cultural event or helping kids from disadvantaged background access education through paying part or whole of their school fees.

LG Electronics gives a good example of a CSR activity. For instance, it partnered with Rehabilitation International Korea (RI Korea) and hosted the 8th Global IT Challenge for Youth with Disabilities (GITC) in India.

The truth is, with CSR, the business or brand does not expect anything in return. It is all about giving and to a larger extend, touching lives. People will always remember how you made them feel. People, both customers and non-customers tend to relate to a brand that “associates with them.” Sponsorship is another factor that could shape buying attitudes and help generate a positive reaction. For example, LG is always looking to generate a positive idea of their products in the minds of their consumers. As such, the company regularly supports events that it feels can influence consumer opinions and bring a positive change in their lives

Nobody summarizes CSR better than LG Electronics.

“Sponsorship is another factor that could shape buying attitudes and help generate a positive reaction. For example, LG is always looking to generate a positive idea of their products in the minds of their consumers. As such, the company regularly supports events that it feels can influence consumer opinions and bring a positive change in their lives,” LG East Africa Managing Director, Janghoon Chung.

The greatest reward that a business gets from a CSR activity is trust. Trust is that invisible currency that works miracles for businesses. People don’t buy products. They don’t buy services either. They buy trust.

Categories: Business, CSR

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