Believe in CSR? You’re in 'Good' Company in 2010 - A blog by Ann Charles

As 2009 and the decade of the 00's come to an end, it is interesting to think about what will make a truly good company in the years to come. In the past, companies that made a profit, paid taxes, and provided employment were thought to be ‘good’ based on financial success alone. When they exceeded financial expectations, they were considered great. The higher the profits, the stronger the brand image became. 

Then the economic crisis hit, along with the potential destabilization of the entire system, and the wisdom of pursuing profits at all costs turned out to have a price tag after all. 

Now once again, times are changing. Post our entry into the Great Recession, a ‘good’ company has been redefined as one that adds value outside the realm of financial success. At the same time, social media has deconstructed the closed corporate culture, creating a transparency that provides consumers with an inside look at a company’s guiding principles. 

The rise of Corporate Social Responsibility (CSR) has taken hold, and consumers are increasingly choosing to support companies that hold dear their own values, rather than simply produce a profit. 

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