A global survey conducted by IBM's Institute for Business Value revealed that corporate social responsibility has expanded beyond being seen as simply a burden of regulatory compliances. Today, it is now viewed as an opportunity for growth. 

The survey covered some 250 organisations. The final report concluded that companies have now become open to the idea that placing social responsibility at the center of their business will allow them to become more competitive. In addition, companies are becoming increasingly aware that a solid social responsibility policy will provide them with the opportunity to attract and retain the most talented employees in the industry.

Companies have also become more aware of the issues that are driving their customers. The range of issues which interest consumers include:

• Product safety issues
• Climate change
• Labor practices
• Percentage of corporate return of profits to the community

The number of advocacy groups which collect and report information on businesses has dramatically increased in just the last three years. The amount of information available to the most critical stakeholders, consumers, has played a tremendous role in consumer purchasing decisions. Accordingly, businesses have responded by increasing their efforts to keep up with the emerging interests of their consumers. The increased focus on Corporate Social Responsibility is now being viewed as an important investment that will provide businesses with critical financial returns in the future.

Read IBM's full article.