How Are Retailers Contributing to the Economy?
Representing a third of the world’s GDP, the global retail industry is coming under pressure to demonstrate their local impact in today’s challenging economic and political climate.
November 27, 2017 /3BL Media/ - Good business has been defined in recent years as companies proactively being responsible and held accountable to their actions. No longer is it enough to develop safe products, recycle, and make charitable donations as the bedrock of a corporate social responsibility (CSR) strategy. More must be done to demonstrate contributions that make an impact to society and communities, inspire positive change, and make a genuine difference to people’s lives.
Just over two years since the launch of the United Nations’ Global Goals for Sustainable Development, businesses have sought ways to measure and quantify their socio-economic impact, obtaining the necessary data and insights to address how their business is positively effecting their immediate environments.
Jesse Nishinaga, Senior Consultant at Corporate Citizenship comments: “In our fast-paced, daily lives, we spend little time thinking about the jobs of those who serve us our morning coffees or process our grocery transactions. These employees are the indispensable link between us and the products and services we buy. The impact of these jobs on the people who undertake them can be immense, and there are few retailers that measure and assess the socio-economic impact of their operations on their employees and in their local communities. This is where the big opportunity lies to truly substantiate business value and make a difference in people’s lives.”
Socio-economic impact data provide retailers with tangible benefits that improve engagement with key stakeholders on shared issues, developing their relationships with local governments to bring new economic opportunities and creating a business case for innovation to tap into new markets.
Corporate Citizenship will be sharing work in this space to engage more companies, especially those in the retail industry, on the value of socio-economic impact studies in making the case for creating better jobs that bring purpose and value to all.
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About Corporate Citizenship
Corporate Citizenship is a global management consultancy, specializing in sustainability and corporate responsibility. With offices in London, Melbourne, New York, San Francisco, Santiago and Singapore we work with corporate clients around world, to achieve their commitments to responsible and sustainable business practices. For more information, please visit us at: www.corporate-citizenship.com