An Uncountable Business

Incorporation of Environmental, Governance, and Social Concerns in Corporate Plans

In a poll for the Wall Street Journal, the international consulting company McKinsey & Company found that “almost 90% of corporations throughout the world documented a rise in the incorporation of environmental, governance, and social concerns in their corporate plans of action” (Bright). It is crucial to consider why a growing number of businesses are now supporting “right doing” (CSR). We will thus examine Avon’s well-known CSR programs to better understand why the company has prioritized them in its strategic ambitions.

Avon’s Three Pillars of Responsibility

One of the top global cosmetic brands, Avon has its headquarters in New York and generated $10 billion in revenue in 2013. As the company’s CEO reiterated in its 2013 report, their three pillars of responsibility to citizenship are: populace, with a specific bias on the empowerment of women; benevolence, with a resolve to end domestic violence and breast cancer and environment imperishability (Avon 5). One immediate benefit that Avon has continually derived as a company is increased job satisfaction from the involvement of its employees in the CSR projects. For example, Avon’s Hello Green Tomorrow program generated over $3.5 million to restore the Atlantic rainforests of Brazil and the tropical forest in Indonesia. Avon’s staff reported immense pride, zeal, and satisfaction from the social initiative.

CSR as Smart Business

Secondly, CSR is smart business. Analysts estimate that, through contributing to causes that affect most of its clientele, like breast cancer awareness and speaking out against domestic violence, Avon’s brand image and loyalty have significantly increased globally. Therefore, more companies are appreciating the link between executing a smart CSR strategy and a company’s improved profits.

Works Cited

Bright, Beckey. “How More Companies Are Embracing Social Responsibility as Good Business.” Wall Street Journal www.wsj.com. 11 Mar. 2008.

Pitman, Simon. ”Avon CSR Boss Explains How Employee Engagement Has Helped It Reach Sustainability Goals.” Cosmetics designs - Asia N. p., n. d. Web. 2 Feb. 2017.