Over the next few years, a majority of manufacturers (more than 75%) believe that corporate responsibility initiatives can enhance profitability, according to a survey by Grant Thornton LLP.
"Today, corporate responsibility programs are a large part of what customers demand," said Jim Maurer, Grant Thornton's national managing partner for their Consumer & Industrial Products Practice. "Corporate responsibility programs have moved out of the realm of public relations to become real
tools for improving the bottom line. Companies are realizing that strong investment in corporate responsibility programs is both a civic obligation and successful business strategy," he added.
The survey found that more than 63% of executives believe that human resources should lead corporate responsibility initiatives, followed by public/government affairs (47%), marketing (30%), investor relations and legal (27%), and compliance (22%). (Respondents could select more than one
When asked if legislation and governmental policies ultimately drive corporate responsibility, 46% said it did.
However when it comes to sacrificing profit to implement corporate responsibility practices, 41% were not willing to do it.
The data is derived from 159 manufacturing industry respondents in a survey of more than 500 business executives.