For SME SJ Low Bros & Co, the biggest benefit of giving lies in enhanced employee engagement and retention.
In 1970, Milton Friedman famously remarked: “There is one and only one social responsibility of business: to use its resources and engage in activities designed to increase its profits.”
The famed American economist was opposed to the concept of businesses having a social conscience, since he believed this would be a distraction from the primary purpose of making a profit.
So it is ironic how closely interconnected the two concepts are today. As companies seek to retain talent and attract customers in an ever more competitive environment, corporate social responsibility (CSR) has become a key way for firms to be recognised for their distinctive values and community engagement.
Indeed, there is now a business case for doing good – and companies in Singapore, both small and large, have taken note.
For small and medium-sized enterprise (SME) SJ Low Bros & Co, the strongest benefit of giving lies in heightened employee engagement. . .
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