Allied Insurance Company was first formed in the year 1985. The two organizations that formed the partnership were Union Assurance Company and State Trading Organization. The company majorly takes on activities on economic practices. In the year 1987, the company purchased shares from the STO, therefore enabling the company to run its daily operations as a subsidiary business. With time the company cope up with the market which saw them become a major finance operating company. The situation made the company expand in the revenue level as well as the volume of the consumers who came in to acquire their services. The companies expansions came through utilization of the social responsibility aspect as discussed below.
Social responsibility is how companies give back to those in need because of the stakeholders or for financial gain. (Maqbool & Zameer, 2018). Many companies today have some type of social responsibility. Companies now days take the green initiatives program to reach out to the society on the importance of environmental keeping as well as trying to catch up with prominent consumers of their products. Through, philanthropy companies use this kind of design to implement on the social responsibility program to the company. “Companies contributes some of their amounts to the societies towards local uplift in education education and sometimes building infrastructures for the benefit of society. The skills through educational teaching helps people learn on the way possible they can beat the poverty, provide education and help the environment.
Most companies try to give back to their communities to show a social responsibility to their consumers. Where going green is the process of pursuing knowledge and practices that can lead to more environmentally friendly and ecologically responsible decisions and lifestyles, which can protect the environment and sustain its natural resources for current and future generations. The stated company can come up with programmers that involves the company staff and members as well as the society. The company can propose a one week session of tree planting or cleaning of the nearest town so that they can be seen by the public that really they got some attention on the societies hygiene.
The presence of the companies social media pages can help reach out to their prominent customers on the program. At this point, it helps the company get adequate aid from the customers as well as the funds from well wishers willing to support them with the program. In addition, there are companies which have been designed to help out companies administer the go green program. Which aids to conserve the environmental good example of the company that offer support to the companies to run the environmental support is the Enterprise Green Communities, sponsored by Citigroup Foundation.
The company considers on the materials and the necessary resources that help decrease the impact caused by environmental pollution. A company that wants to invest in something like that will become more socially responsible by changing their material to accommodate the efforts of that company to become more aware of sustaining natural resources in their company. Also, if a company is having trouble or does not know how to go about making their company more socially responsible, there are many kinds of programs and grants that can help answer any questions.
The companies who allocate part of their time to promote social responsibility programs, for instance the environmental protection acquire essential results. (Balqiah, Yuliati, & Martdianty, 2021. The major importance include the engagement between the product providers with the prominent consumers of the products. This allows the two parties to interact and give their suggestion on the quality and quantity of the product they offer. They also give the companies heads the major suggestion that would help the company improve on their products and hence allow them make on more improvement. Through social responsibility, the company is able to build on its reputation that is marketing themselves to wide consumers as well as create a platform in which they can build trust to the consumers of their products. This therefore calls that the company will be able to win more hearts to the company which helps the company acquire more revenue as well as profits to the company.
Finally, corporations exist not only merely to make money at the cost of the ecology, that is the economy, buyers, as well as staff. Companies consider how to make a positive contribution to society, so as to attract and win the hearts of more and more customers well as sustain employees in the company. the main pillars to every business include the market for the products that the company produces well as the ability to consistently maintain the employees. Therefore the companies have to play the major role to win up the society.
Maqbool, S., & Zameer, M. N. (2018). Corporate social responsibility and financial performance: An empirical analysis of Indian banks. Future Business Journal, 4(1), 84-93.
Balqiah, T. E., Yuliati, E., & Martdianty, F. (2021). Customer attribution toward corporate social responsibility: the importance of social justice in COVID-19 donation. Social Responsibility Journal.