Business Culture: Social Impact

By James Prumos, Trending Writer

In recent years, businesses have been appealing to the promotion of various social agendas. One reason for this could be the growing prominence of millennials as consumers of goods and services. According to Andrew Swinand of Chicago Business, millennials, which now make up the largest population group in United States history at 86 million; 7 in 10 millennials consider themselves to be social activists. In addition, 1 in 3 may support or boycott a company based on causes the company supports, 4 in 5 would purchase a company’s product if they supported a cause the millennial also supported, and 3 in 4 believe companies should create economic value for society by addressing its needs. Finally, 3 in 4 are more likely to apply to a company that supports a cause the millennial also supports.

A similar view of this phenomena is discussed by Casey Fisk on LinkedIn. Per her article, millennials are the most diverse and socially responsible generation in American history; millennials want to take an active part in improving their local and global communities. Because of this, they can be highly critical of companies that are not upfront about their participation in social causes. This makes it more important than ever for companies to be upfront about charitable giving and other types of participation in promoting social causes to increase the value of their brand.

The increased social responsibility of the young workforce means that companies need to obtain the best employees for their work and more actively take part in social activism if they want to remain competitive. This also means that potential employees of all ages may have to become more active in social causes in order to gain employment. With the changing attitudes towards supporting causes, involvement can look good on a resume and make potential employees stand out from the crowd.

Ultimately, this loop of increased activism in millennials causing increased corporate social responsibility can end up changing our society and encourage increased social activism in all generations. Most of the business leaders of today are either Baby Boomers or from Generation X, so if those business leaders make efforts to promote their brand through increased social activism, it will rub off on the individual leaders themselves and therefore could extend to that generation at large. None of this can be stated with any certainty, but it would not be a surprise if the future average American becomes more socially aware than ever before.

A version of this article appeared in the Tuesday, March 21st print edition.

Contact James at

james.prumos@student.shu.edu

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