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Cannabis Business Owners High on Corporate Social Responsibility

Cannabis Business Owners Place High Value on Corporate Social Responsibility

There is no doubt that cannabis products can ease the pain, both physically and emotionally. But despite the global recession, the cannabis business seems to be booming and, at the same time, owners are making good money. But they are not all there for profit.

At least that’s what a representative of KOLAS, a Sacramento cannabis dispensary and delivery service claims. KOLAS always thinks globally, the rep says, but they are proud to support community initiatives and raise funds and/or provide much-needed resources to charities, as well as local events such as Concerts in the Park .

But what other ways are cannabis companies contributing to social justice causes and accountability? According to a recent article, “The complacent consumer mindset is gone!”

Today, more than at any other time in recent memory, consumers are demanding that companies change their traditional way of doing business by becoming ever more transparent in their day-to-day operations while taking a proactive role in environmental and of community as a whole.

Get into Corporate Social Responsibility (CSR)

Experts say that with CSR programscompanies can weave social and environmental concerns into the very fabric of their best business practices with the goal of not only making a fair profit, but also making the world a better place.

Now that cannabis is emerging as one of the world’s major industries, “its devastating story for minorities across the United States remains,” at least according to one cannabis expert. This means cannabis leaders should now consider giving back to their communities and building meaningful CSR for all.

Defining corporate social responsibility

Like the name intuits, CSR is a business practice that emphasizes environmental and social responsibility and accountability. Or put simply, CSR can take many forms, including philanthropy, volunteerism, environmental efforts and, of course, virtuous labor practices.

The difference between CSR and social equity

The term “social equity” is often thrown around when discussing the cannabis industry, but some say it’s important to realize that corporate social responsibility and social equity are not the same thing.

While CSR primarily deals with companies giving back to the community in order to demonstrate their willingness to act as good corporate citizens, social equity in the cannabis industry is directly related to a “social equity candidate.” “. These are said to be individuals who meet one or even more business criteria as listed by their respective state during their cannabis business licensing procedures.

Why it’s a good idea for companies to pursue CSR

Experts attest that companies and organizations across many industries are now building CSR programs that “align with their business and here’s why:

Increased social investment

Through CSR, many companies are offered the opportunity to communicate their liberal values ​​in a public forum. This is said to simultaneously create “good faith” within and around their community.

A consistent presence in the community can accomplish much-needed change through things like corporate programming, non-profit investments, and overall respectful treatment of the environment and the society that lives and thrives there. .

It is important to note that CSR is good business. This is because companies that invest in their communities where they do business are viewed in a positive light as they are business operations that are willing to give back. And it’s said to be one of the most powerful ways to market to your potential customer base.

Become a pioneer

Some business experts believe that the cannabis industry in particular lacks community leaders, as evidenced by other lucrative businesses with similar capital capabilities. In the long term, this absence will affect the ability of the cannabis industry to compete with other major business sectors.

If you are considering becoming a pioneer and taking the lead, you will want to consider the following factors:

  • Taking a leadership role in CSR in the cannabis industry will give you an incredible marketing edge over the competition.
  • Cannabis companies that commit to investing in the community will be the best, the first, and will set a new standard for what is still a nascent new industry (no pun intended).
  • If you invest in CSR now, you will gain a competitive advantage over competing companies that are still hesitant to get involved in their communities and environment.

The biggest cannabis companies will sooner or later realize the importance of CSR. It’s not only a nice gesture to give back to the community you serve and work in, it has now become more or less expected.

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