Let's agree that there is a general consensus today that business plays an ever-increasing role in society and a corporation’s responsibility goes beyond just making profits.
The concept of corporate social responsibility (CSR) however has evolved from the understanding that a company should look after not only its investors and customers but also its employees, the larger society and community, and even the environment, thus giving rise to the triple-bottom-line approach of enhancing profit, people, and planet.
According to an Arlene Garrick article published in LinkedIn, "companies deemed good corporate citizens are attractive to new customers and workers, and assist in raising staff morale, and have lower operating expenses. A recent study by a University of Chicago professor published in Management Accounting revealed that companies that are perceived by the public to demonstrate more socially responsible business practices and ethics are likely to perform financially better than those who do not. In 1995, a study conducted by Vanderbilt University found that eight of ten cases of low-polluting companies financially outperformed their dirtier competitors (Brands that do good, 2003; Act responsibly, 2004; Clark, 2006). As such, consumers prefer to do business with companies that have good CSR reputations."
For us, at Amsa Hospitality, engaging in CSR is not only motivated by the focus on return on investment, but a genuine desire to create positive change in society.