Being socially responsible does provide a firm a more positive overall reputation. A survey of more than 700 global companies by the Conference Board reported that 60% of the managers state that citizenship activities had led to (1) goodwill that opened doors in local communities and (2) an enhanced reputation with consumers. Another survey of 140 U.S. firms revealed that being more socially responsible regarding environmental sustainability resulted not only in competitive advantages but also in cost savings. For example, companies that take the lead in being environmentally friendly, such as by using recycled materials, preempt attacks from environmental groups and enhance their corporate image. Programs to reduce pollution, for example, can actually reduce waste and maximize resource productivity.
One study that examined 70 ecological initiatives taken by 43 companies found the average payback period to be 18 months. Other examples of benefits received from being socially responsible are