Socially-Driven Companies Have A Competitive Advantage In Business

Denver, CO (PRWEB) April 22, 2015 - A recent survey of small business owners by The Alternative Board (TAB) revealed that 38% of respondents strongly agree that their company “is built around positively contributing to society.” The results of the survey show that socially-driven businesses are more optimistic, fare better than their competition, and represent a stronger personal vision.

What defines a company as being socially-driven? The survey suggests that socially-driven companies are companies that focus on their people. 85% of the businesses that identified as “socially-driven” strongly agree that their company “pursues win-win relationships with customers, employees, partners, and other key stakeholders.”

“Socially-driven companies seem to place an increased importance on human connections and relations,” says TAB Vice President David Scarola. “They listen closely to what stakeholders are saying, but don’t neglect their employees or customers. It can be a difficult balance for other businesses to strike, but it may also be the key to a better overall sense of purpose and a more confident approach to doing businesses.”

Of the 38% of business owners who identify their company as “socially-driven,” a strong majority feels optimistic about their company’s future. When asked how sales revenue would change one year from now, nearly twice as many socially-driven business owners (26%) expected an increase, compared to 14% of their counterparts.

The survey shows that nearly half of business owners who identify as “socially-driven” describe their companies as “ahead of the competition,” in contrast to the 38% of business owners who do not.

Scarola suggests that the key to this advantage is a strong sense of personal vision. When asked “how would you rate your own personal vision and sense of purpose,” 20% of socially-driven owners selected a 10 (out of 10) compared to 7% of other owners, who more commonly selected a 7 or 8.

“A clear personal vision is an excellent motivator for success – especially when shared with others,” Scarola says. “By aligning their vision with their people, socially-driven business owners are held further accountable to their goals.”

“Companies who do good, do well – better than the competition,” says TAB franchise owner and author of The Glass Company, Bill Paolillo. “What we found was the company's growth came from referrals by their customers, employees and suppliers. Companies for good recognize their customers are a bridge for their message – a means for broad dissemination enabled by the Internet.”

To read a full review of the survey’s findings and learn more about what they mean for your business, visit The Alternative Board. For more information, or to schedule an interview with David Scarola, contact Lynn Maleh at lynn@contentfac.com.

SOURCE The Alternative Board

Contact:

Lynn Maleh
The Alternative Board
+1 (908) 656-6339

###

Share this Story:

Comments:

comments powered by Disqus

Franchise News Room »


News By Industry »


Featured Opportunities

Minuteman Press International
Minuteman Press is the world's largest & number 1 rated printing & marketing franchise. Our business model features multiple revenue streams,...
Sonic Drive-In
Here's your chance to own a SONIC® Drive-in Franchise Restaurant. As the nation's largest drive-in chain, SONIC® has successfully served up hot,...
Lightbridge Academy
Lightbridge Academy has a way of making parents and children feel like they’re special. Here, they are surrounded by a Circle of Care that’s more...
B.GOOD
B.GOOD is an innovative fast-casual restaurant concept serving healthy, sustainably-sourced, and hand-prepared fresh food in-house.
Kona Ice
We have a question for you. What determines the success of a franchise? Is it luck? Coincidence? Kona Ice was ranked #1 New Franchise in Entrepreneur...

Subscribe to Franchising.com Express

A Franchise Update Media Production
Franchise Update Media | P.O. Box 20547 // San Jose, CA 95160 // PH. (408) 402-5681
Copyright © 2001 - 2017. All Rights Reserved.

In Loving Memory Of Timothy Gardner (1987-2014)