Many company owners and execs no doubt believe that demonstrating to clients and customers that they have a social conscience is a good thing for their companies, particularly if doing so won't have a negative impact on the bottom line. Corporate social responsibilty -- aligning a company's activities with the social, economic and environmental expectations of its "stakeholders" -- is the motherhood and apple pie of 21st century business. It's the kind of thing that most every company feels it's got to do -- or at least to give the appearance of doing -- in today's increasingly competitive business environment. Even Wal-Mart -- the 1,000-pound gorilla of the retailing marketplace -- has gotten into the act, declaring on its website that the company's "environmental goals are simple and straightforward: to be supplied 100 percent by renewable energy; to create zero waste; and to sell products that sustain our natural resources and the environment."

Well, guess what? It appears that adopting socially responsible business practices isn't just good PR -- adopting socially responsible business practices can actually make a business more profitable.

In a recent survey of 250 business leaders worldwide, the IBM Institute for Business Value found that more than two-thirds (68 percent, to be exact) are focusing on using corporate social responsibility activities to create new revenue streams. Not only that, but over half of the leaders surveyed (54 percent) believe that their corporate social responsibilty activities are giving them an advantage over their top competitors. IBM's report summed up its results as follows: "When aligned with business objectives, companies are beginning to see that CSR can bring competitive differentiation, permission to enter new markets, and favorable positioning in the talent wars."

In other words, it's all good.

If you're toying with the idea of adopting socially responsible business practices, first be sure that they are closely aligned with your company's objectives. Next, don't do things that just make you feel good -- do things that will increase your company's revenue while decreasing its costs. Doing good can be good for your customers, your employees, for the earth -- and for the bottom line. Believe me -- if it's good enough for Wal-Mart, you know it's got to be good enough for you.