Last month, I wrote that your company’s response to the coronavirus might redefine your brand. We know from experience that nothing defines a company, its culture and its brand more than its response to a crisis. For corporations, crisis response has gotten a lot more complicated as information has become democratized. With internal and external
The COVID-19 outbreak has thrown us into a time that can be described as unprecedented for many reasons. For one, businesses across the globe are making quick shifts for the good of workers, customers and society. These shifts for the greater good may prove to be impossible to roll back when the virus blows over.
In recent years, sustainability has become a popular buzzword — but it still doesn’t always have a seat at the strategy table. Until that happens, benefits will not accrue to either firms or to society, says C. B. Bhattacharya, a professor of sustainability and ethics at the Katz Graduate School of Business at the University
When I first became an entrepreneur, I didn’t think about the social impact my business could have. I was focused on growing my brand, hiring great people and serving our customers better than the competition. But today, corporate social responsibility (CSR) is as essential to building a successful business as sales or marketing. There's no
For years, it seemed that people who wanted to do good in the world thought they needed to create a non-profit. Now we are seeing a change as for-profit businesses tackle what were traditionally non-profit goals. Social entrepreneurship is the growing realm of mission driven business enterprises that view financial success as a way to
We live in a world of smart, connected ovens, but one in which 795 million people do not have enough food to eat. We are witnessing exponential growth, but also great inequality. Addressing this kind of polarization is no longer solely the role of governments and the non-profit sector. Large corporations have the opportunity, while still in
In 2015 Samuel Kalika was looking to set up a creative project in Portugal. But his idea “completely tilted”, he says, when he arrived and saw the extent of poor-quality housing in the country, contributing to high mortality rates in winter. Today, he’s the founder and director of Critical Concrete, a company that researches and educates on sustainable
Dive Brief: American workers want more social responsibility from their employers, according to the latest Role of the Company Survey, an annual poll from MetLife. Of the respondents, 70% think their companies should address societal problems, up from 63% in 2017. And just over half (52%) expect their employer to solve problems, an increase from last
Stories about extraordinary people who model compassionate leadership are fascinating and can provide inspiration for developing this ability. Compassionate leaders acknowledge our universal interconnectedness and use their influence to make a positive impact on others and the planet. These leaders are courageous, contemplative, collaborative and care about the world they will leave behind. Compassionate leadership
As the nature of work changes, so too does our understanding of careers. This is one of the most important trends covered in Deloitte’s 100-page 2018 Global Human Capital Trends Report. While 84% of respondents who took part in Deloitte’s survey deemed the ability to build a 21st-century career as “important” or “very important,” only 37%
It’s been a generation since Whitney Houston's "Greatest Love of All" was burning up the charts, but the lyrics have resonated for me as a parent and equally as a financial advisor over the years. "I believe the children are our future/ Teach them well and let them lead the way." As Mother’s Day and
In 1970, economist Milton Friedman published his seminal magazine article, “The Social Responsibility of Business Is to Increase Its Profits.” Since then, the line between portfolio management and philanthropy, profit and purpose, has blurred. Profits may still be a key measure of a company’s value to consumers and society, but perspectives on corporate social responsibility
Corporate social responsibility has been a buzzword for a while. And it’s not hard to see how communities stand to benefit when firms are serious about CSR—be it by participating in a clean water campaign or having a large philanthropic presence. But what about the firms themselves? How does doing good affect their bottom line?
Silicon Valley technology has been unkind to traditional middlemen. Streaming music punished the record industry. Netflix killed video stores. Life has become harder for intermediaries such as travel agents and stockbrokers. So it is perplexing that when it comes to philanthropy, Silicon Valley has given birth to an intermediary that has rapidly grown into one
What is the ultimate purpose of a business? Some might say it is to maximise returns for shareholders and investors; others may see it as delivering excellent customer service through its products or services. However, there are those who feel that businesses can also play a central role in ensuring our society lives within the