One of the most interesting trends in business in the past decade or so has been the growing importance of corporate social responsibility (CSR). Companies are no longer expected just to earn a profit. We’re also judged on what kind of contribution we make to the world around us. And by contribution, I’m talking about more than traditional corporate philanthropy. It’s also about doing our part to help address social, economic and environmental challenges – not at the expense of our business, of course, but as part of making our companies and communities stronger.
The challenges have never been greater. The global economic crisis has deepened the needs of communities around the world. Government can help by stimulating economic activity and reinforcing social safety nets. But the scale of the problem is too great for government alone. Communities also need the support of businesses and individual employees, working hand-in-hand with local organizations.
I saw a lot of that with our own employees over the holidays. Many of them substituted community service projects for their traditional holiday celebrations. Like employees at other companies, they identified a need and acted on it, contributing their own time and money. They’re demonstrating that individuals and teams of employees – encouraged and supported by their companies – can have an enormous impact on community needs.
Corporate social responsibility, of course, requires more than a focus on immediate needs. It has to be balanced between today and tomorrow. Such key issues as sustainability, education and economic development require a long-term view and a long-term commitment – as well as long-term partnerships with other organizations and institutions. Read more »
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