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Why Companies Can No Longer Afford to Ignore Their Social Responsibilities
In 1970, the economist and Nobel laureate Milton Friedman published an article in The New York Times Magazine titled, “The Social Responsibility of Business Is to Increase Its Profits.” In the article, he referred to corporate social responsibility (CSR) programs as “hypocritical window-dressing,” and said that businesspeople inclined toward such programs “reveal a suicidal impulse.” Even four decades ago, at a time of growing public concern for the environment, his views represented the general skepticism and contempt with which many in Corporate America viewed CSR.
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Shopping for a Better World
To be successful in business today, a company must do more than just sell a good product. According to a recent study (pdf), 80 percent of Americans are likely to switch brands, if comparable in price and quality, to one that supports a social cause.
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- Sub-Saharan Africa
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The Power to Give Strategically: Indian Philanthropy Forum by Dasra
The opulent Taj Mahal Palace hotel in Mumbai set the stage for high-net-worth individuals, socially-conscious investors and foundations, and corporate leaders to discuss the state of strategic giving in India. According to keynote speaker Matthew Bishop of The Economist, a “good billionaire” is increasingly becoming defined as one who, Bill Gates-style, thinks twice before simply writing a check.
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- Uncategorized
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BoP Boom in Japan Part I
The year 2009 was referred to as “The first year of BoP in Japan”. Not only did the Japanese translation of the late Prof. Prahalad’s “The Fortune at the Bottom of the Pyramid” received much attention, BoP market analyzation that focused on emerging markets in Asia and African countries gained wide recognition too.
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- Uncategorized
- Region
- Asia Pacific
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SC Johnson and Cornell Kick Off New Business with a WOW!
Cornell University's Center for Sustainable Global Enterprise and SC Johnson today announced the launch of a new product concept developed in partnership that hopes to generate a "WOW" from rural consumers in developing markets. Recently unveiled in the village of Bobikuma, Ghana, WOW™ is a membership-based club whose products and services help low-income homemakers care for their homes and families.
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B Lab Releases First ‘Best for the World’ List of Businesses Creating Most Overall Positive Social and Environmental Impact
'Best for the World' businesses score 50% higher than nearly 2,000 other sustainable businesses in most comprehensive assessment of overall corporate impact
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- Impact Assessment
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Welcoming the ‘Zeronauts’: Pushing Problems Toward Zero
John Elkington, who coined the phrase "triple bottom line," is jumpstarting a new dialogue. In an upcoming book, The Zeronauts: Breaking the Sustainability Barrier, he details 50 enterprises and their entrepreneurial champions who are all working towards zero: zero pollution, zero poverty, zero pandemics, zero population growth and zero nuclear proliferation.
- Categories
- Energy, Environment
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Paul Polman, CEO, Unilever: Winning with Purpose – A message to members of Business Fights Poverty
Business has been a powerful force in improving the lives of millions of people on our planet – whether through product and service innovation, job creation or new opportunities for suppliers and distributors. Yet, I believe business can do so much more.
- Categories
- Environment