Moving Beyond CSR to Rethinking Capitalism
CSR (Corporate Social Responsibility) has been the talk for the past several years in the business world. In this insightful video interview of Dr. Michael E. Porter, one of my favorite economist and business strategist, he explains why business leaders must focus on shared value – creating products and services that benefit not only the company but also society.
Dr. Porter stresses the importance of companies not looking at improving society as only the by-product of their charity, but rather, as a core drive and value for their company. In his opinion (which I agree with), the two worlds of business and charity have unnecessarily separated from one another. Dr. Porter emphasizes the importance of companies not viewing charity as something that you volunteer at on the weekend with your employees. It’s more than just CSR.
Dr. Porter provides a great example from our engagement with fair trade in this video. He states that we must move past giving just a fair wage to a farmer and intentionally move towards providing better training, access to self-sustaining resources and logistical systems to get higher products to market, and improving profitability. Why settle for 20% increase in profitability when given access to the right help and systems, farmers achieve 10x’s more while producing better products?
Dr. Porter’s thoughts are challenging and gives us a glimpse in our ever-changing world market. I personally feel he captures much of the conversation we hope to have at Ideation Conference this year in March.
Look forward to hearing your thoughts.
Blog Update Moving Beyond CSR to Rethinking Capitalism: CSR (Corporate Social Responsibility) has been the talk … http://bit.ly/fJbxdQ
Blog Post: Moving Beyond CSR to Rethinking Capitalism http://bit.ly/hB26fX
Blog Post: Moving Beyond CSR to Rethinking Capitalism http://charlestlee.com/business/movi…
RT @charlestlee: Blog Post: Moving Beyond CSR to Rethinking Capitalism http://charlestlee.com/business/movi…
RT @thecommon: RT @charlestlee: Blog Post: Moving Beyond CSR to Rethinking Capitalism http://bit.ly/hB26fX // Thnx! Great video 🙂
@keithkall Moving Beyond CSR to Rethinking Capitalism http://bit.ly/hB26fX // Thought you might enjoy this.
Moving Beyond CSR to Rethinking Capitalism http://bit.ly/hB26fX // (great perspective from @charlestlee)
Video: Moving Beyond CSR to Rethinking Capitalism http://bit.ly/hB26fX @harvardbiz
Currently reading: Moving Beyond CSR to Rethinking Capitalism http://bit.ly/e6u9Nf // thanks @charlestlee // great stuff!
@cjcasciotta @SLAMovement @socialresponse @DuncanMcFadzean – Thnx guys for your RT’s about http://charlestlee.com/business/movi… // Glad you enjoyed it!
@charlestlee you’re welcome sir. Would love to catch up sometime soon
Charles, good call but how can we combat the views of shareholder capitalism. That is, business remit is to maximise profits. If the agents of the company can’t ignore that remit without being sued, how can they consider csr seriously? My own experience was that major employers wanted to say they supported this but as soon as it impinges on core.k business they are No longer interested. I do think we are .all partly responsible .for telling mutual funds to maximise the value .of our 401ks. Are we willing to take a hit on our investments to our pursue csr? I think we should be.
Thanks Duncan for your note. Excellent questions!
Porter kind of alludes to it in passing of changing the mindset of shareholders. Nevertheless, you’re absolutely right…it is an incredibly difficult reality to overcome (unless you curb expectations on the front end as you launch the company). It definitely requires our public to revisit what investments should (in a moral sense) do.
I like Porter’s attempt of projecting the possibility of growth relations between profit and benefiting our world.
Thanks again for your comment!
RT @charlestlee Moving Beyond CSR to Rethinking Capitalism http://bit.ly/hB26fX @harvardbiz video