By Bradley K., Mirvis, Philip H., Rochlin, Steven A. Googins
The authors have carried out broad learn into the function of commercial in public existence. This booklet takes a practice-oriented examine company citizenship, and makes use of genuine, behind the curtain examples from famous businesses to teach that for plenty of organisations social accountability is turning into extra built-in into company strategy.
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These contradictory implications for business and society display the two faces of globalization. In other times, a national government or coalition of nations has been able to take control of challenges and respond with new policies and remedial programs. Today governments have their hands tied by the forces of globalization, and it is uncertain who will respond to the new challenges. In the absence of a global governance structure, the greatest responsibility to manage the effects of globalization may fall on its greatest benefactor: business.
What is the evidence that companies can do good and do well? The Center has done a comprehensive review of the business case for corporate citizenship. 1 and Appendix 2 for details). These benefits include not only goodwill, but also the relevance for customers, employees, reputation, social investors, and, in select cases, innovation and market development. No wonder, then, that many business executives see value in corporate citizenship. S. companies finds, on this count, that two of every three company leaders today believe that citizenship makes a tangible contribution to the bottom line.
Or as a peer phrased it, “A company’s responsibility is to create value for shareholders in a way in which all of the various constituencies involved are seriously considered. ” This argument, phrased in different ways by several interviewees, makes the base case that companies should not harm their stakeholders because it will, in the longer term, harm the firm and the interests of shareholders. Many also spoke to the upside: the advantages that come to a company from doing good. ” Several executives referenced the importance of citizenship in winning the “war for talent,” especially in light of the aspirations of the twenty- to thirtyyear-old Millennial Generation workforce.