I am a big proponent of Shared Value approaches originally prepared and pioneered by Harvard’s Michael Porter.
I accept that without a profit there is no role for business, never mind engagement in helping to solve the major problems in society. Conversely, without a stable, capable, inclusive society with working institutions, there is no certainty for business.
The greed based abuse in the Great Recession of 2008-10 was a low point for public trust of business and business leaders. It has not gotten much better in the ensuing years. The reaction to the recent excessive executive pay at Bombardier who just got an enormous taxpayer bailout show this disgust and distrust is alive and well.
This is not about marketing through a donation budget or Corporate Social Responsibility which is usually just glossy compliance reporting.
Enlightened and non-entitled executives are embracing the progressive movement of shared value through triple-bottom-line. This article by Steven Murphy, the Dean of Rogers School of Management at Ryerson University is a Canadian context on this vital rise of a wider awareness of the role of business.
If you and your business are already into or truly interested in this space, let me know. I would be delighted to work and explore the possibilities with you.