Sometimes good things come in small packages. For me, it was tiny little article in the 12/23/06 New York Times called Strategic Corporate Altruism which lead off as follows:
APPARENTLY, you really can do (extremely) well by doing good.
If companies were to analyze how to be socially responsible “using the same frameworks that guide their core business choices,†they would find good corporate citizenship to “be a source of opportunity, innovation and competitive advantage†argues a bannered article in Harvard Business Review.
The secret, write Michael E. Porter, a Harvard Business School professor, and Mark R. Kramer, managing director of FSG Social Impact Advisors, a nonprofit research group he founded with Mr. Porter, is to make sure a company’s efforts at corporate social responsibility, or C.S.R., mesh with its strengths and marketplace positioning.
“The essential test that should guide†corporate social responsibility, they write, “is not whether a cause is worthy but whether it presents an opportunity to create shared value — that is, a meaningful benefit for society that is also valuable to the business.â€
As examples they cite Toyota’s decision to respond to concerns about automobile emissions by creating the Prius, a hybrid electric/gasoline vehicle, and Microsoft’s $50 million five-year commitment to community colleges.
I will track down the HBR article and do some homework on FSG Social Impact Advisors for later posts. In the meantime, I’m thrilled to know that brighter minds than mine are focusing their gray matter on how companies can really do well by doing a little good along the way.