Recession has dramatically changed expectations for corporate citizenship
Mar 10
I have argued many times in this blog that the economic crisis contributed to a severe drop in trust in business. Americans and citizens in most countries express the belief that business cannot be trusted to act responsibly. This fact is supported by the global research carried out by GlobeScan’s CSR Monitor and this trend is increasing. And that is not the end of the story, as an ever increasing percentage of people in almost every country studied said more laws are needed to regulate corporate social responsibility.
The interesting finding is that the deteriorating trust for business is accompanied with rising expectations of business for corporate citizenship and social responsibility. with the majority of opinion leaders expressing the view that business has not done enough to address key policy issues ie. the environment
In the U.S. almost 3 out of 4 managers and entrepreneurs believe that today businesses must show leadership, and commitment in keeping corporate citizenship on top of their list of priorities.
Thus, while recognizing the financial pressures of the recession, citizens all over the world still expect companies to make corporate citizenship a core strategic goal of how they do business. There is however a difference in the way small businesses approach the issue. They are reluctant to fire their employees and grind their teeth in an effort to keep the working environment stable. On the other hand large corporations are more prone to laying off large numbers of workers but they compensate by keeping up with most of the corporate responsibility plans.
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Mar 15 at 16:05
Professionally, they are equal in all responsibilities. It is a matter of degree because of the size or influence of how they protect their status. We are talking ethics, mission statement and a flexible business plan to ride the economic cycles. In reality, corporations designed to a living entity are similar to individuals where even though you have all the planning and the best of intentions conditions get the best of you producing less than stellar results.
Posted by John Gostomski
May 23 at 17:25
A key word you use is “strategic.” It seems to me that whether the firm is large or small the way they give should be strategic for the recipient as well as the giver. For example, I read about one firm’s ongoing efforts over years to help turn around the quality of a public school. How much more useful this is than just donating “stuff,” such as school supplies or overstock. Large or small firms can make their efforts strategic, in this sense.
In closing, please allow me to share a passage from Dickens that I think is one of the most beautiful things written.
“But you were always a good man of business, Jacob,” faltered Scrooge, who now began to apply this to himself.
“Business!” cried the Ghost, wringing its hands again. “Mankind was my business. The common welfare was my business; charity, mercy, forbearance, and benevolence, were, all, my business. The dealings of my trade were but a drop of water in the comprehensive ocean of my business!”
–A Christmas Carol
Posted by Shawn Dougherty