Linking CSR and Sustainability

This article i found on the internet seemed interesting, it talks about whether doing good is a sustainable business model. In my comm 101 class, we discussed the concepts of Corporate Social responsibility and sustainability separately and this article links them together.

The author first says 5 years after the global economic recession, caused allegedly by unbridled corporate greed, companies have made ‘being good’ more ingrained in company culture. Companies are trying harder now to present themselves as both virtuous while making profits. But then he asks, is doing “good” (CSR) a sustainable business model?

According to Phillip Haid, chief executive officer of Public Inc., a Toronto-based agency that advocates for social causes with campaigns to raise money and mobilize volunteers, “Yes. Imagine if companies started thinking about the social impact they wanted to create in the world and tied it to bottom-line performance. The potential impact could be incredible”

Some examples, according to Mr. Haid include US shoe retailer Toms, which donates a pair of shoes for each one sold. Warby Parker does a similar thing with sunglasses. But according to him, for this to work the core product has to be really good.

However, according to Mr. Kutney, being good is “beneficial, but a drop in the ocean in light of the systemic and global challenges facing modern society”, which includes the rising income inequality and climate change, which requires all sectors of society, especially the corporate world, to work together to help solve them.

Source: http://www.theglobeandmail.com/report-on-business/careers/career-advice/life-at-work/good-vibes-for-social-responsibility/article14575293/

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