Wendy's Blog

Kevin Wong recently wrote a post about business ethics on his blog in which he questioned businesses’ right to allocate their investments “towards purposes that wouldn’t increase the return on their investments?” and profits “for social causes – without (the customer’s) knowing?” I agree with Kevin in that companies have no rights to support causes with their investor’s money or their revenue. However, I believe that businesses’ still need to find a way to express their interest in developing/maintaining social responsibility. A way for them to do so would be first finding a suitable and sustainable cause, notifying their investors of their degree of involvement, and then asking for their support. In my opinion, it is easier to find those who share similar values when requesting support (from both investors and customers), as they are more likely to provide financial assistance and less reluctant to purchase your product/service. An example would be TOMS Shoes, where the company has clearly advertised that a single purchase of a pair of shoes would result in another pair being donated to a child in Africa. Thus, it is more likely for consumers who believe in solving this problem (helping children in need) to purhcase a pair of TOMS as a means to support this cause.

Tags: No Comments