It’s safe to say things are getting pretty grim out there. However, for the things you CAN control, CONTROL THEM. Here, this will help…
Fact: We’ve entered a global crisis and there has never been more of a need for your business to give back than right now.
And, if you’re still focussed on maximising your shareholder’s value (aka: making lots and lots of money), instead of giving back to your community or the wider economy, then this directly applies to you.
Ok, so let’s take a (quick) stroll through history…
Maximising shareholder value has been the most important thing for several decades (since post WW2 pretty much). It’s increasingly become about generating returns to shareholders in shorter and shorter time periods, so their risk is minimised.
That worked fine until the financial markets collapsed, consumers starting recognising that many businesses had no care or concern about the negative impacts they had on the planet, and climate change happened because of ever increasing levels of consumption and an ethos of use and throw away.
But, all of a sudden, it seems the world is going to shit.
We’re now seeing the global consequences of a virus, which has absolutely highlighted the need to look at our economic system.
It’s not about a virus spreading, because you’re more likely to be killed by another human or a snake, and much more likely to die from starvation than contracting it, but…
…the point is that it has, without a doubt, highlighted the fragility of our current financial systems and capitalism as the way to operate.
This means businesses now have to make a decision…
Are you going to continue focusing on maximising shareholder value?
If ‘Yes’ = Prepare for a slow death and decline, and in some case fast death and decline
If ‘No’ = OK, good. You’re smart. So, what’s your approach going to be?
- Contribute to society through CSR type initiatives such as fundraising, donations to charities and volunteering. Basically the approach is PR/marketing driven to make it look like you care? OK…not a bad start, but how about…
- Integrate your impact into your operations and strategy – so you’re looking at things like your purchasing decisions, supply chain, improving the local economy, recruiting local people and the impact of how you operate. Nice. Better still..
- Put impact at the heart of what you do – this means delivering a socially or environmentally friendly product or service, and positioning yourself as a social enterprise. JACKPOT.
The choice is yours, but my vision tells me all businesses will be social enterprises.
You may as well change now…and change the world for the better.