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As society looks to address deep problems, how can business enhance value creation?
Develop the insights, tools, and strategies to unlock change.
Consider the challenges we face personally:
“I hate you, Dad,” spits my four-year old son, Reuben, a scowl darkening his face.
I close my eyes and stop breathing a few moments.
I love the little guy, yet that word “hate” is so destructive, and Reuben uses it frequently when frustrated.
Late in the evening, I lightly place my hand on my wife’s fingers as we discuss our son’s mean habit. As parents, we want Reuben to share his anger, but constructively. Learning healthy patterns is critical for all of us, but difficult to master.
It will take trusting relationships among my wife, Reuben, and me to develop healthy emotion-management skills.
In many areas of society, we are also looking to improve challenging-to-achieve outcomes:
- We talk about ‘reducing racism’, which requires shifting how we view others and how race translates into decisions across society.
- We look to ‘eat healthier’, but that demands changing the food we surround ourselves with, and the meals we select.
- We look to reduce healthcare costs and increase Americans’ lives (currently the shortest in the developed world), yet that commands a new perspective on healing ourselves and avoiding death.
Such shifts tug at the essence of how we live.
The solutions will differ from those most celebrated during the Industrial Revolution. No magic glasses, innovative broccoli, nor high-tech pill will solve these challenges. Digital technology will support the solution, but it isn’t the answer, by itself.
We need coordinated actions that spur constructive decision-making, easier-access opportunities, and supportive information. Individual leaders will need to proactively reach across organizations. Individuals must be respected as members of recognizable groups, as well as individuals, and those individuals must trust business’ intent.
We have a wonderful start. Organizations across the spectrum participate. Walmart, for example, is investing $100 million in a new center for racial equality. Businesses, governments, and non-profit organizations across Europe are energizing the Farm to Fork initiative focused on sustainable, healthier food. And pharmaceutical manufacturer Eisai collaborates to bring their mission to life in global projects (earning and maintaining trust with patients, their families and caregivers, colleagues, stakeholders, business partners and communities they serve.)
But what’s your role? Perhaps it’s working with Heritage Sports, to strengthen the broadcast network for the Historically Black College and University community; or illustrating the systemic elements of our unhealthy food problems, as Dr. Steve Greenspan is researching; or integrating social responsibility into healthcare business, as Teri P Cox has successfully energized for decades.
The call to action of such efforts should resonate strongly with business. Each social problem destroys billions of dollars in value. So the solution can directly deliver billions of reasons for investors to support problem-solving. And collaboration in areas critical for social answers is perfectly compatible with market competition.
Could a meaningful social responsibility strategy boost your business? Is there a demographic with which you’d like to further develop relationships?
Safeguard your future today, while positioning yourself to thrive for our children tomorrow.
Rod
Dr. Rod Wallace is an economist, consultant, and speaker who helps businesses make more money by solving society’s problems. A Fulbright Fellow, he has led multi-organization billion-dollar initiatives worldwide and partnered with a Silicon Valley pioneer to explore the impact of Artificial Intelligence on society.
Rod speaks about how to integrate social responsibility into business to maximize profit and purpose. He highlights digital technology’s impact on society and the strategies and tools with which business can solve our big, systemic problems.
Contact Rod at info@RodWallacePhD.com.