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Should you bother integrating socially responsible actions into your go-to-market strategy?
“Yes!” Socially responsible actions can be critical to delivering investor value, as well as strengthening society. However, the bulk of the business value only comes when social responsibility and core business actions complement one another.
The value of integrating CSR into business is similar to the impact of coordinating work and personal life. For example, a colleague annoyed me yesterday by saying, “Rod, you feel most strongly. Why don’t you do all the team’s work in this next phase?” That passive-aggressive, free-loading suggestion had me pacing my office, too angry to focus.
I could have left work, yelled at my sons, and started cooking dinner. Those actions would have been unaligned with my business need to calm down.
Instead, I let my work needs bleed into my social life. I bundled my sons into the car and drove to the karate studio. We ran into the building and immediately started tickling each other, giggles all around. And then we did a karate class. By the end, my mind was cleared by the human connection, laughter, and endorphins. I was ready to work again.
My actions in the karate studio were non-business social time. Yet, the business benefit in terms of clarity and focus was as large as my sons’ smiles.
Many businesspeople are (at least privately) as “hostile to the concept of CSR” as Jack Welch. For Jack, corporate social responsibility (CSR) was a ‘bunch of do-gooders wanting to play politician.’ Because customers and employees– and human resource professionals– demand CSR, such leaders will allow a fundraising drive or day of giving. But those actions are stuck onto the side of the business like a cheap bumper sticker, not integrated with core activities.
Jack Welch earned praise for his ability to drive leadership, envision business change, and deliver shareholder value. However, that value was fleeting. The value of GE stock fell 24% in the last year of Jack’s leadership and has shrunk further since. GE missed opportunities to respond to changes in our society.
In contrast, consider Peppercomm, a communications firm that “uses laughter to open our minds to think differently and produce breakthrough campaigns.” Peppercomm also applies its staff’s unique stand-up skills in their social responsibility, delivering comedy fundraising nights for local charities.
Of course, such comedy surely enhances not-for-profit fundraising. However, imagine the benefits to Pepeprcomm’s brand awareness. And the opportunity for Peppercomm employees to build relationships with senior community members invited to the events, which positions Peppercomm to respond to these prospects’ future needs.
In today’s digital technology world, there is no wall between business and the rest of society. To become the strongest organization, you must allow your core go-to-market strategy to strengthen your socially responsible business tools, and vice versa. So become a dynamic thread, entrenched in the fabric of society– able to develop unique insights and collaboratively respond to the business and social needs that evolve around you.
As an individual, are you aligning your work to the ever-changing needs of your social life, and vice versa?
Please share your thoughts in the comments or by sending me an email: info@RodWallacePhD.Com.
Our society cannot just survive. For the sake of our children, it must thrive.
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.