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Published online by Cambridge University Press: 05 December 2013
It’s a commonly held adage that successful businesses are good for the community. What is not always so well understood is that successful communities are good for business.
Richard PrattCOMMUNITY VALUE AND BUSINESS IMPACT
PREAMBLE
Is your enterprise regarded as a good corporate citizen?
Does it give your industry a good name or a bad name?
How do you know that the “good deeds” you perform as part of discharging your “Corporate Social Responsibility” are having any impact on the success or otherwise of your business?
In fact, are you doing anything in this area that reflects your company’s concerns about its impact on the local community, or about preserving the environment, or efforts in pursuit of the betterment of humanity locally or globally?
Amazingly, with all the stunning examples of very successful people and corporations who have been putting something back into the community, there are still many enterprises that “don’t get it.”
On the one hand, the Bill and Melinda Gates Foundation provides very considerable financial support for projects directed at improving global health, reducing poverty and aiding development. Warren Buffett, investor extraordinaire, has announced that his accumulated wealth will be donated to the Foundation.
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