Fire, Floods, Hurricanes: How And Why Corporations Must Help

by MR Magazine Staff

Corporate social responsibility is part of virtually every corporations’ mission statement today. But as Thomas Malnight, professor of strategy and general management at the International Institute for Management Development (IMD), in Lausanne, Switzerland, and coauthors write in a McKinsey & Co article, translating good words into good deeds is often a challenge: As customers, employees, and suppliers—and, indeed, society more broadly—place increasing importance on CSR, some leaders have started to look at it as a creative opportunity to fundamentally strengthen their businesses while contributing to society at the same time. They view CSR as central to their overall strategies, helping them to creatively address key business issues. The big challenge for executives is how to develop an approach that can truly deliver on these lofty ambitions—and, as of yet, few have found the way. With the recent avalanche of natural disasters hitting the United States, including the wildfires in northern California, hurricanes and flooding in Texas, Florida, and Puerto Rico, corporations are called upon to help those who are suffering, often including their own employees living in the areas affected. Read more at Forbes.