Corporate America is shifting from a business model where the shareholders who take all of the risk reign supreme to one in which shareholders share the social value limelight with other constituents: communities, suppliers, laborers, environmentalists, and the public. This is all occurring under the rubric of corporate social responsibility.
Jeffrey Immelt, CEO of General Electric, characterizes the new CSR business model this way: “Profits are created by businesses that are doing things that have real societal benefits. And businesses have not done a good job of describing that.” So this month, I’m going to focus on what companies can do ...