By Todd Cohen
Corporations that say they care about doing good are not doing a good job of turning socially-responsible intentions into new business.
That’s the lesson of a new study by The Center for Corporate Citizenship & Sustainability, a new project of The Conference Board, and it underscores the opportunity for corporations to better integrate their business and citizenship strategies.
Much research has shown that socially responsible companies are more attractive to employees, customers, investors and vendors.
Yet, according to the new study, most companies concerned with corporate responsibility do not have an active strategy to develop new business opportunities that grow out of their work in addressing citizenship and sustainability needs.
“This mixed perspective of a glass more than half full of market awareness and nearly half empty of product response demonstrates that there is work to be done in bringing corporate citizenship, sustainability or corporate social responsibility programs to the forefront of executives’ minds,” according to David J. Vidal, research director for global corporate citizenship at The Conference Board.
Good corporate citizenship can be good business, and companies can do better for themselves and their communities by better integrating their strategies for their work and their good works.
Todd Cohen is the Editor and Publisher of the Philanthropy Journal.