As a leader, how often do you ask yourself if you can do more to benefit society while keeping consistent with your firm’s mission? Is there another stream of revenue– one that is particularly meaningful– that you are leaving untapped?
If you’re unsure about how to get started, begin with your firm’s strategic plan. There is no need to reinvent the wheel. Consider ideas for addressing social issues using business models you already have in place. As in other aspects of your business, approach it from the firm’s area of expertise. I don’t just mean industry or service. What business model works well for your firm already? Duplicate it or simply tweak an existing one. Staff can be a good source for innovation when considering how to be involved in solving socially responsible solutions as well as how to approach getting the work done. Your job as leader is to facilitate the discussion and remove barriers to success.
Michael Porter shares my perspective and speaks about his own in this Ted Talk, Never Mind Corporate Responsibility, Companies Can Solve Actual Social Problems. He sees social responsibility as the largest opportunity in business today– solving social problems (also referred to as corporate social responsibility (CSR).
I think we can all agree the possibilities of solving social problems and, thus, our involvement is endless.