Budding Opportunity for Corporate Entrepreneurs

Corporate social responsibility (CSR) has grown increasingly strategic, and a broader concept of sustainability has gained ground.

Public pressure to address negative corporate externalities, and pressing social, economic, and environmental issues drove the evolution of these practices. Over time, they have blurred the lines between the public, private, and civil sectors, and redefined traditional roles and structures in the process.

International nongovernmental organizations (NGOs) try to fill the gaps amid calls for greater efficiency and more demonstrable impact, but with fewer resources, more constraints, and increased competition for donor dollars. The public sector and civil society are increasingly looking to the private sector to play a larger role. The question is no longer if companies have a responsibility to society, but how best to execute it.

Many companies are stepping up to the call, navigating the competing demands of shareholders to deliver maximum profits in the short-term, and the demands of employees, consumers, and other stakeholders to respond to long-term social issues. Yet others still struggle to deliver cohesive and authentic programs.

A more integrated approach has the potential to transform such initiatives into programs that benefit business and society.

Source: Joshua Cramer-Montes via Stanford Social Innovation Review

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