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The world is changing rapidly and companies, especially in recent decades, have not remained unaffected by changes.
Today, public opinion is extremely critical, subjecting companies to constant scrutiny. Therefore, they must strive to meet the collective expectations.
Mere advertising campaigns no longer suffice. Citizens question the practices and behaviors of companies. They want to check how their concerns for the environment are acted upon. Companies build based on what they want and promise to be, following the adage “Do what you say and say what you do.”
In line with this new mentality, companies are no longer solely geared toward generating economic value, but must also be committed, now more than ever.
Malpractice scandals have made companies rethink the need for developing solid mechanisms of responsibility. Corporate Social Responsibility is now part of the core business management, and is steeped in the corporate culture.
It is no longer enough to simply comply with legislation, but rather it is necessary to gain legitimacy in order to operate through consistent and sensible behavior.
Therefore, society contribution models, like those of company-driven foundations, encourage them to ally themselves with human rights and uphold responsible conduct, generating long-term value in a sustainable way. Furthermore, they encourage their employees to give the best of themselves in order to help others through their knowledge and through what motivates them.
On the other hand, a company offering its employees the chance to join volunteer projects, promotes talent retention, engagement and development of common interests.
In the words of the entrepreneur and philanthropist Stephan Schmidheiny, “There are no successful companies in failed societies, just like there are no successful societies with failed companies.”
Companies have the potential to transform society. They should take advantage of this opportunity.
See more: UNO 23
By: José Antonio Llorente Founding Partner and Chairman of LLORENTE & CUENCA
