What Good is Good?
brand-as-business bit: “Do well by doing good” has become the ultimate rallying cry for corporate social responsibility (CSR) – and case studies from Walmart to Nike to Timberland prove it is possible to benefit society and the bottomline. What’s more, CSR programs can make companies more innovative:
According to research featured in April’s Harvard Business Review, “CSR engagement broadens a company’s access to outside knowledge, market preferences, and new technologies.” And that in turn helps firms come up with dramatic innovations. Out of 128 firms studied, companies in the top third in terms of CSR activities brought out, on average, 47 new products a year, while companies in the bottom third brought out only 12.
Glad to see further confirmation of the integral link between values and business growth.