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Thursday, November 8, 2012

Embracing Corporate Social Responsibility

By: Law Offices of Peter J. Lamont

Hurricane Sandy brought out the worst in nature, but recovering from the devastation in the aftermath has brought out the best in people.  Volunteers and aid are pouring in from all areas as those who were more fortunate look to help those currently in need.  Companies are joining in as well.  Many big names such as Disney are donating funds to ease the pain caused by last week's storm.
Actions such as these speak volumes about a company and its dedication to the community.  The objective of business is naturally to make a profit, but the truly great ones understand the power they possess and use that in a positive manner.  A focus should be placed outside of the revenue stream as well.

A popular way of determining success is known as the triple bottom line.  The idea behind this method is to account for profitability and financial prosperity along with contributions being made to the community.  A healthy triple bottom line could be high profit margins while sponsoring a youth sports team and purchasing carbon offsets.
America can use more organizations that are focused on their triple bottom lines right now.  If the health of its environment and its citizens is to remain well, it is vital that companies of all sizes embrace corporate social responsibility.
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