W08 Reflection

This week was about Corporate Social Responsibility (CSR). CSR is one outlet of social innovation which involves the philanthropic efforts of for profit corporations. Companies typically fall into one of four archetypes when it come so social responsibility: the Shareholder Maximizer, which emphasizes risk mitigation and increasing shareholder value, the Corporate Contributor, who focus on stakeholder relationships, the Impact Integrator, who strategize their social impact across business units and throughout the corporation, and the Social Innovator, for whom social impact of vital and central to their over all business strategy. All of these archetypes can see increased value in several ways, including new market opportunities, improved regulatory relationships, drawing talent, increased stakeholder satisfaction,  and improved supply chains. 

I was very interested in the information about B Corps. It was gratifying to know that there are companies out there for whom their responsibility is at least as important as their bottom line. (This is known as the Triple Bottom Line, where people, planet, and prosperity are all factors in how a company measures their success.) I found myself wanting to look up and support those companies who have earned a B Corp rating. I was pleased to know that some companies that I do support are listed as B Corp certified, and it was interesting to learn more about them. 

• Why do you think CSR has become more popular in recent years?

I think it has become more popular recently because consumers who value social and environmental responsibility are increasingly driving the market. Consumers my age and younger, are bringing our purchasing power to support companies who hold the same values that we do. That is, care for the environment, and the people in it. Our dollars are changing the face of capitalism for the better, and I am here for it.