By Michael E. Porter & George Serafeim & Mark Kramer
Summary:
Despite countless studies, there has never been conclusive evidence that socially responsible screens deliver alpha. A better model exists, argue Harvard Business School luminaries Michael Porter, George Serafeim, and Mark Kramer.
Article
Despite countless studies, there has never been conclusive evidence that socially responsible screens deliver alpha. A better model exists, argue Harvard Business School luminaries Michael Porter, George Serafeim, and Mark Kramer.
A version of this blog post was published in Spanish, in the financial newspaper ‘Portafolio’, as part of the special issue on Empresas INspiradoras, which recognizes companies adopting a shared value approach. For a second year in a row, FSG worked closely with Colombian National Industry Association (ANDI) to develop a set of selection criteria that were appropriate for Colombia’s business and socio-political context. These included: the scale of measurable social impact of a shared value strategy, its contribution to the company’s profitability and competitive advantage, and the degree to which the strategy supports the inclusion of historically underserved or marginalized groups.
Chocó is one of Colombia’s most impoverished regions, with 48% of people living in poverty. It also has the highest unemployment rate in the country, at 17%. In 2013, Telefónica Moister set up a call center in the city of Quibdó, Chocó’s capital. Beyond the potential for impact, Telefónica Movistar saw a strong business opportunity in this new venture. The investment paid off – the Quibdó call center employs 150 people, and has generated significant cost savings for the company as a result of having staff turnover rates 50% lower than other call centers across the country. With the Quibdó call center, Telefónica Movistar is adopting a shared value approach. It is increasing its profitability by solving a social problem.
Blog
A version of this blog post was published in Spanish, in the financial newspaper ‘Portafolio’, as part of the special issue on Empresas INspiradoras, which recognizes companies adopting a shared value approach. For a second year in a row, FSG worked closely with Colombian National Industry Association (ANDI) to develop a set of selection criteria that were appropriate for Colombia’s business and socio-political context. These included: the scale of measurable social impact of a shared value strategy, its contribution to the company’s profitability and competitive advantage, and the degree to which the strategy supports the inclusion of historically underserved or marginalized groups.
Chocó is one of Colombia’s most impoverished regions, with 48% of people living in poverty. It also has the highest unemployment rate in the country, at 17%. In 2013, Telefónica Moister set up a call center in the city of Quibdó, Chocó’s capital. Beyond the potential for impact, Telefónica Movistar saw a strong business opportunity in this new venture. The investment paid off – the Quibdó call center employs 150 people, and has generated significant cost savings for the company as a result of having staff turnover rates 50% lower than other call centers across the country. With the Quibdó call center, Telefónica Movistar is adopting a shared value approach. It is increasing its profitability by solving a social problem.
Investment Will Further Benevity’s Unmatched Reach and Innovation in Burgeoning Corporate Purpose Technology Sector
Press Release
CALGARY, Alberta, October 22, 2019 /3BL Media/– Benevity, Inc., the global leader in corporate social responsibility (CSR) and employee engagement software, today announced that the company has raised $40M in Series C Funding from General Atlantic and JMI Equity.
“Chance favours only the prepared mind.” This quote from the great French scientist Louis Pasteur is the motto of SH Chan, Managing Director - China of CLP. Opportunities do not always come along, he says, but people must be ready to seize them when they do.
Paul Rice recognized for nonprofit’s work to empower farmers and workers for more than 20 years
Press Release
OAKLAND, Calif., October 15, 2019 /3BL Media/ – Fair Trade USA®, the leading third-party certifier of fair trade products in North America, is proud to announce that its founder and CEO Paul Rice was honored with the Business Leader of the Year Award at Ethical Corporation’s 10thResponsible Business Awards 2019 – the world’s leading celebration of responsible business excellence.
This Pro Bono Week, Taproot Foundation is spotlighting nonprofits, business professionals, and companies who are playing key roles in bringing the impact of pro bono to life in communities around the globe.
Staying cyber safe and keeping information secure at work and at home
Article
October is Cybersecurity Awareness Month, and Tetra Tech is proud to be a cybersecurity champion and support this important online safety and education initiative. The cybersecurity and digital privacy of our employees and customers is vital to our operations. We invite you to #BeCyberSmart today and every day by joining us throughout October as we share proactive ways to stay safe online to protect yourself, your business, and your family.
GAITHERSBURG, Md., Septembeer 26, 2019 /3BL Media/– Sodexo, a food services and facilities management company committed to improving Quality of Life, announced today that it has maintained its ranking as the top-rated company in its sector by the Dow Jones Sustainability Index (DJSI) for the 15th consecutive year.
Small business owners in Austin can now apply to join eBay’s Retail Revival program.
Blog
This fall, eBay is expanding its Retail Revival program to the Texas capital. Applications are now open for Austin small businesses to join Retail Revival, an innovative program designed to equip local retailers with the skills and training needed to thrive in our global marketplace.
Since the Arab spring, in the face of high unemployment, 100,000 young people have left Tunisia. However, a growing number of startups and a culture of entrepreneurialism points to a brighter future for the country’s youth.
Article
Since the Arab spring, in the face of high unemployment, 100,000 young people have left Tunisia. However, a growing number of startups and a culture of entrepreneurialism points to a brighter future for the country’s youth.
