It’s not new that businesses have wanted to deliver social value, but it’s always been something else, maybe something on the edge. Now what you’re looking at is businesses really thinking, “I have to deliver financial value. That’s not a mystery. That’s how I got the job. That’s why I’ve got the job: I know how to do that.”
But how do you overlay that concept with a lens that says, “And while you do that, are you actually working out how you deliver positive societal impact so that your business is not responsible for the externalities that regulators have to crowd around? Are you working it out so that your business will have a long-term sustainable, comfortable future, working in an ecosystem where you’re prepared to change the game for the rules of the future?” That’s the question on the table for any business leader today: how do you do that?
Author: Lucy Parker
Source: McKinsey Quarterly
Subject: Social Responsibility (ESG)
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