Editor’s letter; Common dangers “in this winter of our hardship”
The sobering oratory of newly elected President Obama helps set the tone for the start of this new year, one that will bring big challenges for companies trying to keep faith with their commitments to responsible and sustainable business.
As we finalise this edition and go to press, the presidential inauguration is in full swing, while bank shares go into freefall and more bail-outs are announced on both sides of the Atlantic.
Indeed the economic crisis very much formed the backdrop to Obama’s address. His response? A call for a “new era of responsibility”. Greed and irresponsibility has badly weakened the economy, he said. The question is not whether the market is a force for good or ill – “its power to generate wealth…. is unmatched”. But the current crisis reminds us that economic success depends on the “reach of our prosperity” – the need to extend opportunity “not out of charity… but as the surest route to the common good”.
Extending the reach of prosperity by expanding opportunity. That’s not a bad mission statement for what far-sighed companies should be doing with their community investment programmes. In this edition we report on companies doing just that, not out of charity but very much linked to the core business.
Pharmaceutical company Abbott addressing HIV/Aids, IBM adapting technology for the ageing population of Europe, Mastercard supporting financial education in new markets…. plenty of examples of intelligent engagement that expand opportunity and extend prosperity and serve the common good.
We also report growing concerns in the voluntary sector about the impact of recession on corporate partnerships – and more positively the results of a study we here at Corporate Citizenship undertook for ACEVO on how to make those partnerships more effective by focusing on developing leaders.
One thing these recessionary times will reveal is the truth or otherwise of the so-called business case for CSR. The ‘feel good, look good’ initiatives will undoubtedly wither. But will senior management keep faith with programmes that make long term business sense, or will short-term pressures overwhelm them?
We’re here at Briefing to keep you posted on what’s happening and why it matters. So do make sure you are signed up for our on-line content via the website where you can access additional material and invitations to occasional briefing events. In fact, we’re hosting a debate in London in February about the future of corporate responsibility.
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