Corporate Social Responsibility

The big Question is How?

Solution is 'Go Green'.

This is the mantra being preached presently in the class. I agree completely with the fundamental principle behind it. Sustainability has become such a big issue that it requires constant unfettered attention. Globally corporates are paying attention and so are MBA schools, where they view their students as tomorrow's global leaders.

At Lancaster (which got its new ranking of 27 in the world according to Financial Times yesterday), CSR is a major emphasis. There are many lectures talking about sustainability, corporate sustainability reporting, legal aspects, individual and corporate resposibility and many other issues. The basic theme behind these ideas is that tomorrow's leaders need to be aware and informed about the various issues that plague managers.

As I write about CSR, I chanced upon Harvard Business Review Oct 2008 edition that suggests Hippocratic Oath for Managers. It is reproduced below (click on the image to read)

I understand that the oath or the pledges are too simplistic, but they are worth a look. For the risk that managers take and the power they enjoy it is reasonable to assume that the risk generate the rewards and the power is used responsibly. 

The larger question in the context of CSR is how far is this sustainable and to what extent a corporation can go for it. My answer is simple. Companies need to implement CSR and make sure they implement not only in word but also in spirit. For example if customers need to be accounted for and asked for feedback about impact of company's action on them, then it is better to ask atleast 50% of your customers to get some representative data. It does not makes sense if the data is collected from just few customers to be compliant about the guidelines.

There are many such issues which can be highlighted and needs attention, but the most important one is to be ethical and believe one's conscience when working on. Money can be made and will be made, the cycle might be a bit longer.