This video clip from the Toronto book launch of The 360º Corporation highlights the solutions for companies seeking to become more socially responsible.
Not knowing how business models create trade-offs
Organizations are not having enough conversations about their stakeholder trade-offs. For example, do delivery companies recognize the increased pollution and poor labour conditions that come with same-day delivery? Companies also need to examine who isn’t at the table when business decisions are made, and how these people can be invited to the conversation.
Starting with the business case
Beginning with a business case for diversity, inclusion, or sustainability gets in the way of progress. Business cases have not led to change over the last few decades because they limit companies to incremental solutions. Instead, Kaplan argued for rethinking trade-offs by targeting existing social and environmental problems first, and demonstrating the business case later on.
Treating corporate social responsibility as an “add-on”
Often, corporate social responsibility is done “off the side of someone’s desk”. Kaplan suggested that instead, corporate social responsibility be treated as an opportunity for business transformation. It can play a key role in how businesses function, put out new products and services, and innovate.
Giving up when a solution isn’t found
Innovating around trade-offs is difficult but not impossible, and not finding a solution right away cannot be used as an excuse not to act. As Kaplan explained, “Sometimes you have to start just by doing the right thing, and figuring out through experimentation along the way…you’re going to learn, and it’s going to get you somewhere.”
More about the book here!
