Is their room for global corporations to make the world a better place and actually have a double bottom line? I would like to suggest an answer but ultimately this is an idea that marketplace will have to validate. Lets back up for a minute and dive deeper into the question.
If we operate under the assumption that the singular outcome for a global corporation such as Amazon is to deliver value to the shareholders, is their room for a double bottom line? That is, can Amazon deliver value to its share holders while at the same time contributing to a social cause or alleviate an injustice. I strongly believe that this is possible, however the message has to start at the top. If we look at a company like Amazon, its CEO Jeff Bezos would have to go on record and state that his intended outcome in addition to shareholder value is a designated social cause. Moving forward Amazon’s shareholders would be able to decide if the monetarily immeasurable value of the intended social cause is important and brings with it an intangible benefit. Amazon shareholders would have to be willing to hold the stock knowing that the goal of a double bottom line may have measurable costs.
With all this said I think that Global Corporations have to at least consider what they can gain by supporting socially appropriate causes. More importantly as consumers we must demand that corporations we interact with not only produce profits but they improve people’s lives. So for all of the aspiring entrepreneurs out there your job is to create change for society while maintaining your fiduciary responsibility to achieve profitability.
Please let me know your thoughts about this. Can we expect corporations to act for the common good when it comes to social causes? Only the market will tell us. In the meantime please take one small step toward making the world a better place before we meet again.
Until next time, be good and cultivate your community of friends.