March 18, 2015Doug Hadden
Doug Hadden, VP Products
CSR has become an important enterprise consideration. Some firms, like FreeBalance, have sustainability and social responsibility as core to the business model. We’ll see more innovation in this space in 2015 but not universal as businesses take on “wicked problems.” (In our case, it’s about affordable financial systems for government that enables country growth, reduces corruption and improves public sector outcomes.)
- Business takes on more wicked problems from large companies to focused for-profit social enterprises. The focus on innovation brings new solutions and business models – away from simple product substitutes. Socents think big in 2015
- It’s the beginning of the end for superficial CSR and greenwashing. Companies can no longer hide behind publicity. And, good CSR requires stakeholder engagement.
- The year that business acknowledges climate change, but does little about it. Most businesses operate on the notion that CSR is a cost centre and that quarterly numbers need to be achieved. Many are predicting that businesses will acknowledge that climate change exists. Sustainability is a long-term problem for many businesses, so it is likely to see business behaviour change where climate affects business or where there is strong government regulation.
- Corporate social responsibility becomes integral to management. Businesses recognize the good CSR generates happy employees, customer loyalty and reduced costs.