These days, it’s more important than ever for companies to have some form of social impact. Whether that is by building a socially responsible company or by implementing social responsibility events, customers are paying attention to what companies are saying and doing to support their values.
And especially, what they are not saying and doing.
The younger generations in particular want to do business with organizations that are committed to making the world a better place.
But how does a company both deliver value to its shareholders and make a positive social impact at the same time? Is that even possible? What does it mean to be a socially impactful company?
Julian Love puts it quite succinctly. “A social impact company is a company who at their core, serves a social impact purpose, but also turns a profit. So it's part of their business model to have a positive social impact.”
As our guest on this building a socially responsible company video episode of CFO Weekly, Julian, Chief Business Officer of St. Hope has some great advice on how to do just that.