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Strategically Speaking June 2015: How Can Companies Do More Good for Society and Turn a Profit?

In this series, Palladium asks expert strategy practitioners to share their experiences and opinions. We asked:

Corporate Social Responsibility (CSR) has been around for some time, but it is framed as an expense – a cost of being a good corporate citizen and not as a profit-making channel. In contrast, concepts such as Porter and Kramer’s Shared Value model maintain that delivering financial and other sustainable benefits to local communities can actually help deliver positive financial outcomes for
the organization.

Many stakeholder groups, in particular younger generations, are pressuring organizations to consider societal impact alongside financial concerns. As commercial and social value commingles, how will organizations change how they do business? How must preexisting business frameworks and models adapt – or do we need to create new ones?