Entrepreneur And Their Social Responsibility
Entrepreneur and their Social Responsibility
Is it the cause or the effect that matters?
In article thirty five years ago Milton Friedman wrote that The Social Responsibility of Business is to Increase Profits. Clearly he was focused on the result which many entrepreneurs who are building the business all over the world may not entirely agree with that statement.
During the past twenty years businesses from Starbucks McDonalds and FedEx have taken the high road and realized the business is important but having a conscience and understanding that people of every walk of life needs assistance in many ways.
The leaders have to accountable to stakeholders employees investors vendors communities and the environment with understanding that value they create and delivery on daytoday basis is reflective on the performance and results.
Therefore the cause of having a social understanding towards donate time employees vendors or providing help through philanthropy is of high importance. Bill Gates and Warren Buffet have led this effort over the years and many lives have been changed. Dont you think there many more people like them who wish to do the same?
In an interesting remark John Mackey made cofounder of Whole food markets It is a dynamic process that evolves with competitive marketplace. No stakeholder remains satisfied for long. It is the function of the company leadership to develop solutions that continually work for the common good. He goes to say that We first announced that we would donate 5 percent of the companys net profit to philanthropy when we drafted our mission statement back in 1985. Our policy has therefore been in place for 20 years and it predates IPO by seven years. All seven of the private investors at the time we created the policy voted for it when they served on board of directors.
As the above statements illustrate is the cause or the effect will be debated for years.
For the everyday entrepreneur going through their journey of success and building their business to produce the desired results profit and ongoing value. They may chose to between give some of their time throughout the year as there way of giving back perhaps volunteering participating in corporate events contributing articles or they may donate money through church or relevant causes that important to them. If businesses do not take any measures to have social responsibility then investors will by choosing ethical fund and customers will judge them by their corporate citizenship.
In my years of volunteering and expanding business in Toronto I have seen strides forward by entrepreneurs and businesses to do their part social pressure will bring change and only then will it bring on responsible and effective programs.
Making a difference is the effect that will always be choice made by people for the people therefore social ramifications to apply it to make a significant mark in time and history will be measured by having conscious and respect to everyone that entrepreneurs deal with in a business enterprise.
About the writer:nbsp;nbsp;Jim Pagiamtzis is the owner and founder of Payamgis Enterprises. He works with consultants entrepreneurs and corporate professionals on effective communication. He will teach you how to get to the next level in your business through prospecting effective presentationskills and customer service. Jim has written articles for Empower.ca and has been quoted by Empower.ca and Happy Worker.ca.He can be reached at payamgisgmail.com or visit his website at www.jimpagiamtzis.blogspot.com
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