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Many corporations are seeking to regain the trust of shareholders through a demonstrated commitment to corporate responsibility. According to Stephen Hahn-Griffiths, chief reputation officer of the Reputation Institute, “It’s not necessarily that companies have done anything dramatically different, but they’re doing a better job of providing reasons to believe that they have good intentions,” he said. “Companies have chosen to pick one thing that matters, rather than trying to address all things, and that has caused an increase in corporate responsibility scores.”
The Forbes article explains that “In today’s world, corporate responsibility is as essential to business success as financial performance, and organizations that have adopted a more thoughtful approach to corporate responsibility have undoubtedly positioned themselves to win hearts and minds in the court of public opinion.” “That is the strategic opportunity for any given business today,” Hahn-Griffiths says. “Explain to the world what you’re doing to have a positive impact on society in a way that’s unique to your organization—that can make a big difference.”
Incorporating what you learned in this Unit, do you think it is better for a company, from a business ethics standpoing, to address multiple methods of engaging in corporate responsibility, or focus on just one thing?
Please respond substantively to least two of your classmates, weighing in regarding your thoughts about what they have expressed.
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