Does Being An "Ethical" Corporation Pay? MIT Study Says YES.
- added June 30, 2008
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For corporations, social responsibility has become a big business. Companies spend billions of dollars doing good works—everything from boosting diversity in their ranks to developing eco-friendly technology—and then trumpeting those efforts to the public.
But does it pay off?
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This study is interesting in light of recent conversations on Current on the topic of corporate responsibility vs. greed, CEO vs. worker pay, etc. My contention all along has been that corporations, bound by their duty to provide shareholders with maximum return on their investments, will only act responsibly when consumers start to reward them when they do and punish them when they don't.
So let this serve as another reminder to keep the pressure on EACH OTHER -- as consumers -- to demand more of the companies that serve us, and then watch as the corporations eventually follow suit.
But does it pay off?
(article continues)
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
This study is interesting in light of recent conversations on Current on the topic of corporate responsibility vs. greed, CEO vs. worker pay, etc. My contention all along has been that corporations, bound by their duty to provide shareholders with maximum return on their investments, will only act responsibly when consumers start to reward them when they do and punish them when they don't.
So let this serve as another reminder to keep the pressure on EACH OTHER -- as consumers -- to demand more of the companies that serve us, and then watch as the corporations eventually follow suit.
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