Advertising
Advertising

How to Do Good AND Make a Profit

How to Do Good AND Make a Profit

How to do Good AND Make a Profit

    With the world economic and business outlook still so uncertain, a key question is just how the businesses world can continue to do good as well as maintain their bottom line.

    Over the last few years, Corporate Social Responsibility (CSR) has become such a buzz word for business people with companies sprouting all sorts of CSR initiatives, but are companies really embracing CSR because they believe in it or are they in it for entirely selfish reasons?

    Are they really acting out of some kind of moral duty or is the reality still that they only care about the bottom line?

    In simpler terms, CSR means “doing the right thing”. A company’s commitment to CSR therefore implies ethical conduct and a moral sense of what is right and what is wrong, and it should aim to eliminate or minimise any negative impact of its business activities.

    savetheworld1

      With the unscrupulous behaviour of the major banks over the last few years which has led to the current worldwide economic downturn, never before has it  been so pertinent that business people are seen to be doing the right thing.

      Even President Obama has been urging businesses to do the right thing and become socially responsible. His approach and vision is refreshing from all that has gone before us for so long.

      So the business person today faces a major dilemma. Whereas on the one hand, his or her company has to minimise the negative impact of its business activities on the environment, employees, suppliers, customers and the wider community, on the other hand it is only by maximising the company’s return can all these stakeholder groups be served adequately.

      Advertising

      What is Personal Social Responsibility?

      The pre-requisite for understanding and accepting the need for CSR and subsequently implementing it successfully is the concept of Personal Social Responsibility (PSR).

      PSR is all about doing to others what you would like others do to you. It is about recognising how your behaviour affects others, and holding yourself accountable for your actions. It is about being in integrity and doing the right thing for the right moral reasons.
      The key question to ask is how can we as individuals and businesses improve the world?

      Ideally a PSR aware person will:-

      1. Always endeavour to have a positive effect on others.
      2. Have a mind set to contribute.
      3. Refrain from causing negativity in his environment e.g. by throwing litter on the ground, or by gossiping.
      4. His social and economic activities will have a positive or neutral impact on the environment.

      However the real challenge the world faces today is for people at the top of the business world to do the “right” thing for themselves, their children and the world.

      Increasingly more and more companies must wake up to their responsibilities to the environment, the larger community and the global implications of their activities.

      Create your own PSR vision and journey

      Clearly the business debate is no longer about whether a company should make a substantial commitment to CSR but just how? Business people really do have to get their CSR act together and actually start doing stuff.

      Advertising

      So where do you begin? Start by firstly becoming aware of the concept of PSR. By coming from a place of being socially responsible for all your actions, you will immediately begin to think differently. And that will form a solid foundation for understanding and developing CSR in your business.

      Remember that PSR is more than just merely recycling paper or giving out money to your chosen charity. It is all about taking a firm stand and making a commitment towards giving back to society and at the same time ensuring the long term viability and profitability of your business.

      To get you started, my PSR vision is that as individuals we always do the best for us and the people in our lives, and at the same time our businesses endeavour to do the best for the world at large.

      Reach your own PSR vision by spending some time and answering the following questions. These questions will help you to develop your own understanding of PSR and CSR and ultimately create a plan of action that suits you and your business:-

      1. How will the world be a better place because you have lived?

      2. How will the world and future generations benefit from your company’s activities?

      3. What legacy are you leaving behind through your work?

      4. What would you like to be said about you after you die? And about your work?

      5. If you only had six months to live, how would you spend some of that time making a difference in the world? In which area would you create the most urgency and why?

      6. What does Corporate Social Responsibility mean to you? What does it mean to your company / business?

      7. Do you believe that you and your business have a moral duty to respond to world problems? Why? What’s the ideal response to the various problems?

      8. Can companies be socially responsible and be profitable at the same time? What level of profits is acceptable to you and why?

      9. What do you think about this statement – “Responsible business should be about profit making, not profiteering?” Why?

      10. What positive lessons can you learn from businesses that you think have a social conscience? What do you really like about the ethics of those businesses whose ethics you admire? What can you learn from them to apply in your own business?

      11. If your children asked you if your business was ethical in all its activities, would you be able to look them in the eye and honestly say YES?! If NOT, what will it take for you to answer YES?

      12. What legacy is your business creating for the children of tomorrow? Socially? Ethically? Environmentally?

      13. What do you NOT want your business to continue doing?

      14. If there was one thing you could change about your business and its ethics policy, what would it be? When will you make this change?

      15. What is really stopping you and your business from being more socially responsible? What will you do next?

      16. Having been on this short journey of discovering Personal Social Responsibility, how will you now live your life differently?

      17. In what ways will you apply Personal Social Responsibility in your life from now on?

      So begin today on your journey through this exciting, challenging and ultimately fulfilling world of business ethics, social responsibility and sustainability.

      Make your life and your actions count from today.

      Make it happen! Good luck and enjoy your journey.

      Come from a place of being socially responsible – you owe it to our future generations. ~ Arvind Devalia

      More by this author

      29 Ways to Carry Out Random Acts of Kindness Every Day How to Do Good AND Make a Profit 9/11 Anniversary: Time to Bring Peace into Your Life Celebrate Valentine’s Day with your Lover every Day of the Year! How to Enjoy Life as a Single Person on Valentine’s Day!

      Trending in Featured

      1The Importance of Reminders (And How to Make a Reminder That Works) 240 Top Productivity Apps for iPhone (2018 Updated) 3How to Overcome Procrastination and Start Doing What Matters 4Is Procrastination Bad? The Truth About Procrastination Revealed 5The Gentle Art of Saying No

      Read Next

      Advertising
      Advertising

      Last Updated on August 16, 2018

      The Importance of Reminders (And How to Make a Reminder That Works)

      The Importance of Reminders (And How to Make a Reminder That Works)

      No matter how well you set up your todo list and calendar, you aren’t going to get things done unless you have a reliable way of reminding yourself to actually do them.

      Anyone who’s spent an hour writing up the perfect grocery list only to realize at the store that they forgot to bring the list understands the importance of reminders.

      Reminders of some sort or another are what turn a collection of paper goods or web services into what David Allen calls a “trusted system”.

      A lot of people resist getting better organized. No matter what kind of chaotic mess, their lives are on a day-to-day basis because they know themselves well enough to know that there’s after all that work they’ll probably forget to take their lists with them when it matters most.

      Fortunately, there are ways to make sure we remember to check our lists — and to remember to do the things we need to do, whether they’re on a list or not.

      In most cases, we need a lot of pushing at first, for example by making a reminder, but eventually we build up enough momentum that doing what needs doing becomes a habit — not an exception.

      Advertising

      The power of habit

      A habit is any act we engage in automatically without thinking about it.

      For example, when you brush your teeth, you don’t have to think about every single step from start to finish; once you stagger up to the sink, habit takes over (and, really, habit got you to the sink in the first place) and you find yourself putting toothpaste on your toothbrush, putting the toothbrush in your mouth (and never your ear!), spitting, rinsing, and so on without any conscious effort at all.

      This is a good thing because if you’re anything like me, you’re not even capable of conscious thought when you’re brushing your teeth.

      The good news is you already have a whole set of productivity habits you’ve built up over the course of your life. The bad news is, a lot of them aren’t very good habits.

      That quick game Frogger to “loosen you up” before you get working, that always ends up being six hours of Frogger –– that’s a habit. And as you know, habits like that can be hard to break — which is one of the reasons why habits are so important in the first place.

      Once you’ve replaced an unproductive habit with a more productive one, the new habit will be just as hard to break as the old one was. Getting there, though, can be a chore!

      Advertising

      The old saw about anything you do for 21 days becoming a habit has been pretty much discredited, but there is a kernel of truth there — anything you do long enough becomes an ingrained behavior, a habit. Some people pick up habits quickly, others over a longer time span, but eventually, the behaviors become automatic.

      Building productive habits, then, is a matter of repeating a desired behavior over a long enough period of time that you start doing it without thinking.

      But how do you remember to do that? And what about the things that don’t need to be habits — the one-off events, like taking your paycheck stubs to your mortgage banker or making a particular phone call?

      The trick to reminding yourself often enough for something to become a habit, or just that one time that you need to do something, is to interrupt yourself in some way in a way that triggers the desired behavior.

      The wonderful thing about triggers (reminders)

      A trigger is anything that you put “in your way” to remind you to do something. The best triggers are related in some way to the behavior you want to produce.

      For instance, if you want to remember to take something to work that you wouldn’t normally take, you might place it in front of the door so you have to pick it up to get out of your house.

      Advertising

      But anything that catches your attention and reminds you to do something can be a trigger. An alarm clock or kitchen timer is a perfect example — when the bell rings, you know to wake up or take the quiche out of the oven. (Hopefully you remember which trigger goes with which behavior!)

      If you want to instill a habit, the thing to do is to place a trigger in your path to remind you to do whatever it is you’re trying to make into a habit — and keep it there until you realize that you’ve already done the thing it’s supposed to remind you of.

      For instance, a post-it saying “count your calories” placed on the refrigerator door (or maybe on your favorite sugary snack itself)  can help you remember that you’re supposed to be cutting back — until one day you realize that you don’t need to be reminded anymore.

      These triggers all require a lot of forethought, though — you have to remember that you need to remember something in the first place.

      For a lot of tasks, the best reminder is one that’s completely automated — you set it up and then forget about it, trusting the trigger to pop up when you need it.

      How to make a reminder works for you

      Computers and ubiquity of mobile Internet-connected devices make it possible to set up automatic triggers for just about anything.

      Advertising

      Desktop software like Outlook will pop up reminders on your desktop screen, and most online services go an extra step and send reminders via email or SMS text message — just the thing to keep you on track. Sandy, for example, just does automatic reminders.

      Automated reminders can help you build habits — but it can also help you remember things that are too important to be trusted even to habit. Diabetics who need to take their insulin, HIV patients whose medication must be taken at an exact time in a precise order, phone calls that have to be made exactly on time, and other crucial events require triggers even when the habit is already in place.

      My advice is to set reminders for just about everything — have them sent to your mobile phone in some way (either through a built-in calendar or an online service that sends updates) so you never have to think about it — and never have to worry about forgetting.

      Your weekly review is a good time to enter new reminders for the coming weeks or months. I simply don’t want to think about what I’m supposed to be doing; I want to be reminded so I can think just about actually doing it.

      I tend to use my calendar for reminders, mostly, though I do like Sandy quite a bit.

      Featured photo credit: Unsplash via unsplash.com

      Read Next