We are witnessing a transitional moment – akin to the transition from analog to digital, or the realization that globalization is a big deal. Companies are beginning to realize that paying attention to the longer term, to the perceptions of their company, and to the social consequences of their products is good business.
This realization is arriving not a moment too soon. The world needs to think about the long-term, consider social context, and incorporate sustainability into business. Together we can build a more inclusive, prosperous society and avoid the catastrophic impacts we are experiencing as a result of COVID-19.
How can companies bridge the gap between their own apparent self-interest and the broader needs of society?
The fundamental question around sustainable business remains how companies can bridge the gap between their own apparent self-interest and the broader needs of society. If a company decides to do the right thing, won’t its competitors take advantage? It’s hard work to run a firm and consistently make payroll, much less save the world. We can’t expect managers to focus primarily on anything other than building a thriving, profitable enterprise.
That said, there is growing recognition that over the long-term, the interests of companies and the interests of society are more aligned than many people once thought. In some industries, socially and environmentally responsible firms are as profitable, if not more profitable than their conventional rivals. Despite shareholders' concern for short-term profits, there is evidence to suggest that a focus on the long-term pays off.
At Mission19, executives of multiple companies have pooled their resources, funds, and efforts to address the health and economic impact COVID-19 has unleashed. We welcome you to join us in the fight against this pandemic. Please feel free to fill out the form, and we will reach out to you with ways you and your corporation can participate and join forces with Mission 19.