A Quote by Michael Porter
Businesses must reconnect company success with social progress. Shared value is not social responsibility, philanthropy, or even sustainability, but a new way to achieve economic success. It is not on the margin of what companies do but at the center. We believe that it can give rise to the next major transformation of business thinking.
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My primary early interest was in marketing and my aim was to improve its theories, methods and tools. Early on I pressed companies to adopt a consumer orientation and to be in the value creation business. I didn't pay much attention to the social responsibilities of business until later. Now I am pressing companies to address the triple bottom line: people, the planet, and profits. I found that companies were too much into short term profit maximization and they needed to invest more in sustainability thinking.
Together with the social responsibility of businesses, there is also the social responsibility of consumers. Every person ought to have the awareness that 'purchasing is always a moral-and not simply an economic-act.
What are we seeking to achieve? We are seeking to optimize budget spending. I believe that even in such uneasy times we employ a very pragmatic approach towards economic and social issues. We do address major social problems and deliver on our promises to our people.
Business is the most powerful force in society. It has the highest potential for solving social problems. Once consumers saw examples of prosperous companies integrating social concerns into their business practices, they were emboldened to demand the same of other businesses. Businesses could no longer say it was impossible.
Collective insurance policies and social protections have given way to the forces of economic deregulation, the transformation of the welfare state into punitive workfare programs, the privatization of public goods and an appeal to individual accountability as a substitute for social responsibility.
Social enables word of mouth at an unprecedented scale. Its most powerful effect, through reviews and recommendations, is to put product quality and value for money as the key to success in commerce. Social brings a level of transparency that prevents marketers from advertising their way to success without underlying product quality.
Businesses who are members of Businesses for Social Responsibility or the Social Venture Network are internalizing costs on a voluntary basis and therefore raising their costs of doing business, but their competitors are not required to.
Turkey is going through an incredible economic, political and social transformation. What is most important is that Turkey has been the owner of this transformation. Ownership has been the key to success.
Often, there is no correlation between the success of a company's operations and the success of its stock over a few months or even a few years. In the long term, there is a 100 percent correlation between the success of the company and the success of its stock. This disparity is the key to making money; it pays to be patient, and to own successful companies.
To achieve major success in life - to achieve those things that are most important to you - you must assume 100% responsibility for your life. Nothing less will do.
Economic success without accountability and social inclusion is not sustainable, and new governments often must face tough choices in order to protect the poor and vulnerable.
We must prepare the ground for creativity. And if this also gives rise later to success in the economic sense, success in terms of Euros and Cents, this will by no means reduce my joy.
I admire companies that have a purpose, passion, and performance. I am a fan of Unilever under its CEO Paul Polman, not only for the company's insights into women and men when they buy beauty products or skin products (the DOVE woman, the AXE man), but also as a company seeking to achieve both growth and practicing social responsibility.
I dislike the phrase 'social media.' 'Social media' is merely a way to describe new tools in an old and narrow paradigm where we measure success by how many people are reached.
I used to be opposed to the idea of social entrepreneurship. I said, you know, let business be business, and philanthropy be philanthropy. Keep the two separate, don't mix it up, and this is what I did, and I did that rather successfully, but I now recognize that actually you do need to mix it up and I think there is room for social entrepreneurship.
Beneath the surface, unnoticed by many, an even deeper force was at work—the rise of creativity as a fundamental economic driver, and the rise of a new social class, the Creative Class.
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