Can you Do Well by Doing Good? The Data Say Yes

What motivates people to do good? The answer is complicated and varies depending on the person. Yet, there are some factors that seem to drive most of us: fear of punishment and reward, altruism or self-interest, duty or obligation. There seems to be a clear link between positive action and happier life outcomes – but it’s not always as straightforward as one might expect.

The “do good do well quote” is a question that many people ask. The answer to the question, according to data, is yes.

As the poem states, no man (or business) is an island. You rely on the support of your community to fulfill your goal as an entrepreneur, but what are you giving back? In 2012, good corporate citizenship is a necessity for every company. You can do well by doing good by investing time, money, product, and skill. Companies who include corporate citizenship into their business plans and make it a part of their DNA receive a return on their investment, according to the statistics.

The return on IBM’s corporate citizenship initiatives is an astounding 3:1. That’s a $3 profit on every $1 invested. The business has integrated its citizenship initiatives into the way it operates every day, all around the globe, by carefully monitoring five sources (talent, investments, technological innovation, brand, and new market entrance).

According to a Harvard Business School study, businesses with strong sustainability do better over time. Rather of seeing corporate citizenship as a short-term marketing campaign, these businesses made long-term investments in their initiatives.

Corporate citizenship investments should be included into your company strategy, according to experts, and your actions should be reviewed on a regular basis to ensure you’re on track.

Palo Alto Software CEO Sabrina Parsons states,

“Being a decent corporate citizen has paid off handsomely for Palo Alto Software. We provide time, resources, and free products to universities, nonprofits, and a variety of businesses. Palo Alto Software is committed to assisting small companies and entrepreneurs in Oregon, as well as throughout the globe, where we provide free information and resources and sell our products.

Corporate citizenship is ingrained in our DNA, and it is one of the reasons we are able to bring a genuine enthusiasm for small business and entrepreneurship to Palo Alto Software.”

How do you determine where to concentrate as an entrepreneur or small company owner? Some pointers:

Take a look at your company’s mission statement. What has been your declared purpose for being? There’s a good chance you’ll discover some clues in there about the kind of activities that make the most sense for your business.

Take a look at your fundamental values. What do you value as a business in addition to your mission statement? Zappos, a well-known firm for its corporate culture, has a strong set of principles that guide business choices. (One of our favorites is “be adventurous, innovative, and open-minded.”)

Inquire of your workers. Employee happiness may be greatly influenced by corporate citizenship initiatives, so why not ask them how the business should spend its time, energy, and money in this area?

Build corporate citizenship investments into your business strategy, and evaluate what you’re doing on a regular basis to ensure you’re on track, whether your efforts concentrate on charity, community engagement, or social innovation.

What are you doing to make your business a good corporate citizen? How do you keep track of your achievements? Here’s where you can share your thoughts with us.

“Why do you think sustainability in business enterprise is important?” “The data say yes.” Reference: why do you think sustainability in business enterprise is important.

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