Firms Urged to Fuse Corporate and Social Interests

Corporations need to do a better job building social change into their business strategies in ways that benefit both their business and society, says a new report by Accenture and the Committee Encouraging Corporate Philanthropy (CECP). Using a strategy known as "sustainable value creation," companies should develop their philanthropy with the same approach they use to developing their business, says the report. That will require finding "new, scalable sources of competitive advantage that generate measureable profit and community benefit," the report maintains, adding that "a business at its best is a company that has overcome traditional strategic and operational divisions between advancing the performance of the enterprise and promoting the well-being of citizens and communities." (posted 07/05/2011)