Socially Responsible Business + COVID = Resiliency

Background: In August 2019 the Business Roundtable announced a change in how business should think of itself in the US

What shift occurred in business? A shift in corporate values to evolve beyond financial performance to be more inclusive of broader, pressing societal interests… a sense of community in its employees and the communities in which it operates

What are examples of how companies have adopted this new model?

• The 5-bottom-line business model that supports and sustains our people, planet, community, business, and brands
• A focus on diversity in the boardroom and ESG (environmental, social, governance) initiatives
• Offering employees 5 days that they could use to volunteer and benefit the community
• Companies adopting certain charities 
• Philosophical shift that “Management and the board have an obligation to be stewards of what is in the best interest of people and society as well as the environment.”

Is this change in corporate values to stay? ” I believe this is the new norm, as it should be.”

San Francisco Business Journal | How the new definition of corporate purpose is reshaping today’s businesses – an executive discussion