Week 8

Summary:

This week I learned what Corporate Social Responsibility (CSR) is and what falls under it:  sustainability, Triple Bottom Line, and B-Corps.  I also learned how to rethink capitalism by turning those for-profit companies into a company who practices CSR by driving corporate growth through social impact.

Response to a reading:

When reading The Broken “Buy One, Give One” Model:  3 Ways to Save Toms Shoes, I felt it was easier to believe that their charitable act of giving a free pair of shoes to those in need was indeed broken or flawed because of a documentary I had watched a few years ago.  Toms Shoes was actually mentioned in this documentary, Poverty, Inc.  One of the interviewees recognized the reasonings behind companies like Toms Shoes wanting to make a difference in the world of poverty.  She said, “I’m glad people want to help.  It comes from a good heart.  People give us food, they dig us wells, they bring us shoes, they encourage others to give.  The problem is, it does not work.”  After watching that documentary, hearing her quote, and reading the above article on Toms Shoes, I see the wisdom in making sure that donations are helpful for long term, sustainable economy.  There will always be emergency situations where sanitation or housing needs have to be addressed right away, but once time is on their hands, these donations have to be kept in check as they could possibly lead to hurting the economy.  If free shoes keep coming in, what do the shoemakers of say, Haiti, do?  They will eventually go out of business.  And what do those communities do when Toms Shoes stop giving free shoes?  Where will the people of Haiti go to for shoes if all of the shoemakers in Haiti have left?  This article and documentary made me stop and think about the organizations I donate money to.  I am now questioning past organizations.  And I believe that is a good thing.  I’m not being negative.  I’m looking out for the people that these organizations say they are helping.

https://www.povertyinc.org/about

Weekly prompt:  Why do you think CSR has become more popular in recent years?

The first thing that came to my mind was from some things I am learning from an advertising and social media class I am taking.  It has become very clear to me that most companies that are advertising on social media, are advertising specifically to the Millennials and Generation Z (Gen Z).  Millennials and Gen Z may have some differences but one thing they definitely have in common is their desire to do good.  They are both motivated by working for companies that does societal good.  And with their desire to have social impact, they want to do so outside of work as well which leads them to want to support or buy from companies who practice CSR.  I think that these for-profit companies who practice CSR have figured out that advertising to Millennials and Gen Z is one of the best ways to not only improve their brand awareness but getting the word out that their company is not all about the money.  It is about taking social responsibility in communities, economy, and/or the environment.  So, I think CSR has become more popular in recent years because companies who practice CSR are finding better ways to advertise that they are not just a for-profit company.  They are committed to providing social and environmental differences.  And Millennials and Gen Z are loving it by supporting those companies in working for them, buying their goods, and spreading the message on social media.