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https://theconversation.com/go-woke-go-broke-is-no-longer-true-socially-aware-capitalism-is-the-future-of-corporate-responsibility-261091>
"The phrase “go woke, go broke” is often used by critics of corporate social
responsibility. It implies that companies face a binary choice: embrace
progressive values or pursue profit.
But this dichotomy between “wokeness” and capitalism is both simplistic and
increasingly out of step with corporate reality.
Many companies are learning to navigate a middle path. They are embedding
social, environmental and ethical considerations into their business strategies
– not in spite of profit, but because it contributes to long-term value
creation.
Understanding this shift – and the backlash to it – is fundamental to grasping
modern corporate responsibility.
Our research examines the growing tension between evolving “woke” agendas
within firms and the enduring demands of shareholder value, known as
“shareholder revanchism”.
We explore this dynamic using academic Archie Carroll’s
Pyramid of Corporate
Social Responsibility, where economic responsibility forms the foundation for
higher legal, ethical and philanthropic obligations.
Ultimately, we argue for a reassessment of the prevailing emphasis on
shareholder profit and short-termism. Directors should adopt a more balanced
approach when pursuing profit and discharging their duties."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
