Balancing Social Responsibility
I Want To Make Money
Although “capitalism” has become a swear word in some circles, it’s naive to ignore it as a motivation. We all have to make money to provide the necessities and luxuries of life. There is a difference between capitalism and greed.
Many businesses that have built themselves up as profit entities want to divert some of those profits to socially responsible programs. Although some may view it as a tax dodge or a PR move, a lot of positive effects have come out of programs such as the Bill & Melinda Gates Foundation or the Ronald McDonald House.
The first step is to consult with your accounting services firm to see where the profits are. Even if you run on a thin margin, you can still find ways to help people. Organizations such as “1% For The Planet” encourage their members to donate 1% of their revenues to environmental organizations. If that’s too much, something as simple as removing a few light bulbs or implementing carpool and work-from-home programs to save fuel can make a huge difference.
I Want To Help People
It used to be that forming a helpful organization meant creating a non-profit foundation. Recently there has been a huge surge in a movement called “social entrepreneurship”. People form for-profit companies that exist to divert their profits to socially relevant causes. Newman’s Own is an example most people are familiar with. Paul Newman’s grinning face appears on products from spaghetti sauce to lemonade and all profits from these products go to charitable purposes.
Social entrepreneurs understand that to help people they have to make profits. Many work with outsourced accounting services to keep a close eye on the company’s financials to ensure that the business is run as efficiently as possible. They can provide positive products and services in their own right plus make significant contributions to charitable organizations.