The global challenge of doing business openly
Congratulations to All Good Organics, the first New Zealand company to make the prestigious Ethisphere Institute’s World’s Most Ethical (WME) companies list. All Good may be tiny but this ranking puts them in some great company – one of just 145 companies, chosen from more than 5000 entries. Judge for yourself. In the light of this win, interesting to read Raz Godelnik’s take on the difference that CSR actually makes for companies in this post on TriplePundit: A MIT Sloan Management Review and BCG survey showed 40% of executives polled believed the greatest benefit to an organisation in addressing sustainability was “improved brand reputation”. Godelnik goes on to cite evidence that CSR initiatives help companies retain stock value when facing corporate governance scandals and product recalls, and that firms viewed as having weak CSR suffered stock declines twice the size of firms viewed as having strong CSR after riots surrounding 1999 WTO meetings in Seattle. While consumers might not be willing to pay higher prices for greener products, he says, they will more likely purchase …