Another key theme in Dion Chang’s latest trend review, relates to what he terms the Empathetic Economy. It highlights the move from a more power hungry society to one that is more ethically bound. “People are determined to do things differently,” he says. There is much greater emphasis on authenticity and transparency and our collective value system is shifting. Chang notes that global sensitivity levels have risen, leading to increased collaboration, cooperation and caring.
While smaller companies may have an advantage here, consumers are less trusting of large corporates that don’t recognise the individual. Already the trend toward significant social investment is on the increase. In South Africa such activities are perhaps even more likely to be in the spotlight. However corporate social investment cannot be seen simply as a scorecard component. It is ‘an ethos that has to filter through a company’s structures’ in order to provide authentic benefits.
Looking at social investment holistically, CSI initiatives can provide real opportunities to strengthen the business. Smart partnering can provide a sound platform for value creation on both sides. In a McKinsey model, ‘time frame’ and the ‘nature of the benefits’ provide a framework for mapping potential outcomes. Read more »
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