Why does the company have to be social?
- October 29, 2019
Making money is no longer objective enough to create a company. It also needs to have a positive impact on society. Network conversations makes sure that this is the case. And already corporations are starting to emerge with an ambitious triple bottom line, economic, social and environmental. Sound familiar?
Jobs, consumption and wealth generation, innovation, taxes, product and service supply… A company contributes to society in various ways. Beyond all this, some seek to generate a positive impact on the environment, healthy products…
But how has digitization influenced this? The voice of consumers and their organisation in networks have forced companies to become aware of their social responsibility and their responsibility to the environment in order to connect with society.
What are the changes that lead companies to focus on the end consumer?
- New 100% digital competition has emerged for the traditional company, which better understands and dominates the connected market.
- Apple showed the need to design products and services with a previous knowledge of people’s needs.
- A company’s bottom line increasingly includes social or environmental variants, in what is known as the Triple Bottom Line.
Putting the Focus on People
Human-centred organisations focus their strategy on connecting and satisfying the consumer, their workers and collaborators and society. How do they do this?
- They investigate what is important for society, even moving forward, to future needs. This is where Big Data brings its full value: the market is talking on social networks and new software is learning to listen and turn conversations into ideas and niches to satisfy. More than ever, companies can bring about social improvements.
- What if the objective is to make the buying process a friendly experience? When brand loyalty dies, it’s time to generate an emotional relationship. We invite you to reflect here on what binds you to your favorite brands.
- How to create a sense of community in the company? All employees and collaborators have valuable experience that can contribute to corporate advancement. Their welfare, in addition, is crucial to generate a good brand image and capacity for innovation.
- It is also important to incorporate the long-term vision and concerns of society into production processes.
An economic, social and environmental performance account
From this corporate social need, the concept of the Triple bottom line has emerged. But what does it mean exactly? It is a strategy that generates a lot of impact by seeking a balance between economic, social and environmental objectives. A real challenge.
A Triple bottom line project is a great way to meet the standards of responsibility that society demands from an organization today. The challenge is to measure their level of economic results and compliance with social objectives, with methodologies such as the Global Reporting Initiative (GRI), promoted by the United Nations sustainability program, or the Social Return on Investment (SROI).
How far or how close is your company to creating its own?
People First es un espacio de inspiración donde compartimos contenidos con un eje común: las personas. Desde distintas ópticas y sectores, abordamos varios temas, tendencias y noticias de interés humano.