My Financial Post column this week takes a look at the notion of corporate social responsibility, and in particular the growing feeling that business owners have an obligation to “give back” to society and help create a better world.
I don't agree. I think business owners have their own problems to face first, and that “giving back” to the community – while appropriate, satisfying and always needed – is and must always remain optional.
Having said that, I think that companies that don't give back will face a growing disadvantage as customers, employees and suppliers increasingly demand that companies they deal with reveal more and more about their track record on environmental and social issues.
(Look at the two US retailers that this week announced they won't buy petroleum sourced from dirty sources such as Alberta’s oil sands. The pressure is just beginning.)
As if business wasn't tough enough already.
Read the full story here.