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Balancing Social Responsibility With Corporate ProfitBy Christine Harrell Although large corporations have a reputation for being run by evil men who cackle and rub their hands together as they destroy the environment, many have used their profits to do good. However it can be hard to find equilibrium between making money and helping people. Working with outsourced accounting services can help your company to form a strategy to do both and that strategy will depend on your core motivation for running your business. Motivation #1: 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. Motivation #2: 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. One advantage of this structure over a non-profit one is that they are not limited by the vagaries of donations or grants. They control their source of revenue and with smart business decisions can grow the organization as much or as little as they want. Many feel that they are able to provide more help than a traditional non-profit structure would allow. About the author Author is a freelance copywriter. For more information on outsourced accounting services, visit http://www.osibusinessservices.com/. |
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