Social Impact Blog: Week of 10/16/2017

All companies have a responsibility to hold themselves to a social standard. For what they are making, there must be a strategy in place to help the company from within and out. This concept is more important now than ever; considering the opinions of stakeholders are getting more and more controlling of what the company does. When I say this, I mean that stakeholders have an influence on their company, and although it could be perceived negatively, companies need to plan more of their social strategy around their stakeholders. “Too often corporate responsibility is looked at and discussed broadly, relying on sweeping aggregate-level research and analysis to gauge its effectiveness and method of execution...Now is the time for companies to realign both internally and with their outside audiences to unity social good with hard-nosed commercial value” (Bhattacharya). Companies need to narrow their focus, be more strategic with their plan, and ultimately the company will be more successful in fulfilling their social responsibility making an impact. Overall, this will help the company’s rapor, the stakeholders will be pleased, and ultimately society will be benefited.