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Doing the right thing in business

Doing the right thing in business

There was a factory fire about 20 years ago in the Boston area. The owner, Aaron Feuerstein, continued to pay the workers until the factory was rebuilt. That was exceptional and unheard of in business. This remarkable story of Malden Mills was on CBS news at the time. Mr Feuerstein was referred to as a Mench – a person of integrity and honor.

We recently attended a conference and for the first time, we were not given reams of papers and copies of the presentations. So many times, the handouts would be left behind in hotel rooms or even at the table in the conference hall. They are available electronically and easily found if we needed them.

Businesses exist to make profits, provide a livelihood for their employees, and to take care of the environment and communities they serve. The belief is that there is more to business than just maximizing profit.This week’s esourcing wiki article provides an Intro to Corporate Social Responsibility, otherwise known as CSR.

It is not always easy to keep all those components in play. Especially in today’s competitive environment and marketplace, the focus can often be only on the financials.

There is a quote from CS Lewis, “Integrity is doing the right thing, even when no one is watching”. How does that work in your organization? How does procurement contribute to CSR?

 Share your thoughts by commenting below or tweeting @BuyersMeetPoint

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Tuesday, 07 July 2020

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