What is Giving Compass?
We connect donors to learning resources and ways to support community-led solutions. Learn more about us.
Giving Compass' Take:
• Dr. Robert S. Kaplan sets out a roadmap for companies and big businesses to move beyond traditional philanthropy and CSR to Positive Impact with the intentional creation of enduring social and economic value.
• What are the challenges of finding a balance between social and financial gains? How can donors help corporations reach their Positive Impact goals?
• Here's an article about philanthropy’s power to fuel economic development and alleviate poverty.
Leading Harvard business academic Dr. Robert S. Kaplan has warned major corporates to be bolder with their strategies for social and economic impact or risk a further rise in inequality and poverty across the world – and a decline in their profitability.
He set out Palladium’s roadmap for companies to move beyond traditional philanthropy and CSR to Positive Impact – the intentional creation of enduring social and economic value. He set out four critical steps to generate economic and social value at scale:
Be Bold – Companies have tried to upgrade traditional CSR programmes, but all too often they have limited impact and very rarely produce transformational change.
Think Collaboration – Companies need to partner with a ‘catalyst organization’ to engage actors from multiple sectors to generate economic and social value.
Unlock Capital – Investment funds favor safe projects. One solution is to find capital from organizations that already have a mission to create inclusive growth ecosystems
Align and Govern – Building an ecosystem is not for the fainthearted. Shared metrics provide accountability and the foundation for governing this ecosystem.
Read more about addressing inequality and poverty by Api Podder at My Social Good News.