Ethics & Social Responsibility Plan

At the point in life where your talents meet the needs of the world is where God wants you to be. — Albert Schweitzer

Do Well by Doing Good As you start your business, you have many goals. You’re focused on developing your business concept, getting

funded, making money. What does social responsibility have to do with these?

Just as individuals have responsibilities to their communities, companies likewise have responsibilities and

obligations to society at large. “Corporations” are unique entities with many rights and privileges. Society, through

its laws, grants “corporations” special and favorable benefits, such as the limits on personal liability of a

corporation’s shareholders. Imagine, if you can, that every shareholder in a company had personal liability for that

company’s actions: There certainly wouldn’t be much of a stock market. Every business, whether it realizes it or not,

relies on the continuing support of society.

“Entrepreneurs are a great resource for community involvement; they can use the same kind of skills for building the community that they do for building a business. Community involvement becomes an asset of

the company.”

Gib Myers

Venture Capitalist

Moreover, being socially responsible is part of the overall health of your company. First, it establishes your

company’s values and fosters your corporate culture. Businesses that act with integrity and honesty are more likely to

have their employees act with integrity and honesty toward the company and their fellow workers. Being a good

corporate citizen makes it less likely that your company will get in trouble with regulatory agencies, arouse the ire of

taxing authorities, or face law suits or fines.

Additionally, employees themselves get value from being part of an organization that is committed to enhancing

the social good. Programs that allow employees to be involved in community causes as part of their company

activities are viewed as a valuable benefit, much like other employee benefits. Prospective employees often look at a

company’s values and social commitment when comparing job offers. Being able to attract and retain the kind of

people you want is critical to the success and growth of your business, so your social commitment helps the long-

term value of your company.

Corporate social responsibility benefits

■ The business

■ The community

■ The economy

Being socially responsible is the right thing to do, and there’s always strength in doing the right thing.

“The new type of socially responsible organization gives people an amazing experience, not just intellectual satisfaction.”

Premal Shah

President, Kiva

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