Companies Have to Rethink Their Role in Society

Maximilian Grimm, Beyond Philanthropy
May 10, 2018 10:30 AM ET

Beyond Philanthropy’s benchmarking study on Corporate Citizenship Engagement of the DAX 30 companies shows that German corporations are actively engaged in society beyond their economic activity; nevertheless, they should do more than just reducing their negative impacts on society and environment or contributing cash donations to NGOs. Companies will need to take their social engagement activities to the next level by deploying their core products and services for the good of society. And as a social impact consultancy and founding member of CECP’s Global Exchange, we at Beyond Philanthropy are convinced that companies can be a force to do good.

In our recently published study Value2: Social Innovation for Companies and Society, we have taken a closer look at the Base of Pyramid concept and explored its feasibility for an industrialized country such as Germany. The result: the 16M people (~20 % of Germany’s population) at risk of poverty and social exclusion spend more about 80 – 120 bn EUR annually on basic needs. This led us to the conclusion that there is ample demand and opportunity for business to develop innovative products and services that simultaneously increase the quality of life for low-income households and generate business value. Now, we are looking forward to working with bold and ambitious companies to develop social innovations with value for society and business.

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