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October 2006
Companies are discovering the profit potential of social responsibility, but it's up to the CFO to find the right balance, according to the cover story in the October CFO Magazine.
The article looks at the role of the CFO in balancing companies' financial welfare with the need and desire to be socially responsible.
If the CEO is pushing socially responsible programs but investors are looking at quarterly results, what's a finance exec to do?
It's a tricky position when it comes to Wall Street. "There is a dilemma of being caught between reporting to the market every quarter and dealing with these longer-term issues," said Center Executive Director Bradley Googins, who was interviewed for the article.
"The return on investment in CSR depends on three things: the industry, the company's existing reputation, and the way the company approaches the issue," according to the article.
"Each industry has its own set of challenges," said Googins. "Some have more environmental issues, some have more employee-relations issues, but none are immune."
The article mentions the CSR programs of a number of companies, including Center members General Mills, Green Mountain Coffee Roasters, General Electric, Timberland, and BP.
To read the complete article, click here.
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