'In Andrew Carnegie's 1889 essay "The Gospel of Wealth," he stated that business and the wealthy are the caretakers of our future society. " ... "How times have changed. Many of today's entrepreneurs are building their businesses based on the idea of fulfilling a new kind of social contract, one in which organizations voluntarily take responsibility for the "triple bottom line": people, planet, and profits. While corporate social responsibility (CSR) is not a new concept, it has new meaning in a Web 2.0 world. For consumers, the Internet and social media deliver a kaleidoscope view of a company's corporate culture. Given this new insight, consumers are exercising their right to patronize companies with values that mirror their own.<quoted text>
Banks should be financially responsible, but who gives a damn about banks being "socially irresponsible"?
In fact, for banks, social responsibility and financial responsibility are incompatible.
Companies today have to address questions that are external to their core business. Does the organization have a moral compass? Does it support worthy causes? Is it a good corporate citizen? Stepping back and taking a fresh look also gives brands a great opportunity to redefine themselves and optimize for the future. It should come as no surprise to corporate America that CSR has become a talent magnet, a sales magnet, and an investor magnet." ['Plus ca change;plus de la meme chose'] Check this out: http://business-ethics.com/2010/10/15/1544-tr...