CEO Blog

The importance of being socially responsible

Hisham Farouk Hisham Farouk

 

In our everyday lives we often focus on our daily routines and business practices. In the initial start-up phase of a business, the emphasis and importance is on building a financially viable business, however as the business matures it is imperative that they become socially responsible in order to make a wider difference to society and the environment in which we live in.

Whilst the financial and economical elements of a business are still important, businesses need to appreciate that our global landscape is changing. It is essential that we are socially responsible through leading initiatives that are critical in order to sustain our society and economy. The environment is in greater danger than ever before, therefore creating an environmentally free and sustainable environment is more so important than ever before. Businesses need to consider the three fundaments for a successful future and business longevity which are planet, people and profit.

At Grant Thornton, we are actively involved and are socially responsible, because we believe that in order for the environment and society to take care of us, we as an organisation must support in taking care of the two elements which are evident throughout our personal and professional lives.

The level of activity across each member firm ranges from the enhancement of technical education to social activities which have a positive impact on the environment and surrounding areas. At Grant Thornton UAE, we support a number of initiatives including Operation Smile, EWS-WWF on their environmental initiatives and various other initiatives such as training and developing our communities and people. 

Porter explains that “virtually every activity in a company’s value chain touches on the communities in which the business operates, creating either positive or negative consequences”, therefore we must ensure that as a society we become socially responsible so that we continue to make a positive impact and look after the environment and the people within it, in order to ensure a sustainable future.

 References:

Michael Porter, ‘Strategy and Society’, Harvard Business Review, pg 7.