There's a lot of skepticism among the public for companies that claim to have social benefit, especially if you're an oil company or an automaker. One framework I would suggest is one that has been developed by the F.B. Heron Foundation and they just call it net contribution. And basically, did you have a positive or negative impact in that particular type of capital? There are lots of small companies that are doing deep good for the world.
From corporate social responsibility to ESG, an increasing number of for-profit organizations are pursuing positive social impact. But to “do well by doing good,” Jacob Harold (cofounder of Candid; former CEO of Guidestar) tells HBR IdeaCast host Curt Nickisch that you need a good
strategy. Otherwise, things can go very wrong.