| A better kind of corporate social responsibility |
| McKinsey Classics | March 2018 |
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| ‘Smart partnering’ for both business and societal value |
| Many executives see corporate social responsibility as a distraction. Yet some farsighted ones consider it an opportunity to strengthen the actual business of their companies while contributing to society as well—something that is especially important at a time of growing distrust of both business and government. “Smart partnering” is one way to generate value for companies and society alike. The focus of the company moves beyond enhancing its reputation and toward improving its ability to address major strategic challenges. Society’s focus shifts from maintaining minimum standards or seeking funds for investment to raising employment, the quality of life, and living standards. |
| One well-known company, for example, increased its penetration of hard-to-serve rural India by appointing local women to sell its products there. These “entrepreneurs” (as they were called) received extensive training and borrowed money from their self-help groups to purchase the company’s products, which they sold in their own areas. Eventually, this project employed 42,000 women who covered nearly 130,000 villages and three million households a month. To learn how companies can do good while doing well, read our 2009 classic “Making the most of corporate social responsibility.” |
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| Debunking trade myths |
| To see through the widespread misconceptions about how economies create and destroy manufacturing and service jobs, read “Trading myths: Addressing misconceptions about trade, jobs, and competitiveness” and the McKinsey Global Institute report on which it’s based. |
| See through the misconceptions → |
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