The assertion that philanthropists historically decided to support nonprofit efforts with little critique of results may be met with some agitation but Mark Kramer also criticizes corporate industrialism, saying the environmental consequences of profit-focused businesses have been largely ignored by the business sector, causing social justice and nonprofit organizations to push back against those excesses. Impact investing, a business model where profit can still be earned while accomplishing worthwhile social goals, is one solution.
Mark Kramer also contends that companies inclined to rethink their corporate social responsibility (CSR) efforts should invest in the social sector and “shared value.” This could strengthen the overall competitive environment for business. As an example, he points to a medical device manufacturer which the FSG foundation convinced to assist with health care in India. The foundation notes that health care in India needed more government involvement and more training for health care providers, especially in rural areas, and that companies could design products that meet the needs of the low-income population.
During this audio interview Kramer discusses the challenges of coordinating corporate social responsibility projects with corporations, and how the success of the cell phone industry in emerging (third world) markets has enabled low-income users to participate and provide feedback, thereby allowing CSR to thrive.
Mark Kramer is Co-Founder and Managing Director of FSG and author of influential publications on corporate social responsibility (CSR), catalytic philanthropy, strategic evaluation, impact investing and adaptive leadership.
Kramer oversees FSG's consulting practice and helps drive the vision and growth of the firm. He has led consulting engagements across all of FSG's impact areas, with particular emphasis on philanthropic strategy for private and community foundations, CSR, evaluation, and impact investing. Kramer also leads the research on many of FSG's publications and publishes regularly in Harvard Business Review and Stanford Social Innovation Review. He is a frequent speaker around the world on topics in catalytic philanthropy, collective impact, creating shared value for corporations, new approaches to evaluation and shared measurement, impact investing, social entrepreneurship, and adaptive leadership.
Kramer served for twelve years as President of Kramer Capital Management, a venture capital firm, and before that as an Associate at the law firm of Ropes & Gray in Boston, and Law Clerk to Judge Alvin B. Rubin, Fifth Circuit, US Court of Appeals.ec Inc.
Resources:
This free podcast is from our The Future of Green: Defining the Next Generation of Sustainable Business series.
For The Conversations Network: