Corporate Responsbility 3.0: Good and Networked
Conditions are now ripe for a real breakthrough in the effectiveness of corporate responsibility–CR 3.0: the Network Effect.
Increasing evidence across multiple fields shows that “network effects” have a profound impact on the success or failure of human endeavors. How people connect to and collaborate with each other can predict the spread of disease, the spread of ideas, the spread of culture, and the spread of business success. By understanding and taking advantage of several important characteristics of modern networks, corporate responsibility executives can dramatically improve their probability and scale of success.
Leading businesses and fast-growing startups understand this. From marketing to purchasing, companies increasingly capitalize upon the power of networks. They integrate their processes and supply chains across the globe. They use new technologies to reach niche customer segments. They form alliances with peers and competitors one day and return to fierce competition the next. Those that can create and connect to networks of individuals, organizations, and systems can sell more, produce more, serve more, deliver more, innovate more, and solve more.
The amalgam of strategies, commitments, processes, policies, and functions that together form CR3 is overdue to take advantage of its networks. CR has its own networks of communities, nonprofits, employees, existing partners, and stakeholders. Sometimes these stakeholders are viewed as dragging down an enterprise’s momentum. But what if we looked at the CR network as an opportunity and asset?
The views expressed herein are those of the authors and do not necessarily state or reflect those of the U.S. Chamber of Commerce Foundation, the U.S. Chamber of Commerce, or its affiliates.
Release Date: October 2013