Enhancing business internships: Focus – inclusive business – Part 2

LAST week we showed examples of an emerging paradigm of Corporate Social Responsibility (CSR), sometimes referred to as Corporate Social Values (CSV) or Corporate Social Initiatives (CSI). We noted the changing thrusts of CSR programs. Where before, investors staunchly demanded from their companies not to have CSR programs eat into company profits, the emerging paradigm in our century is that investors demand of the company to have its CSR initiatives translate into genuine sustainable development for the marginalized sectors of society, while at the same time, ensure reasonable returns from their investments. Judith Rodin (Rockefeller Foundation president) and Margot Brandenburg explicitly discussed the trend toward what they termed as “impact investing,” in their book “The Power of Impact Investing: Putting Markets to Work for Profit and Global Good” (cf. amazon.com Paperback issue released May 06, 2014).

While questions have been raised whether business and development can be good bedfellows, the number of Philippine companies and associations that have been organized to put into place well strategized impact investing programs is proving the point that, indeed, there is a great change of heart in the business sector – which is to give their best to enhance human life even as they draw from society positive margins for their investments.