While maximizing the return to shareholders is a primary driver for corporate owners and executives, many business leaders are beginning to broaden their vision. Business can—in and of itself—be a force for good in communities by providing good products, providing jobs, and bolstering economies.
When shareholder values are maximized, there is often a ripple effect of benefit in a given community. However, when maximizing Profit becomes the sole driver for business decisions, People and the Planet can suffer. The concepts of “compassionate capitalism,” “a triple bottom line,” “social innovation,” “social entrepreneurship,” “Benefit Corporations” and “corporate social responsibility” have become more broadly used in the last decade, decrying a change in the landscape for both for-profit and non-profit entities.
Thirty years ago, some would have said, “You go into business to make money. You go into nonprofit work to make a difference in the world.” Today, those lines are blurred and there are an increasing number of ways for social purposes to be advanced through private enterprise.
The Cove is poised to partner with private corporations in ways that can provide meaningful ways to serve and much-needed resources to marginalized young people in our community.