Corporate Social Responsibility: Mark Zuckerberg Makes a Statement
In the wake of the millennial business world, many companies are taking a more prominent role in promoting corporate reasonability programs for their employees and executives. Corporate social responsibilities are corporate initiatives taken by big businesses to impact and affect the environment and social well-being of the communities they serve. The term generally applies to the efforts of companies and executives going above and beyond what may be required by regulators for the sole purpose of creating and promoting an ever longer lasting positive, social, and environmental change.
When it comes to corporate social responsibility, there are actually two ways a company can give back to their communities. The first one consist of the more antiquated, and some what isolated, way of helping where a company or an executive provides financial funding and resources for worthwhile social causes, such as donations for charities or crowdsourcing. While their intentions are positive, the act of donating has lost its lust in the image for many businesses. That being said, many companies have steered to the second type of corporate responsibility, volunteering. Since the early 2000s, many companies have begun creating real action plans to produce and provide services that are for the betterment and interest of our society. These include things like safe materials, mentorship, speeches, environmental initiatives, and other factors that touch on the core ideas for building success. For example, the corporate-run businesses like Orange Bowl organization or Accenture have actively volunteered their time at schools to promote, cultivate, and mentor students time and time again.
While the act for some companies may be minimal, the overall impact they are having on our communities is incredibly impactful. The most successful corporate social responsibility programs, however, are those that are able to integrate both types both concepts of corporate responsibility and employ a true attack plan in solving rather than nullifying the problems.
This concept has of course taken center stage with the multi-billionaire and tech guru Mark Zuckerberg’s announcement of donating 99% of their Facebook shares (worth $45 billion dollars) to the “advancement of human potential” and “promotion of equality.” While this may adhere to the first concept of donation, Mark Zuckerberg’s stance takes a stronger approach to the second concept by simply understanding where the money is going. During the 2010 academic school year, Mr. Zuckerberg reportedly donated a mass amount of $100 million dollars to the Newark Public School District. Though his intentions were strong, many public officials quickly criticized Zuckerberg’s plan for its lack of resources, equal funding, and overall success. To not make the same mistake twice, it looks as if Mr. Zuckerberg is a more hands-on approach by establishing the Chan Zuckerberg Initiative where, rather than a traditional foundation, this program will allow that funding to aid non-profit organizations, make private investments, and participate in political debates. Unlike limited liability companies, the Chan Zuckerberg Initiative looks to create and change the world.
While we are just going to have to wait to see what this change means for our world, this is one of the biggest leaps an executive is making to give back to their communities. Hopefully, his first steps are the necessary steps needed for others to lead and follow with in the future.
