As we begin 2023, society faces numerous challenges, from inflation to healthcare and education to climate change. But there is hope. More and more companies are recognizing their role in contributing to the world around them.  

The pandemic has heightened awareness of companies’ social responsibilities, with a growing trend of organizations looking to “do good.” This is driven by consumers seeking ethical buying options, employees looking for values-aligned employers, and investors seeking positive impact beyond financial returns. All stakeholders now demand accountability for a company’s social impact. 

The ability of a company to create a positive impact can result in increased workforce attraction, customer acquisition, and a competitive advantage. It’s a symbiotic relationship, where a thriving society leads to thriving businesses, and vice versa. However, organizations often take a narrow approach to social impact, such as focusing on a specific action, like promoting women’s contributions on March 8th, instead of reflecting their values in their daily practices and structures. To effectively drive social impact, companies should first concretely define how they embody their values, rethink their governance systems, and consider the tangible impact of their actions. However, it’s not enough to simply focus on isolated initiatives or projects. To truly make an impact, companies must reflect their values in their day-to-day practices, rethink their governance systems, and consider the tangible effects of their actions. Business leaders must take this resolution seriously and make change, one step at a time, for the right reasons.  

As corporate citizens, it’s our duty to contribute to a better world for future generations. Every business should ask itself: how do our actions contribute to making the world a better place? Let’s hope that the next 11 months of 2023 will provide an opportunity to answer this question and make a real impact.”