I’m confused. An immense amount of media coverage has been dedicated this past year to philanthropic organizations associated with high-power people and companies doing charitable work in a different way. Bill Clinton has argued that pharmaceutical companies can even make a fair margin off of cheap drugs to developing countries in Africa.
Does corporate social responsibility lead to greater profitability for a company’s shareholders? An article in The Harvard Business Review debunks the idea and determines that there is “a very small correlation between corporate behavior and good financial results.”