Should businesses have a socially responsible purpose?

Cardinal Vincent Nichols contributes to the CBI’s ‘The Great Business Debate‘…’We all know that there are many excellent businesses who hold themselves to the highest standards and make that positive contribution today. But we also know that the core problem is real, and it is not one better PR can solve. There is a deeper issue underlying the loss of trust which must be confronted for the long term good of both business and society’.
He discusses the Blueprint for Better Business initiative’s 5 principles of a purpose driven business and gives examples of the ‘ills’ that need to be addressed ….’whilst the Blueprint sets aspirational goals, it also sets out clear challenges around the perennial issues I listed above that erode trust — inexplicable pay differentials, exploitation of workers, suppliers and customers, tax planning to avoid a fair contribution to society and abuse, or manipulation of regulation for self-interest. And, most importantly, the 5 principles commit businesses to seek inclusiveness of the underserved and disadvantaged.’

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