Profits with Principles

The authors of “Profits with Principles” start with the observation that the crisis that capitalism is experiencing today is forcing more and more companies to justify their actions, not only in terms of profits, but also in terms of contribution to the community. They consequently propose ways to help companies do just that.
Don’t expect revolutionary ideas from this book, which is more of a practical how-to guide. Due to its very Anglo-American bent, these tips may sometimes be difficult to transpose to a European context. However, it does offer a rich catalogue of best practices that make pleasant reading and will inspire those who don’t know much about corporate citizenship.
• The introduction presents the main ideas very rapidly. Since the interest of the book resides principally in the variety and abundance of the examples, we strongly advise you not to stop here.
• If you would like to know more about why a company should care about corporate citizenship, you will find the answers in the concise and well-supported first part of the book.
• Most of the book is constituted by the seven principles presented in part 2, which the authors feel should guide any corporate citizenship program:
– Principles 2 and 3, devoted to ways companies can help develop employees and improve the working environment, are clearly the most original and the most likely to find concrete applications. They are illustrated by examples like Citigroup, Alcoa and BankBoston.
– Principles 1 and 4 offer more general, but still interesting recommendations on innovative corporate citizenship and new types of partnerships, and also deserve an attentive read.
– Principles 6 and 7, focused on the notions of corporate governance and the search for meaning above and beyond profit, are often more abstract in their recommendations.
• For advice on the practical aspects of implementing corporate citizenship, consult the section devoted to principle 5, which covers deployment issues, as well as the very interesting conclusion, which clearly presents the qualities and skills needed to ensure success.