April 16, 2014

Who Said That?

Florida's quote of the day

| 2/27/2014

"There are dollar amounts for patents, licenses, customer relationships, trademarks, but we don’t usually try to assess the value of a company’s social responsibility."

-- Peter Gampel, the director of business valuation at the accounting firm Fiske & Company in Florida

Ever since the term “corporate social responsibility” became popularized in the 1960s, it’s been used to cover a broad swath of ethical issues, including those that affect the environment, human rights, supply-chain sustainability, consumers and transparency with corporate governance. All of the world’s largest companies have corporate social responsibility programs; indeed, according to a 2013 study by Boston College’s Center for Corporate Citizenship, 97% of surveyed companies reported being allocated a discreet operating budget for corporate citizenship, compared with 81% in 2010. So it seems safe to say that CSR is a business approach that is here to stay.

Read more at Forbes.

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