A lot of folks across industries are talking about corporate citizenship. What does it mean to be a good corporate citizen?
According to Investopedia, “Corporate citizenship involves the social responsibility of businesses and the extent to which they meet legal, ethical, and economic responsibilities, as established by shareholders.”
Being a good corporate citizen is not a “nice to have.” To remain a responsible, competitive, and profitable company, it’s a “must have.”
A good corporate citizen means being guided by strong moral and ethical standards in daily interactions with customers, shareholders, and employees. That includes carefully balancing shareholders’ needs with those of the community and always considering the environmental impact of business operations.
Good corporate citizens value, monitor, and beneficially affect communities and societies at large. As an example, at Verisk, we’ve partnered with 100 Resilient Cities to help cities around the world become more stable and strong in the face of physical, social, and economic challenges.
Good corporate citizenship strengthens employee engagement, and when we’re all engaged, good things happen.
