Restoring Confidence in the Corporation: Rethinking the Business of ..Business

”Business is a necessary evil in society… only the worst sorts of people are involved” (Plato)
Corporate power, accumulated by the US lead “Arrogant Capitalism” of the inequalities, is dramatically deteriorating, also as a result of the recent financial crisis. “Disaster Capitalism”(see Naomi Klein’s latest book) and the School of Chicago failed. Now a European lead “Nice Capitalism”(see Costas Kataras latest book) is wanted. Long before the crisis, a number of studies showed a growing lack of trust in business and their leaders, ie only ¼ of the public trust them. Further on, brand importance goes also steadily down. For example, brand loyalty today is only 9%, from 40% some years ago. The crisis also showed that the notion of “Powerless State” is a myth. Society is now pressing harder for a new “corporate social contract “ and the new issues for the businesses are endless, including: regulation, environment, unions, privacy, safety, off shoring, civil society, governments as owners, consumer activists , NGOs and others . How modern corporations could respond to these strategic and organizational challenges, beyond simplistic CSR, “Green Wash” practices and the recently invented by brands concept of “social missions in the supermarket shelf”, at a moment where “shareholder value is growing increasingly irrelevant as government and society take a larger role in shaping business and industry” ? The above were some of the topics of the recent lecture, 14/12/2009, of Costas Kataras in the Athens University of Economics and Business, MBA International Program, about Business and Society. You can access his presentation here. The lecture was part of the "Nice Way" strategy series.
The Nice Way initiative of The Costas Kataras Organization includes information, ideas and advice equipping organizations for a competitive advantage in times of turbulence, delivered through a number of tools, including: lectures, presentations, seminars, workshops, strategic foresight, scenario planning, studies, market intelligence, consulting, counselling, networking tools and others, based on Costas Kataras’ fascinating book Nice Capitalism. Lecture topics include: A New Paradigm: The Application of “Chaos Thinking” to Strategy, The European Effect: Is Corporate Europe Beginning to Surpass America? , Restoring Confidence in the Corporation: Rethinking the Business of...Business, The Uncertain Future of Brands: The Next Colossal Corporate Challenge?, The Economics of Happiness: Mastering the New Competitive Advantage ,The Revenge of the Psych: Is Consumers’ Dominance Over Corporations Near?, Rethinking Marketing: Surviving in a New, Polarized, World. More info and a short description of the Nice Way series of lectures, is now availiable.

Corporate social responsibility still makes good business sense

With the recession in full swing and no reprieve in sight, one might expect interest in corporate social responsibility to wane, or perhaps even die a natural death.

Not so, according to Craig Smith, INSEAD Chaired Professor of Ethics and Social Responsibility. He believes that corporate responsibility has never been more prominent on the corporate agenda, according to a recent report by INSEAD Knowledge.

The financial crisis and its effects on the global economy have made it clear, he says, that the stability of our global market system depends on responsible behaviour, sustainable business models and proactive management of business impacts on society, as well as regulatory frameworks.

A CSR Toolbox for European Companies

Corporate social responsibility (CSR) is of crucial importance for competitiveness in Europe, says the latest European Competitiveness Report published by the European Commission. The annual report analyses productivity and competitiveness issues in the EU. In that context the so called CSR Toolbox was launched. CSR Europe's Toolbox includes information, ideas and advice designed to help companies and their stakeholders address socio-economic and environmental challenges and integrate corporate social responsibility (CSR) into mainstream business practice. The Toolbox is based on the first results of the CSR Laboratories, cross-sectoral business-stakeholder cooperation projects under the umbrella of the European Alliance for CSR. (Photo:Günter Verheugen, Vice-President of the European Commission )

What's Wrong with Drug Marketing Communications ?

Prescription drugs have brought many benefits for many people, but their marketing is mired in controversy. Weak government regulation and inadequate industry codes mean that drug companies are using irresponsible marketing to push their pills on doctors, the public and patients. Consumer International's (CI) Marketing Overdose Campaign is all about highlighting the unethical and irresponsible marketing practices of drug companies around the world. Get the latest updates from this blog.According to CI the winner of the Marketing Overdose Award for rampant promotion for 2008 goes to...Eli Lilly. According to CI "the company has run foul of marketing regulations in the promotion of it's erectile dysfunction(ED) drug Cialis on a number of occasions".With sales of over $1.1 billion, Cialis is one of Lilly's biggest sellers and the company only for 2007 spent $152 million on marketing communications and promotion.The company , according to CI, has been "officially censured by British and Australian authorities no less than three times in the past few years"

Top 3 most listened podcasts for 2009 in The Engaging Brand

The Engaging Brand (TEB) site announced the ranking of the most popular shows (podcast ) produced in 2009, series of interviews of Mrs Anna Farmery with global business and marketing personalities . The interview with Costas Kataras, Are We Facing the Death of the Brand? ranked No 3 for 2009. TEB produces The Engaging Brand podcast , that was nominated two years running for the Best Business podcast . The show interviews a wide range of people looking for creative ideas of how to develop business. More info, including the top 5 list, here. Also in other blogs.