Kazuaki MoriBy Peter Harris
The Value of Responsible Withdrawal from the Market
In a speech at the American Chamber of Commerce in Japan in August, Brackett Denniston III, General Counsel for GE spoke about how he has tried to bring “society into strategy.” Denniston, a firm believer that companies can provide social values and benefits, as well as employment and income, sees Corporate Social Responsibility (CSR) as a moral obligation as well as having a positive financial outcome for the company. In particular the “reputational capital” gained by behaving in a way that treats human beings and the environment with respect is highly valuable for the company’s brand image.