It would be good news if the SDGs were used to their full potential by the Canadian business community. Businesses would be linking profit with purpose while addressing major challenges facing the world by creating and sharing societal value with their stakeholders. There would be a reason to rejoice, yet businesses would be asked to go further by voicing their support for the need to have businesses be purpose-driven.
6) Leading on the Big Issues “Leaders are supposed to lead.” – Zita Cobb, Canadian businesswoman and social entrepreneur The year 2020 will be remembered for a list of reasons including the Black Lives Matter (BLM) movement which is centered on eliminating systemic racism and police brutality towards black individuals. With the BLM movement has come immense pressure for businesses to speak out against systemic racism and take concrete actions within their organizations and communities to help eradicate it. According to numerous Survey Participants, the types of expectations placed on businesses in 2020 and 2021 to step up on systemic racism will not be the exception in the future and will in fact become the rule. Quite a few of the Survey Participants are of the view that to truly be a purpose-driven business that gives prominence to all stakeholders means that in addition to the organization putting in efforts itself, it will also work to influence others to help address societal issues and any injustices towards its stakeholders. In other words, there is mounting pressure for business leaders to lead.
i) Speaking Out on Social Issues “No one has ever improved the world without making a few people uncomfortable” – Michael McAdoo, Partner and Associate Director at Boston Consulting Group It is the view of a number of Survey Participants that business leaders will increasingly need to use their positions of influence to voice their concerns, suggestions, and ideas on substantial social matters on the public stage. This is a departure from the long-standing practice of business leaders staying out of the public discourse. Although it is seen a tad more these days, it is quite abnormal for business leaders to voice their opinions and participate in public debate unless it is a topic that will directly impact their business and even in that scenario, it is often business associations, councils, or chambers of commerce doing the talking on their behalf. This is yet another corporate behaviour that was arguably born or at least enshrined out of the ‘Chicago School’ of thought. Milton Friedman did not believe corporate leaders should speak out on public issues. According to Eric Posner, Friedman claimed that “business executives, although ‘extremely far-sighted and clear-headed in matters that are internal to their business,’ evidently became ‘short-sighted and muddle-headed’ in matters of public import.34 Some business leaders appear to be dismissing this element of the Friedman doctrine as well. Chris Coulter implores business leaders to speak out, “Companies have got to speak up – to be an 57
