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Economic tough times…. time to rethink?

September 30 2008

by Mike Tuffrey

Editor's Letter

As the financial markets go into meltdown, it is time to redouble our collective efforts and focus on the things that add value to our companies and stakeholders.

Mike Tuffrey,

Founding Editor

Economic tough times…. time to rethink?

As we go to press, the headlines bring news of rising unemployment, melt down on the financial markets - and near record melt down at the polar ice cap. In the world of CSR, can business-as-usual remain the name of the game? With prescient timing, on the same day Lehman Brothers crashed and HBOS had to be rescued, the US-based National Snow and Ice Data Center reported that the ice cap had shrunk to its second smallest level ever during the summer melting season.

If ever there was a time not to talk about social responsibility and sustainability in warm and fluffy terms, it’s now. Indeed, it is precisely in tough times that a broader perspective is needed:
* Customers may be looking for a bargain, but still enjoy plenty of choice – the added value of the company behind the brand can make the difference.
* Employees may be grateful for a job and less prone to leave but they still need motivation to excel – a company with values lived out in bad times can inspire exceptional performance.
* Governments facing re-election will be tempted to blame companies and threaten regulation – unless behaviour is exemplary.
* Far sighted investors will be profiting from depressed prices to invest in industries with a viable future.

Following our bumper one hundredth anniversary edition, we’re making some changes to support you. First and foremost, we’re accelerating the shift from focusing on news to bring you more analysis of what key developments mean for practitioners. As times get tougher, expect us to be even more sceptical of CSR waffle and hype: our goal is to give you the practical insights and advice to be effective in your job and for your company.

We are also accelerating the shift on-line: our growing website will provide the background articles and features which many of you value, as well as more and more topical news - plus comprehensive jobs and events listings. We’ll shortly be launching a new service, free for subscribers – a bi-weekly comment and analysis straight to your inbox.

Far from fearing the melt down, tough times will force us all to focus on the things that add value to our companies and stakeholders. Corporate Citizenship Briefing is gearing up for the ride.

Mike Tuffrey founded Corporate Citizenship Briefing in 1991 as a way to brief himself and his clients on developments and trends in community affairs, social responsibility and sustainable development – in the belief that companies are citizens of society with rights and responsibilities. He co-founded Briefing’s publisher, the consultancy Corporate Citizenship, in 1997.

An economics graduate and chartered accountant by profession, Mike’s career has taken him to the private, voluntary and public sectors. Currently an elected member of the London Assembly (which scrutinises the new Mayor of London, Boris Johnson) he was appointed to the London Sustainable Development Commission by former mayor, Ken Livingstone. For twelve years, he was a local councillor and leader of an inner city borough and before that a legislative assistant in Parliament.