We all take certain risks in our personal and business life on a daily basis. Some are minor whereas others effect us and our environment more significantly. Risk taking by companies working in the CSR / Sustainability business sector to gain market share and to increase the profitability is there fore a topic which I thought be make and interesting blog post.
Is the CSR / Sustainability business sector more responsible in taking risky business decisions? Or do you even consider risk not at all a relevant issue for this business sector? Have you ever thought about this relationship?
If not, then you need to see this interesting TED talk by Naomi Klein published last December. She makes the case, that a backup plan needs to be included into each risky decision. Especially if we jeopardize our society and planet by this addiction to risk.
This is the video:
My view
The important aspect in my view is that businesses working in the CSR / Sustainability sector have more than others the duty to raise awareness with their customers/stakeholders about the risk they are potentially taking with regards to CSR / Sustainability actions. In my experience are a lot of CSR / Sustainability decisions also in many ways very risky decisions as they will effect the company in unforeseeable ways in the short and long run. Companies advising these businesses need to be their second pair of eyes in my view when it comes to spotting decisions/actions.
What is your view and opinion about this topic? Do you have anything else to share that could help us understand the meaning and relevance of risk for companies working in the CSR / Sustainability business sector?
So I asked myself that question. Is this business sector different to other sectors for example the chemicals business sector?