business

Several weeks ago I presented to Calgary's JCI chapter.  My presentation was about failure.  I started with a TEDx Video where Tom Wujec presents on how building a marshmellow tower leads to team building and creative problem solving.

Read more »

I sat down with Mr. Hotchkiss 3 years ago and interviewed him about his philanthropy.  I am re-posting the blog post here today in memory of an extraordinary man who was a committed member of Calgary's community as well as an integral part of Canada's fabric. Read more »

In a recent article published by McKinsey and Company, "Global Forces: An Introduction," five trends were identified as the new directions for business.  These same five trends can be applied to global charity and philanthropy. Read more »

Attached you will find a copy of the G8 Young Business Joint Declaration encouraing our countries' leaders to support, invest and encourage economic growth through the entrepreneurship of young business owners.

 

Read more »

Over the past 24 hours the term innovation has been bantered about without clear definition.  Depending on who you ask at you will get the following feedback on what innovation means to them:

• Access to new knowledge
• Access to new markets
• Access to new suppliers

Read more »

“What are the innovations we need to re-launch the economy?”

This is the topic of the G8 Young Business Summit that I will be attending this week.  Pretty hefty question, and one that is timely in light of the recent vote that happened in the US Congress on the Climate Change Bill.   Young entrepreneurs from around the world will be gathering in Stresa, Italy for two-days of workshops, debates, presentations and networking on issues surrounding social innovation and green technology.

Read more »

 

(Photo provided by Mike Scullen) 

I was just at the anti-G.W. Bush rally outside the Telus Convention Centre in Calgary, Alberta. 

Here's the image: A line of predominantly white men over the age of 50 with a smattering of women and perhaps a handful of others representing other minority groups in suits wrapped around the Hyatt hotel along Stephen Avenue Mall.  Across from them a group of protestors who, in contrast to the well-dress businessmen, looked like a rag-tag bunch.  In-between the media, some police on bikes, some cops with cameras and others like myself who are there because we don't support Bush and his former agenda, but we also recognize that our city is built on oil dollars and, right or wrong, it is Bush's policies that made some of our city (read those who were standing in line) very wealthy over the past decade.

So here's my limited take on the whole thing - when you have a legitimate claim that Bush has committed crimes against humanity and then you put up a placard that equates what is happening in Iraq with genocide you water down your argument and make your cause look like a joke.  If you want Bush on trial for what he has done and to be held accountable for his actions, make legitimate claims on the poster-board. 

One of my favourite signs was one that read, "The Geneva Convention Does Not Apply to the Elite."  This passed in front of me when I was standing beside Brett Wilson, CEO of First Energy and member of CBC's the Dragon's Den, standing out from the rest of the suits in his signature jeans and sneakers.  There is something to be said about Calgary's elite standing in line to listen to the man who single-handedly ruined the American economy through poor foreign policy and economic decisions and who is going to be sharing his thoughts on where business should be directing their energies over the next few years. 

I wonder what these people are going to take out of this presentation, what are they going to apply to their own lives, what are they going to tell their kids when they go home tonight about what they learned from the former leader of the United States?

A friend asked me if I had a ticket (which was selling for $400 each... and they say we are in a recession) would I use it.  For sure I would! I want to know what he is saying inside those hallowed halls of the Telus Convention Centre.  I especially want to know how the City of Calgary is justifying the expenses that are being put towards Bush's visit.  Let's be clear, whether you supported Bush and his administration or not, it is your tax payer dollars that are being sucked up during his visit here.

That's my rant for the day.  Back to philanthropy and such next post.

There are five stages of corporate philanthropy:

1. Cheque-book Philanthropy
2. Strategic Philanthropy
3. Community Investment
4. Corporate Social Responsibilty (CSR)
5. Corporate Citizenship

Social capital is the thread that ties these concepts together.  Using this concept businesses can recession-proof their companies.

In my previous post Bullet-Proofing your Corporate Karma, I presented five ways for you to ensure that your community reputation stays intact during this down-economy.  This post looks at how you can take your community partnerships to a new level in a down economy.

From a business development perspective, charities are going to be impacted by the recession just as businesses will be.  They will have fewer dollars to communicate their message and fewer avenues to share their story with (as companies pull out of community projects, decreases the community contact).  When you look at this contracting market there is opportunity for your business to jump into this void.

What does this look like?

1. Cross-promotions: Charities need new and creative vehicles to tell their story.  Your company has the marketing vehicle and the need to connect with a new market.  By evaluating what type of client you are looking for, you can source out the types of charities that your client will be attracted to.  Negotiating a cross-promotional package is a win-win-win for: your business, the charity, and the client that you are attracting (you are supporting the charity that they are supporting).
2. Employee Cost Reduction: On average it costs Canadian companies, 3x an employees' salary to train someone who leaves within the year (this obviously decreases the longer an individual stays with a company).  This is an expense your businesses cannot afford... in any economy.  One way to retain employees and to cut costs associated with those individuals, is to shorten the work week while connecting with your community partner.  What does this look like?  You can offset the expense of that person by having him/her "work" for a charity that is aligning with your business.  In essence, this individual is now acting as an ambassador, both for your company and for the charity.  You are minimizing the costs for the charity by providing them with an employee so that more money is going towards what their mission is.  There are two ways you can save money - by donating the value of the hours of that person to the charity you can garner a tax credit OR you can negotiate a shorter work-week with that individual generating an actual cost-savings.  The result: You are strengthening your position within community which will directly correlate to your bottom line.  One final justification for this work-schedule model is - studies have shown that Gen Y'ers would sooner have a day-off for volunteering than financial compensation.  Playing into that emotional paycheque is just as important as financial compensation.

These are just two cost-effective ways of Recession-Proofing your company.  I would like to hear how you are using community partners to shore-up your business during these tough times.

One of the first things to go during a tough a economy are the "little extras" within your company.  Many businesses, small and large, see community investing as one of those "little extras." 

During weak economic times, Community Investing and CSR policies and activities should NOT be considered a perk.  What these two company standards offer, are a place to hang your hat in community and a method of leveraging your brand when your competition is handing out pink-slips.

One company that is not only honouring their commitments, but has said that they are going to be expanding their company (and hopefully therefore their community connections) is West Jet.  In an interview on last night's news, Sean Durfy, President of West Jet informed the media that during a recession, discount airlines actually fair quite well.  In fact, he feels that they will be looking at expanding their services within North America and Internationally (Mexico). 

Here are five things that you can do to Bullet-Proof Your Company's Social Karma:

1. Honour your previous commitments to the best of your ability
2. Communicate openly with your community partners and identify other ways to leverage your company brand without compromising integrity
3. Share your concerns with your employees - some of them are also committed to the same charities that you have partnered with on a corporate level
4. Review your community investment and CSR policies to ensure that they still align with your company's values.  Make sure you share your findings and encourage feedback from your employees, clients, community partners, shareholders and other interested parties
5. Last, but not least, highlight the important things that you have been doing within community and how they have strengthened your business overall.  By showing how your community engagement has positively impacted your bottom line (staff retention, increased sales, etc.) you can justify the "little extra" that your company has put back into community

What are you doing to strenthen your company's social karma in this economy?  I look forward to hearing your suggestions and sharing them with the rest of the readership.

In both the US and Canada, governments are announcing their economic stimulus packages.  Obama brings on a team of economic advisors ranging from Harvard policy experts and Stanford University economists to past government beauraucrats; Harper met with interest groups across Canada to ensure that his package reflects the needs of the citizens.  At the end of the day the charitable sector wasn't forgotten, but I am not sure it was engaged effectively either.

I wonder, for example, if it is better to do a large long-term investment into the economy (similar to what Obama is suggesting) instead of taking a staged approach.  A staged approach is something that, in working with charities, has been the most effective method of sustainable development.  I think our governments can take a page out of the way the charitable sector manages their finances.

1. Clearly articulate the objectives for the funding and the intended results (long-term vision = impact)
2. Identify ALL the possible sources of funding and timeline to secure those funds
3. Stage the project implementation according to the funding timing AND based on the staged outcomes in order to move the project forward
4. Build in evaluation measures and exit strategies should the program not be achieving its intended outcomes
5. Engage others in your activities

The charitable sector is a very large contributor to both nation's GDP.  Economnic slow-downs are the time to start looking at charitable organizations as partners in weathering the economic storm. 

Donors are becoming more and more savvy in the way they invest their funds.  They are also becoming more cautious of charities as tax-shelter schemes become more prominent in the news.  This means that these individuals are choosing to invest in organizations that have strong reputations, good governance and sustainable funding.  Businesses should be looking for similar clients.  Going where these types of donors are going means that that is also where your business growth can be found.