A few weeks ago, Laurence D. Fink, CEO of BlackRock, one of the world’s largest global asset management firms, in an open letter to CEOs, point-blank told businesses it is their responsibility to do social good.

He writes, “many governments are failing to prepare for the future, on issues ranging from retirement and infrastructure to automation and worker retraining. As a result, society increasingly is turning to the private sector and asking that companies respond to broader societal challenges.”

An impactful call to action coming from the founder of the of the world’s largest investment firms worth $6 trillion.

Social good and capitalism are becoming intrinsically linked because the world is demanding it. It’s no wonder that brand activism is the latest trend in the business world. A trend that seems like it’s here to stay if Fink’s letter is any indication.

Most large-scale corporations have philanthropic arms and for the past several decades, corporate social responsibility has become a mainstay in the business world.

But what if businesses went further than that? What if we become truly focused on the idea that profits don’t have to come at the cost of doing good or addressing social issues? There is a growing perception that it’s actually the right thing to do long term from a profit standpoint.

The very essence of FoodtoEat is to be invested (pun intended) in the idea of social good and community. We’re building a diverse food community by empowering small restaurant owners, many of whom are immigrants and women, to grow and sustain their businesses. We help food vendors connect with larger-scale corporate clients, bring in more cash and grow their business. Our business model is based on providing services to small business owners that are often underrepresented and overlooked. Not only do we connect small businesses with corporate clients they couldn’t reach on their own, we also help vendors create catering menus and improve their catering operation through feedback given at in-house tastings.

So, what’s our secret sauce for creating profits and contributing to society at the same time? Here are our three ingredients:

  1. We support small businesses get bigger clients and grow their revenue.
  2. We’re truly invested in diversity, specifically immigrant, minority and female-run food vendors.
  3. By introducing international cuisines to our corporate clients, we’re bridging the gap between different worlds.  

 

Resources:
https://www.forbes.com/sites/hbsworkingknowledge/2018/02/03/how-to-heed-blackrocks-call-for-corporate-social-responsibility/#54a26e37290a
https://www.forbes.com/sites/susanmcpherson/2018/01/12/8-corporate-social-responsibility-csr-trends-to-look-for-in-2018/2/#efe1f7f54e2f
https://www.forbes.com/sites/brianrashid/2017/04/25/why-more-and-more-companies-are-doing-social-good/#39bb8189db07
https://www.cnbc.com/2018/01/23/blackrocks-push-for-social-responsibility-shows-shift-in-companies.html

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