TED: The business benefits of doing good | Wendy Woods

The video discusses the limitations of corporate social responsibility (CSR) and introduces the concept of total societal impact (TSI) as a more effective approach for businesses to address global challenges. It highlights examples from companies like Mars, Airbnb, and Standard Bank, showing how TSI can lead to both societal benefits and business growth. Data is presented to demonstrate the financial advantages of TSI, and the growing interest from investors in socially responsible investing is noted.

What is the main reason businesses need to be involved in solving global issues?

• They are more efficient than NGOs.

• They can invest trillions, not just billions.

• They have a moral obligation.

• They have more resources than governments.

Why is Corporate Social Responsibility (CSR) considered insufficient?

• It is too expensive.

• It is not scalable and is often cut during downturns.

• It is not popular among employees.

• It focuses only on environmental issues.

What does Total Societal Impact (TSI) emphasize for businesses?

• Maximizing profits at all costs.

• Reducing operational costs.

• Focusing solely on shareholder returns.

• Incorporating social and environmental considerations into core business operations.

How has Mars addressed the sustainability of its cocoa supply?

• By reducing cocoa production.

• By partnering with NGOs to support small farmers.

• By increasing cocoa prices.

• By importing cocoa from new regions.

What financial benefit do oil and gas companies see from strong TSI performance?

• A 19% premium on their valuation.

• A 10% increase in profits.

• A 5% reduction in costs.

• A 15% increase in market share.

Which industry sees a 12% premium on valuation for strong TSI performance?

• Retail banking

• Biopharmaceuticals

• Consumer goods

• Technology

What percentage of global assets were in socially responsible investing last year?

• 25%

• 15%

• 30%

• 10%

How does Airbnb's TSI initiative benefit their business?

• By increasing the number of hosts and guests.

• By focusing on luxury accommodations.

• By charging higher fees.

• By reducing operational costs.

What innovative approach did Standard Bank take to support black-owned enterprises?

• Offering interest-free loans.

• Providing free business training.

• Investing in an independent trust to fund loans.

• Donating directly to entrepreneurs.

What is the ultimate goal of integrating TSI into business strategies?

• To reduce employee turnover.

• To solve societal problems profitably and generously.

• To expand into new markets.

• To increase short-term profits.