Compassionate Capitalism as some may call it

In a world where capitalism focuses more on profits and revenues, others may think making a difference is totally out of the picture. I was reading about TOMS Shoes and how the company started out as Blake Mycoskie, Chief Shoe Giver, wanted to help children from developing countries by providing them shoes to wear. Their motto: “One for one.” His company would match every pair of shoes sold with a pair given to a child in need. Talk about real and authentic corporate social responsibility. I was reading more about TOMS Shoes and how it garnered a lot of media coverage, one being the AT&T ad featuring TOMS Shoes while they do their shoe drop activity.

What’s really amazing is the fact that the business model is built on the concept of compassionate capitalism where their vision is primarily what sustains the business. His explanation on the CGI U meeting with President Bill Clinton highlights that even during this time of economic crisis, they have sold three times as much in the same month as compared to last year.

TOMS story is a testimony of compassionate capitalism at work and how organizations should think about their impact in society. More than just the leader’s vision of growing the organization to greater heights, couple that with being socially responsible is how we can create a sustainable environment and make this world a better place to live in.

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