Globalization is bringing the world closer together. It’s common for large companies to source goods and services from countries around the planet. This trend represents an opportunity for African entrepreneurs to make a place for themselves at the table. But to truly capitalize, businesses must be ready to behave transparently and responsibly.
That’s because the importance of corporate social responsibility has been growing around the world. Companies are carefully considering their impacts on workers, customers, public discourse, and the environment. Take an average American firm for example. It must consider the optics of every action it takes, including its selection of suppliers.
The company wouldn’t be able to do business with an African firm with a bad environmental record or a history of safety violations. From the consumer’s perspective, the sins of the supplier become the sins of the buyer. If the buyer is doing business with an outside firm that’s polluting waterways, they are indirectly responsible. That provides significant motivation to the supplier to clean up their act. Otherwise they risk losing business.
It’s critical that African entrepreneurs take social responsibility seriously if we want to be full participants on the world stage. We’re under a microscope whether we realize it or not. How we behave locally can make or break our chances globally.
And of course, selfish reasons removed, doing the right thing is its own reward. African companies should strive to be socially responsible because it’s better for the world we operate in. Behaving like a good global citizen makes us stronger.
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