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Right Is Might
SOCIAL JUSTICE AND CORPORATE PROFITS
Promod Sharma | FSA, FCIA
Insurance Actuary | @riscario
May 31, 2014
84%
Business
Self-interest
… … doing good work
for society
Right = $$$
The work of science is to
substitute facts for appearances and
demonstrations for impressions.
John Ruskin
verifiable trut...
The work of science is to
substitute facts for appearances and
demonstrations for impressions.
John Ruskin
The work of science is to
substitute facts for appearances and
demonstrations for impressions.
John Ruskin
Right = ?
Doing What’s Right
PAST:
demonstrations
FUTURE:
appearances
Blaise Pascal
(1623–1662)
Pascal’s Wager
probability
theory
decision
theory
Do Right
And
Matters
Do Right
But Doesn’t
Matter
Do Wrong
And
Matters
Do Wrong
But Doesn’t
Matter
$
Bank
-rupt
$
$$$
$$$
Do Right
But Doesn’t
Matter
insurance
Do Right
And
Matters
insurance
Do Wrong
But Doesn’t
Matter
Do Wrong
And
Matters
Do Right
And
Matters
Do Right
But Doesn’t
Matter
Do Wrong
And
Matters
Do Wrong
But Doesn’t
Matter
$
$$$
$$$
insuranceinsur...
206,650
Gatorade: Don’t put flame
retardant chemicals in sports
drinks!
1,129
+ 2,515
Rana Plaza, Bangladesh
April 24, 2013
“… none of the
companies
involved are suppliers
to Benetton Group or
any of its brands”
(@benetton,
Apr 24, 2013)
DENIAL
a...
REACTIVE
$17M
$40M Compensation Fund
REACTIVE
LEAD
Pretend you can read this
“putting social values first.”
11,536
Project Ara
59,374
Powerade: If Gatorade can
take crazy chemical BVO out
of sports drinks, so can you
The Most Credible Spokespeople
Edelman Trust Barometer 2014 – Executive Summary
Most trusted sources
Do Right
And
Matters
Do Right
But Doesn’t
Matter
Do Wrong
And
Matters
Do Wrong
But Doesn’t
Matter
$
$$$
$$$
insuranceinsur...
Promod Sharma | @riscario
Right Is Might: Social Justice and Corporate Profits
Right Is Might: Social Justice and Corporate Profits
Right Is Might: Social Justice and Corporate Profits
Right Is Might: Social Justice and Corporate Profits
Right Is Might: Social Justice and Corporate Profits
Right Is Might: Social Justice and Corporate Profits
Right Is Might: Social Justice and Corporate Profits
Right Is Might: Social Justice and Corporate Profits
Right Is Might: Social Justice and Corporate Profits
Right Is Might: Social Justice and Corporate Profits
Right Is Might: Social Justice and Corporate Profits
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Right Is Might: Social Justice and Corporate Profits

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[UPDATE (Jun 10, 2014): Now includes a studio recording of the presentation]

Does doing what's right boost corporate profits? If not, how can corporations be encouraged to behave in ways which are good for them and society?

This presentation from the first-ever The Global Change Initiative (http://globalchange.ca) explores these questions and proposes ways for a win/win. Examples include Sarah Kavanaugh (Gatorade/Powerade), Rana Plaza, the Fairphone and Project Ara. The summit took place at Toronto City Hall from May 30 - Jun 1, 2014 in the same Council Chambers used by Mayor Rob Ford.

This is the full slide deck used by actuary Promod Sharma.

Published in: Business
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Right Is Might: Social Justice and Corporate Profits

  1. 1. Right Is Might SOCIAL JUSTICE AND CORPORATE PROFITS Promod Sharma | FSA, FCIA Insurance Actuary | @riscario May 31, 2014
  2. 2. 84% Business Self-interest … … doing good work for society
  3. 3. Right = $$$
  4. 4. The work of science is to substitute facts for appearances and demonstrations for impressions. John Ruskin verifiable truths displays of proof
  5. 5. The work of science is to substitute facts for appearances and demonstrations for impressions. John Ruskin
  6. 6. The work of science is to substitute facts for appearances and demonstrations for impressions. John Ruskin
  7. 7. Right = ?
  8. 8. Doing What’s Right PAST: demonstrations FUTURE: appearances
  9. 9. Blaise Pascal (1623–1662) Pascal’s Wager probability theory decision theory
  10. 10. Do Right And Matters Do Right But Doesn’t Matter Do Wrong And Matters Do Wrong But Doesn’t Matter $ Bank -rupt $ $$$ $$$
  11. 11. Do Right But Doesn’t Matter insurance
  12. 12. Do Right And Matters insurance
  13. 13. Do Wrong But Doesn’t Matter Do Wrong And Matters
  14. 14. Do Right And Matters Do Right But Doesn’t Matter Do Wrong And Matters Do Wrong But Doesn’t Matter $ $$$ $$$ insuranceinsurance
  15. 15. 206,650 Gatorade: Don’t put flame retardant chemicals in sports drinks!
  16. 16. 1,129 + 2,515 Rana Plaza, Bangladesh April 24, 2013
  17. 17. “… none of the companies involved are suppliers to Benetton Group or any of its brands” (@benetton, Apr 24, 2013) DENIAL attendance sheet label
  18. 18. REACTIVE
  19. 19. $17M $40M Compensation Fund REACTIVE
  20. 20. LEAD
  21. 21. Pretend you can read this
  22. 22. “putting social values first.”
  23. 23. 11,536
  24. 24. Project Ara
  25. 25. 59,374 Powerade: If Gatorade can take crazy chemical BVO out of sports drinks, so can you
  26. 26. The Most Credible Spokespeople Edelman Trust Barometer 2014 – Executive Summary Most trusted sources
  27. 27. Do Right And Matters Do Right But Doesn’t Matter Do Wrong And Matters Do Wrong But Doesn’t Matter $ $$$ $$$ insuranceinsurance
  28. 28. Promod Sharma | @riscario

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