A group of almost 20 C-level leaders from regional companies gathered at Drexel LeBow College of Business for a conversation about the value (or lack thereof) of corporate social responsibility efforts. The event was a confidential, invitation-only event for shareholders, customers and employees.
The session was co-hosted by Jeff Westphal, president and CEO of Vertex Inc., and LeBow’s Center for Corporate Reputation Management. Westphal has made corporate social responsibility and community outreach a central part of his company’s business plan. The company also supports other causes, including Breastcancer.org and Big Brothers Big Sisters.
Vertex helps customers to free up resources through its tax software and services so they can create innovations that improve overall health, security and quality of life.
Discussion participants included Drexel LeBow professor Dan Korschun, one of the nation’s top experts on corporate social responsibility, whose research shows that when corporate social responsibility confers a sense of unity with customers, it helps employees focus more closely on customer service, leading to increased customer satisfaction and more market share.
Korschun’s research has also found that corporate social responsibility can also increase employee self-esteem and work-home integration, which can increase employee retention and productivity. As well as being a LeBow professor, Korschun is also the co-author of the book, “Leveraging Corporate Responsibility: The Stakeholder Route to Maximizing Business and Social Value.”
The group of executives was welcomed by Marc Brownstein, president and CEO of the Brownstein Group and interim director of the Center for Corporate Reputation Management, and professor Trina Andras, head of Drexel LeBow’s marketing department.