It is now beyond reproach to determine that outdated attitudes to business practices and historic success criteria (i.e. 1 – profit, 2 – errr, profit etc) are being challenged at every turn. An ever growing number of companies are embracing a much broader definition of success. They understand that achieving profitability is essential, but it should not come at the expense of social and environmental impact. By considering non-financial factors, businesses can (and should) align their goals with a larger purpose and contribute positively to the world.
One only has to look at the variety of new ethical, ecological, and environmental standards over recent years to confirm as such. The most prominent of which include;
· Corporate Social Responsibility
Businesses can become a force for good through the adoption of corporate social responsibility (CSR) initiatives. CSR involves integrating social and environmental concerns into business operations, going beyond compliance with regulations. Companies can engage in activities such as sustainable sourcing, ethical labour practices, philanthropy, and community engagement. By doing so, they not only contribute positively to society but also enhance their reputation, attract customers, and foster employee loyalty.
· B Corp certification
B Corp accreditation offers several benefits, including demonstrating a company's commitment to social and environmental impact, joining a community of purpose-driven businesses for collaboration and learning, attracting and retaining talent seeking meaningful work, accessing impact investment and funding opportunities, differentiating in the market by appealing to conscious consumers, improving business practices and performance, and providing legal protection for mission-driven companies. Overall, B Corp accreditation enhances brand reputation, stakeholder relationships, employee engagement, and long-term sustainability, while positioning businesses as leaders in responsible and ethical practices.
· Diversity and Inclusion
Promoting diversity and inclusion is a key ethical standard for businesses. This involves creating a workplace that respects and values individuals regardless of their gender, race, ethnicity, age, sexual orientation, or disability. Companies are encouraged to foster inclusive cultures, promote equal opportunities, and eliminate discrimination. Various initiatives, such as the UN Women's Empowerment Principles and the Catalyst Accord, focus on advancing gender equality in the workplace.
· Data Privacy and Cybersecurity
In the digital age, protecting customer data and ensuring cybersecurity have become vital ethical business standards. Businesses are expected to handle personal data responsibly, obtain consent for data collection, and safeguard against data breaches. Compliance with regulations such as the General Data Protection Regulation (GDPR) and adopting international cybersecurity standards like ISO 27001 demonstrate a commitment to data privacy and cybersecurity.
Now - self-aggrandisement alert – I have not selected my list of demonstrably positive business practice initiatives at random. We at Voodoo Park are proud to say that we factor every one of them into both our strategic objective setting and our operational day to day.
This manifests itself in several ways;
· CSR
Voodoo Park runs a charitable Trust whose primary objective is to redress the gender imbalance, anywhere in the World and support female empowerment and development. We contribute a share of our Company profits in order to help like-minded charities deliver projects on the ground
Voodoo Park has introduced a Union to support and advocate on behalf of its entire workforce. This is wholly independent from the Executive and Management teams
We have a documented list of Rights to which our workforce is entitled. These include;
· The right to work anywhere we chose
· The right to prioritise our family and wellbeing over our work
· The right to be treated as well as our customers
· The right to be heard
· B Corps
We are currently undergoing our B Corps Assessment and look forward to our accreditation later this year
· Diversity and Inclusion
We are not only an Equal Opportunities Employer, but we are also a Disability Confident Committed Employer
· Data Privacy and Cybersecurity
Voodoo Park are ISO 27001 (and ISO 9001) certified and practice the highest standards of data security and Diversity and Inclusion
The notion of businesses being a force for the greater good is gaining momentum and we clearly wish to play an integral part in that.
I will leave the last word on this subject to our CEO and Founder.
"We can no longer pretend that business models and practices of the 20th century are fit to meet the challenges of the 21st.
We need a new model for how businesses interact with the world to influence and improve it. A model that acknowledges our challenges, opportunities and obligations. We wanted to make a difference, so we made VDP.”
David Glennie