After reading about and discussing the trajectory of modern day businesses, my perspective on the future progression of companies has definitely changed. Prior to this class, I somewhat put socially-conscious companies and for-profit companies in separate buckets. However, I’m learning that this is definitely not the case. You hardly hear of startups these days that do not incorporate some facet of corporate responsibility. More now than ever, consumers are dedicated to supporting companies that back causes they are passionate about. This trend cannot be underestimated in terms of the driving effect consumers have on the actions of businesses. In the next 20 years, I think this trend will continue and the effect will be noticeable. Corporate America essentially controls the country and if the large companies begin to integrate these positive developments into their business models, serious change will take place. I think it is very possible that many existing large companies, that are not currently following this model, will begin to lose market share to industry disruptors. As a result, companies that do not make the adjustment will begin to wither out or begin to adjust their ways in order to compete.
The biggest threat to this movement is if these values begin to deteriorate amongst people, which is definitely a possibility. In my opinion, if this way of thought becomes fully popularized in the near future, it will last in perpetuity. However, if people’s stance on the matter continues to fluctuate, a step in the wrong direction may occur. A large reason for taking this class is that I hope to start a company that focuses on sustainability or a social cause that I am passionate about. There is a great opportunity to be an innovative company that overall leaves a positive footprint on a society. I really enjoyed researching and listening to the class talk about companies that are following this trend. PassivDom, the company our group researched, is a prime example of this trend. PassivDom creates sustainable off-the-grid homes that run via solar energy. I definitely plan to follow the company going forward and I viewed the exercise as a great way to start thinking about other fields that can be innovated in a similar fashion. I am looking forward to initiating an idea with our group and developing it throughout the semester.