A conversation with Alice Korngold, President and CEO of Korngold Consulting
Key Takeaway: “In this current situation we face with the pandemic, it’s becoming clear that companies can only maximize value and growth in the context of a healthy and vibrant community.”
In this episode of the Purpose Inc. podcast, host Michael Young spoke with Alice Korngold, president and CEO of Korngold Consulting. Alice leads a New York City based strategy and advisory services group that works with boards, executive teams and multinational corporations on a wide range of issues. A major focus of Alice’s work is on matching executives at multinational corporations with not-for-profit boards
Alice has authored several books centered on the idea of corporations as key players on the global stage of creating sustainability and social impact. Her book A Better World, Inc.: How Companies Profit by Solving Global Problems Governments Cannot highlights how companies have the vast resources to solve some of our most challenging social, environmental and economic problems because of their human, financial and technological resources.
Alice discusses how companies can find innovative solutions to today’s problems if they do three things well:
- Focus on stakeholder engagement, understanding the needs and interests of employees, customers and communities
- Collaborate with NGOs and nonprofit organizations who bring expertise credibility and relationships with society, including remote and vulnerable communities
- Build a board of directors with people from diverse backgrounds and perspectives
When asked if companies can be counted upon to follow sustainable principles, Alice said that societies (governments, nonprofits and media) must work together to hold companies accountable as good stewards of social impact. Alice emphasized that investors have already begun to understand sustainability in the context of risk and help companies effectively manage those issues. Alice talked about a number of excellent organizations that have created measurement methodologies that emphasize transparency; and in light of the current pandemic, it is increasingly harder for companies to hide their practices.
Listen to the full interview with Alice here: