Rev. Brian J. Shanley, O.P., President St. John's University-New York | St. John's University-New York
Rev. Brian J. Shanley, O.P., President St. John's University-New York | St. John's University-New York
Timothy L. Keiningham, Ph.D., a professor in the Department of Marketing at The Peter J. Tobin College of Business, is advocating for a new approach to corporate responsibility that integrates social values into business strategies. His latest paper, titled “Social Profit Orientation: Lessons from Organizations Committed to Building a Better World,” co-authored with four other marketing experts, calls for companies to incorporate social causes into their business plans rather than relying solely on traditional charitable contributions.
The concept of Social Profit Orientation (SPO) encourages organizations to integrate sustainable and positive social and environmental impacts into their core mission. Dr. Keiningham and his colleagues conducted interviews with leaders from over 60 for-profit and nonprofit organizations, demonstrating how focusing on both profitability and social impact can drive business sustainability and social development.
“Most businesses have traditionally cared about being good corporate citizens, even if it is only to build credibility with the marketplace,” Dr. Keiningham said. “They have always done charitable work, but it has never been a part of the business.”
He continued by stating that businesses should seek shared value: “How can they build something using the skill sets they have that is profitable and positively contributes to either the planet’s health or the well-being of people?”
Examples cited in the paper include Mastercard's efforts in Africa to promote financial inclusion and Gjensidige's climate sustainability goals aimed at reducing risk exposure while preventing damage.
“Gjensidige proposed a groundbreaking approach to align their risk model with climate action,” Dr. Keiningham explained.
Other cases highlighted are Gundersen Health System's energy production initiatives and IKEA US's commitment to energy independence under CEO Javier Quiñones.
Dr. Keiningham emphasized that aligning company values with social missions can lead to reduced employee turnover, cutting hiring and training costs.
Matt Weingarden, Executive Vice President of Communities and Journals at AMA, expressed support for the research: “There are increasingly complex problems facing society, and it is in the best interest of business to contribute to solving those challenges.”
Dr. Keiningham hopes that increased attention from publications like Marketing News will bring more focus on this philosophy, which aligns with St. John’s Vincentian mission.
“This model is easy for us at St. John’s to understand,” he stated. “It is what we do.”
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