Virgin Group founder Sir Richard Branson is known for taking on challenges big and small, but the mega marketer says leaders from firms of all sizes can help solve some of the most striking problems facing society.
Speaking Tuesday at CME Group’s annual Global Financial Leadership Conference in Naples, Fla., Branson said many social, environmental or technological problems could be overcome if every company focused its efforts on solving one or two problems.
“Responsible capitalism is trying to think of ways in which you can invest proceeds from your company into ventures that benefit the environment,” Branson explained.
Branson suggested that smaller companies could tackle local problems while slightly bigger companies target national issues and larger corporations battle international challenges.
“Some companies do this very well while others don’t think it is a role they need to play. It’s satisfying. It’s great for the morale of the staff. I think the staff will work a bit harder because of it and it needn’t cost the company a lot of money,” Branson said.
Virgin Unite, the nonprofit foundation of Branson’s Virgin Group, works to revolutionize the way businesses, government and the social sector work together.