Building a Social Good Business Is Necessary for Success Based on HOVE SGI's Review Of Over 1200 Businesses

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Dr. Cindy J Lin, Co-Founder of HOVE Social Good Intelligence (SGI), details the top business benefits of building a socially responsible and sustainable business based on evaluating over 1200 purpose driven businesses and brands.

five advantages of a social good brand

The five best advantages of a social good business.

"Data and real company examples continue to show that when we create social good practices in our economy and businesses, it leads to a positive future, thriving economy and improved human well-being"

Dr. Cindy J Lin, CEO/Co-Founder of HOVE Social Good Intelligence defines what it means to be a social good business based on her company’s assessment of over 1200 socially responsible businesses and evaluation of over 100 social good certifications or labels.

After two years of developing the Social Good Optimization Data Assessment Tool, a unique social impact evaluation model, Dr. Lin and her team determined and identified the core attributes of a socially responsible business doing good. Beyond the concepts of corporate social responsibility, Dr. Lin and her team reviewed and navigated the large quantity of information on sustainability, certifications, and social impact that’s available for consumers and businesses.

The result is a streamlined social impact assessment tool focused on identifying the positive activities that businesses adopt -- those activities that go above and beyond conventional business practices. And in turn, the goal is to show collectively that these concrete practices result in real positive benefits for people, community and the planet.

Defined as a social good business, these purpose-driven enterprises, small to large, inherently incorporate three primary principles: (1) incorporates social responsibility in its DNA (i.e. mission, vision, strategy, business design); (2) connects its purpose-driven goals into concrete practices (e.g. gives back to the community, adopts sustainable practices, partners with organizations working directly to address a social challenge); and (3) translates its positive social or environmental impact into metrics and/or impact stories transparently.

Furthermore, Dr. Lin shares the competitive business benefits of a social good business: more loyal and committed employees and customers, reduced costs, and business resilience in the face of changing policies and regulations. She states, “data and real company examples continue to show that when we create social good practices in our economy and businesses, it leads to a positive future, thriving economy and improved human well-being.”

For details, see Why Build a Social Good Business: Sustainable Actions Matter More Than Ever

Dr. Cindy J Lin is the founder and CEO of HOVE Social Good Intelligence. She previously worked at the US Environmental Protection Agency solving tough environmental and scientific problems encountered on national and international projects.

HOVE Social Good Intelligence, a unique social impact focused data analytics company, created a consumer focused platform, Hey Social Good. Hey Social Good is committed to helping consumers easily find and rank the best companies and products that are helping the planet and people thrive. Social good medals are awarded to socially conscious companies who give back and practice sustainable business operations.

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