Present AND Future

I had the opportunity this morning to hear Terry Mazany, the President and CEO of The Chicago Community Trust, speak about the work that The Chicago Community Trust is doing.  He raised many interesting and salient issues, but there was one in particular that I wanted to discuss today.

Mr. Mazany indicated that one of the challenges, and responsibilities, of community trusts and foundations is to provide civic leadership for today paired with creating a legacy for the future.  His point was that while community foundations and trusts have an obligation to address the community needs in front of them right now, 50 years from now, people will also have needs.  Addressing those needs, by building an endowment and planning for the long-term impacts, is no less important.

I would argue that the same dual focus is important for businesses, regardless of whether they are for-profit or not.  Obviously, a company that doesn't survive today, won't be around tomorrow to provide solutions to their customers needs and wants.  Too often, however, companies focus solely on this month's receipts or the current quarter's stock price, and end up making moves that provide short term gains and long term damage.  The challenge for any organization is keeping that delicate balance between the present and the future.

I also think that there is value for businesses to think in terms of their legacy.  Not for profits and politicians do this naturally, but business ventures don't often engage in this conversation, at least not out loud!  The value of acknowledging and caring about your organization's legacy is that you will tend to pay attention to the long term impacts of the decisions you make today.  A manufacturer who is paying attention to their legacy, will be less likely to dump their toxic waste in the nearby stream, even if it is cheaper.  An employer is more likely to treat her employees fairly and pay them a competitive wage if she is looking to developing a team that will carry the company's values forward into the next generation.

A company, or an organization, or a community foundation or trust, that successfully cares for their present AND their future stands to have a good chance of having both be bright and positive!