GSK Recognized as #6 for “Changing the World”
Can businesses really thrive and succeed in doing right by people? It always seemed so but but now the proof is in the pudding. Fortune Magazine, one of the top financial publications, and FSG, a non-profit social consulting firm, have recognized GSK as #6 in the world as a company that’s doing well by doing good for other people.
For Fortune’s first “Change the World” list, they found 51 companies that have made a sizable impact on major global, social, or environmental problems as part of their competitive strategy.
GSK is recognized in particular for their work in vaccines (the development of Mosquirix™, the world’s 1st malaria vaccine,) their pricing and access strategy in the developing world, and their adjuvant technology, which is the most advanced in the industry. Click here to read GSK's profile.
“This is a dual honor because not only is this an important external validation of our business model, but it reflects the dedication and talent of so many of our employees who embody our mission and values,” said Moncef Slaoui, Chairman of Vaccines, GSK.
According to Fortune, the list is not meant to be a ranking of the overall “goodness” of companies or of their “social responsibility.” Big corporations are complex operations that affect the world in myriad ways. The goal was to shine a spotlight on instances where companies are doing good as part of their profit-making strategy, and to shed new light on the power of capitalism to improve the human condition.
To assemble the list, the editors of Fortune and FSG reached out to dozens of business, academic, and nonprofit experts around the world, asking for their recommendations. Fortune and a joint team from FSG and the Shared Value Initiative then vetted more than 200 nominees. In their evaluation, they considered four criteria:
- the degree of business innovation involved;
- the measurable impact at scale on an important social challenge;
- the contribution of the shared-value activities to the company’s profitability and competitive advantage; and
- the significance of the shared value effort to the overall business.
A team of journalists from Fortune then further vetted each of the nominees and reported on their impact. The final list of 51 was selected and ranked by the editors of Fortune based on the magazine’s own reporting and by the analysis provided.
