Companies have obligations to their shareholders, but for Q2 2020 Financial Results Report, Tim Cook made it clear that his corporate responsibility also requires obligations to the community.
A pandemic tends to be the great storyteller. It highlights truths that have been glossed over. Tim Cook’s opening remarks underscored the truth that businesses, especially the large and wealthy, must recognize and act, as he put it, “the broader obligations to the community.”
What does it mean? For example, companies exploit the resources of the planet for profit. But we all share the same planet. Companies therefore have the responsibility to mitigate or even improve the impact of their actions. Apple takes this responsibility seriously.
In the opening remarks by CEO Cook, along the same lines, he described a wide range of measures taken by Apple to meet its obligations in the face of a serious health threat. For example, making a million face masks a week for healthcare workers. Charitable donations. COVID-19 self-assessment applications. Contact tracking API (with Google). Continue to pay salaries to retail store employees while its stores are closed. And, quoting Cook:
“In this difficult environment, our users are reliant on Apple products to stay connected, informed, creative and productive. We feel motivated and inspired not only to continue to meet these needs in an innovative way, but to continue to give back to support the global response, from the tens of millions of masks and custom face masks that we have sent to professionals. from around the world. world, to the millions we donated to organizations like Global Citizen and America’s Food Fund. “
This corporate value stands in stark contrast to some who, it seems, felt that it was entirely appropriate to abuse and exploit their customers. Because it was profitable and easy to live with.
If there was a cynical belief that Apple’s legacy of personal health, the environment and customer privacy and security was nothing but a ruse for its fine profits, this vanity is now put to the test. naked as a lie during this potentially deadly pandemic.
Again, we see the stark contrast to some other companies that have been slow to protect their workers in overcrowded factories and warehouses. Substantial sums were also available to them, but their late actions and focus on profits did not fulfill their obligations to the community well.
Even more difficult times could be coming for Apple, but it was great to see how Apple used its sense of corporate bonds to calibrate its course through a major global crisis. More than ever, we respect and admire the leadership of Tim Cook.