Landlocked, blockaded, and permanently under threat of attack from hostile neighbors, the Republic of Armenia faces a multitude of national security issues. These issues are further perpetuated by a myriad of social concerns relating to health, education, and poverty, and arising from a government wrought with corruption, a business environment dominated by oligarchs, and a serious emigration problem.
But all is not doom and gloom. For the most part, Armenia’s social problems have been tackled by individual- and group-run NGOs, which have done their collective utmost to serve the needs of the country and the people. Coupled with this have been the generous donations of Armenians in Armenia and across the globe who have assisted in funding NGOs in the country. Despite this generosity, however, NGOs face an uphill battle to fund the projects that will help Armenia make the transition from a developing to a developed nation.
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Varant, your article is an excellent introduction to the concept of Corporate Social Responsibility in Armenia, and how companies all over the world are paying attention to the economic, environmental, social issues that contribute to the “triple bottom line.” It’s not just about making a profit, although a company does have that fiscal obligation to its shareholders-investors.
On this issue, even Harvard business professor Michael Porter argues that firms showing leadership on environmental and social concerns will have a “competitive advantage.” I’m not sure how deeply those principles have penetrated in the former Soviet Union but you cite a few strong examples.
Several local and global companies doing business in Armenia are also supporting the work of Armenia Tree Project, including Synopsys Inc, HSBC Bank Armenia, KPMG Armenia, LTX-Credence Armenia, and Mentor Graphics Development Services. Each company may have its own particular rationale for sponsoring tree planting which extend well beyond marketing, from employee engagement to fighting climate change.
When I met Synopsys VP Rich Goldman in Yerevan, he explained that it’s really an issue of “corporate citizenship,” which I find to be even more meaningful than CSR. In short, the goal is to improve the fabric of the community in which their customers and their employees live.
These are all great examples and we hope to see much more of this kind of leadership as Armenia’s economy grows and becomes more globally interconnected.