I’m honored to serve as the Chair of the Corporate Responsibility Officers Association and even prouder to have the efforts of my 62,000 colleagues at MGM Resorts recognized in the area of being responsible stewards in the communities in which we operate, as a Responsible CEO of the Year.
I’m asked why corporate responsibility matters. After all, while we are a global company, much of our operations are in Las Vegas (the “what happens, there stays there” city).
In my view, behaving responsibly is enlightened self-interest. It’s doing the things that will ensure the business is sustainable in the broadest sense. It’s about doing the things that help to ensure the long term success of the enterprise for the benefit of everyone---customers, suppliers, employees, stockholders, communities. As I’ve come to appreciate it over the particular last few years, it is the single most important job of leaders.
In Las Vegas, and in my business, we have been through a period in which a lot of lessons were learned, and I hope never forgotten. The days of short term views and short term successes are just that---short term. In my company, we have earned a second gift of life which is giving us a whole new way to look at life and business….a longer view of how we treat everything---our customers, our suppliers, our community partners, our employees---our earth.
Let me elaborate.
If our customers don’t feel that we are attuned to their needs and expectations for experiences while they stay with us, they may visit us once---but never again.
If our suppliers don’t feel that they are appreciated, they won’t provide us with the materials we need to provide the experiences our guests are seeking.
If our employees don’t feel respected and treated fairly, if they don’t think their company has a good reputation, they’ll leave---or worse not provide the high guest service for which we strive.
If our communities aren’t healthy and thriving, we won’t be able to attract top talent, nor will we be able to attract customers and guests.
If our stockholders aren’t getting a solid, sustainable and predictable return, they’ll take their investments somewhere else.
So, responsible behavior is elemental to the long term success of the business.
When the business succeeds, every one that is depending on it succeeds.