March 2009 Newsletter           
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In This Issue
Firms Help Themselves with Pro-Bono
Integrating Ethics
Whom Do You Trust?
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Spring Trivia Questions 

Trivia answers can be found below.

1. The idea of Daylight Savings Time was first conceived by this inventor: 

a) Leonardo DaVinci
 
b) Benjamin Franklin
 
c) Thomas Kane
 
d) Eli Whitney

2. Baseball's first spring training session took place when the Cincinnati Red Stockings played the Chicago White Stockings in the year:

a) 1902
 
b) 1895
 
c) 1910
 
d) 1870
 
3. What movie musical features the song "Younger than Springtime?"

a) South Pacific
 
b) Music Man
 
c) Les Miserables
 
d) Annie 
 
4. Where in the world did the classic green salad mix known as "Spring Mix," consisting of arugula, chervil, lamb's lettuce, frissee and other leafy greens, originate?

a) Northern New York
 
b) Sonoma, California
 
c) Sicily, Italy
 
d) The South of France
 
5. True or False: On the first day of spring, otherwise known as the vernal equinox, the hours of daylight and of darkness are equal.
 
Trivia Answers
1. b
2. d
3. a
4. d
5. True
 

 TheVollrathVibe 

Greetings!
 
'Tis the season of warmer days, greener landscapes and, of course, spring training! We hope you are looking forward to the spring season as much as we are at Vollrath Associates!
Firms Help Themselves with Strategic Pro-Bono Partnerships

If there is one bright spot to be found in the seemingly endless stream of bad economic news, it is that the spirit of philanthropy remains strong among businesses of all sizes through pro-bono support for non-profit organizations. However, pro-bono work is too often viewed as something that is done simply because it's "the right thing to do," rather than a strategic business decision.
 
While the motives behind taking on pro-bono work are often based on altruism, it is foolish to forget the business benefits that such a relationship can bring when pro-bono clients are chosen strategically.  Corporations should strive to support causes that align with their target audiences and organizational culture.  This could mean choosing pro-bono clients that complement their current client roster so that possible partnerships can form between those paying and non-paying clients.  It could also mean adopting a "reverse RFP" approach, where companies ask potential pro-bono clients to submit detailed proposals of the work and results that they expect from a corporate partner. 
 
The most valuable investment related to pro-bono alliances is often the time of the company's staff.  And while it's important to have senior oversight of a pro-bono account, firms should take advantage of the valuable experience it can provide for younger staffers - especially at a time when companies can't afford traditional career-development and employee-training programs. 
 
Pro-bono work will likely continue no matter how bad things get.  Yet, more strategic thinking about the relationship can help make it beneficial to both parties. 
 
Adapted from opinion article by Erica Iacono in PRWEEK, February 9, 2009


Integrating Ethics Into Your Organization
 

Ethics remains an essential element of any responsible company.  Here are some important points to keep in mind to help integrate ethics and values into your organization.
 

1.Understand that the intensified focus on value and ethics is not
   a passing fad.  It's here to stay - encouraged by an around-the-
   clock news cycle and latest reputation-defining tools such as
   blogs.  Like it or not, transparency owns the future.  Values
   and ethics are bedrock issues for organizations of all types
   and sizes.
 
2. Live your code of ethics.  Make sure behaviors match words. 
    Be very clear about what constitutes unacceptable behavior. 
    Go beyond compliance - aspire to integrity.
 
3. Understand that it's all about the T-word - trust - and that trust
    is bankable.  Share the best and worst practices of others with
    your management team.  Hold yourself accountable and
    expect others to do the same.
 
4. Reputation starts with your own employees and builds up from
    there.  Drive the ethics conversation deep into your
    organization.  Use real-life scenarios to demonstrate the
    importance of every employee doing the right things.  Empower
    every employee to talk about what your company stands for.
 
5. Emphasize problem prevention.  Listen to the signals of
    potential trouble and take action.  Protect those who come
    forward.  Be an organization committed to constant
    improvement and provide a range of training that supports this
    goal.
 
Article by Davis Young for The Public Relations Strategist, Winter, 2009 Edition
  

 
Whom Do You Trust?

 
A survey released this fiscal quarter conducted on behalf of two leading graduate business schools shows that just 22% of U.S. adults trust the country's financial system, and only 12% trust the stock market.
 
Researchers at the Kellogg School of Management at Northwestern University in Evanston, Ill., and the University of Chicago Booth School of Business commissioned the survey as part of their effort to establish the Financial Trust index, a project that measures public trust in financial systems every quarter. 
 
The Financial Trust index gives ratings on a scale of one to five, with five being the highest score.  In the inaugural survey, respondents gave an average trust rating of 2.95 to banks, followed by bankers at 2.60, the government at 2.37, large corporations at 2.20, brokers at 2.19 and the stock market at 2.13.
 
When asked what caused the financial crisis of 2008, 50% of survey respondents said it was managers' greed and poor corporate governance, 32% percent blamed lack of corporate oversight or government regulation, 11% cited excessive government intervention and 7% chalked up the problems to a global economic imbalance.
 
Adapted from Voice of the American Shareholder column by Kate Fitzgerald in the April, 2009 edition of BetterInvesting Magazine.  
 
Quote of the Month
 
 
"Tough times don't last, tough people do, remember?
 
~Gregory Peck 
 
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