GOOD For Business

Channel 4 – Publicly owned means representative of the public 

This week the government announced that they will review the proposed privatisation of Channel 4. The privatisation plans were previously met with resistance from the public. As a publicly owned but commercially funded organisation, C4 occupies the unique position of being able to put public service before profit. As a result, the broadcaster has been able to prioritise funding smaller projects and underrepresented creators, thereby promoting a greater balance between commercial and progressive agendas. The media industry is known for its inaccessibility, so access to creative opportunity outside of private interest is key for continuing to build a more inclusive and progressive broadcasting landscape. 

John Lewis – Purpose before profit 

In response to the cost of living crisis, the John Lewis Partnership has decided to forgo profits in favour of a £50 million support package for their staff. The package includes a one-off £500 support payment to full time staff (a smaller sum for part time workers), a 4% pay increase for entry level employees and free at-work meals over the winter. In the face of uncertain income in the coming months, the move is a bold statement and demonstration of their purpose-led business model.  

Social accountability and social media 

This week, the enquiry into the death of Molly Russell dominated the headlines. The enquiry highlights the dangerous online content she was exposed to, and which was promoted to her by on-line platforms before her death. The case has highlighted the responsibility and accountability of tech companies in safeguarding users – particularly children. In 2021, Facebook released internal research that confirmed long-held public opinion, that social media is particularly harmful to teenagers. However, since that report was released, the issue remains that very little has been done to put necessary protection measures in place. Our understanding of the internet and how it impacts us longer-term, is still largely unknown. However, what we do know is that much like more traditional forms of corporate responsibility, major platforms have a responsibility to protect us from harm, abuse and exploitation. This is more so now, because in a post-pandemic world, we rely on technology more than ever before.   

A four-day week with no loss of pay would save parents thousands of pounds a year in childcare and commuting costs, according to a thinktank that suggests the policy could help to alleviate the cost of living crisis. Read more here

People moving home and customers seeking better service from energy companies are being obstructed by the largest suppliers in a potential breach of their licence obligations. Read more here

Sainsbury’s will be giving away free frozen food at their Boxpark concept store to save surplus food from going to waste and help people save money. Read more here