Typically, a balance sheet lists the financial key figures, which show just one thing: the assets of a company. What if, however, the balance sheet of a company, association, institution, etc. were to be set up in such a way that it would provide information about the extent to which a contribution has been made to the common good thanks to the economic activities of a company?
This is precisely the goal of the Common Good Balance Sheet, an instrument derived from the "common good economy”. The aim is to bring about a change in society so as to in turn bring about a more responsible, cooperative way of living together. Success should not be measured primarily by financial indicators, but also by their contribution to the common good.
The Wilder Kaiser Tourist Board has drawn up precisely such a Common Good Balance Sheet in 2019, making it the first tourist board to take this step. Along with other businesses and institutions in the Kufstein district, the tourist board has tackled this task as part of a joint, long-term strategy. In doing so, the Common Good Balance Sheet offers a 360-degree view of social, ecological and economic responsibility and provides a valuable basis for strategic decisions at a company.
The Common Good Matrix can be used to document the strengths of a company and, with all contact groups/stakeholders, to identify the next steps in achieving on behalf of the common good. This strategy is based on Common Good Economy’s four pillars of values: human dignity, solidarity and justice, ecological sustainability and transparency, and joint-decision making.
Together with companies from various industries, the Common Good Economy project was launched in the district of Kufstein in 2018. The Tourismusverband Wilder Kaiser tourist board, under the leadership of Managing Director Lukas Krösslhuber, was also involved in this project. The Wilder Kaiser region’s Common Good Balance Sheet was finalised in autumn 2019 after a labour-intensive process.
The following wrap-up interview will provide you with exciting insights into the working process. Learn more about the project’s key learnings.