How Viacom can use Corporate Social Responsibility (CSR) to change the MMA landscape forever.11/5/2015
Josh Connor
“Viacom has a long legacy of promoting social, political and environmental activism, especially among young people. By raising awareness around today’s most pressing issues and providing resources and information, we can inspire others to make a difference, igniting grassroots activism.” –Viacom Viacommunity 2015 Review In the course of U.S. history, there has often times appeared to be little to no question who executives and the respective boards of publically traded companies have served: the shareholders. After all, countless Business School graduates leave their respective curriculums feeling stamped with a fiduciary responsibility to maximize the profitability for investing shareholders. In recent years however, more and more publically traded companies like Viacom (who owns a 97% controlling interest in Bellator MMA) are serving not only just their shareholders, but also moving towards achieving corporate social responsibility (CSR). With inclusion of CSR, many shareholders demand their publically traded companies take into account social conscience in conjunction with the quest for profits. What results is what is known as pursuit of the triple bottom line where there is equitable corporate concern given to profit, people, and the planet. With Viacom’s ownership of Bellator MMA and its long history of tackling difficult issues, challenging inequality, and giving a voice to those who need it, it is time they stand up once and for all and permanently change a historically exploitive industry forever: Mixed Martial Arts (MMA). For many MMA consumers, the question as to why the disruptive change to the MMA industry must start with Viacom through Bellator MMA and not the UFC will be at the forefront of their minds. The answer is that the UFC, as a private company, has simply entrenched itself in an exploitative mindset of its fighters for countless years where profits simply come first and social consciousness in regard to its roster of current and former fighters is an afterthought. As a private company, the UFC leadership can largely come and go as they please in their decisions without the same ramifications or accountability that a publically traded company like Viacom may face if similar tactics were utilized in Bellator MMA. Moreover, according to its own omission in its 2014 Viacommunity Annual Review, Viacom “sees our role as a pioneer of social change” and “behaving with integrity wherever and however we operate” as well as “leveraging our brands as a megaphone to amplify critical causes, spreading their impact and enabling others to make an even bigger impact.” Having spearheaded campaigns for social inclusion, acceptance, and tolerance in addition to countless other causes, Viacom has the organization and structure to inspire effective action and measureable results within the MMA community that have the greatest potential for longer term sustainability. Without question, the hire of new Bellator CEO Scott Coker in 2014 certainly helped enhance secondary markets for MMA fighters who have largely been victims of monopsony over time with the UFC and other MMA fight promotions. The respectful treatment of Bellator fighters and use of positive organizational culture by Coker has also created a viable alternative for many MMA fighters entering free agency as well. Still, there remains much work to be done. Across the MMA landscape as a whole, there is significant reforms needed to offset years upon years of exploitative, predatory tactics of using asymmetric information against MMA fighters which left them at a disadvantage to promoters. Improvements to fighter pay, health care insurance, brain injury prevention and awareness, a fighter association or union, financial planning, as well as a host of other fighter specific MMA issues are all important social concerns to Bellator MMA consumers which Viacom has the expertise and resources at its disposal to create positive change for the entire MMA industry. As a company that prides itself on being social disruptors, leading industry peers in tackling difficult issues, and turning moments into movements, Viacom through Bellator MMA has an opportunity to change the MMA landscape for the better. By raising the overall treatment and benefits of its fighters under the Bellator MMA banner to a whole new level, Viacom will also raise the overall expectations and equitable treatment of fighters across the entire MMA market to include the UFC. If Viacom can step up to the plate and mobilize this much needed initiative, it will find an entire community of grassroots Bellator MMA and UFC supporters in full backing of their efforts and a stronger bond with its diverse MMA audience resulting as a byproduct. It's time for Viacom’s to approach the critical issues of the day in Mixed Martial Arts in the same cutting-edge manner they approach creating content. |
Proudly Sponsored By:
If you would like to sponsor the site or write with us, email: [email protected]
Archives
March 2016
|