a space to share thoughts and ideas and to stimulate discussion around the space where business meets society. And to think collectively and creatively about how to create and preserve value at the meeting/collision point where business meets society.
I recently did a short interview on What makes a CSR Strategy strong and thought the transcript below might be interesting. It has a few thoughts and comments along with links to other articles and posts that I have authored.
CSR is all about value. Value for shareholders and society. The closer a CSR Strategy sticks to that principle the stronger the strategy is. And, the more value it produces for both
What makes a CSR strategy strong?
Alignment of interests. Sharing of value created and responsibility for creating it.
The real key to a successful strategy is that it drives a process that will consistently and systematically identify, nurture and develop those areas where shareholder and stakeholder interests can align. It must also do it in a way that doesn’t put all the responsibility on the company. If there is to be shared value there must be shared responsibility for it to be sustainable
What do most companies consider business-wise and customer-wise when creating a CSR strategy?
I’m hesitant to comment on what most consider. I’d rather comment on what I think they should consider.
Unfortunately, companies often take a paternalistic approach and execute CSR in a way that suggests it is about giving and transferring value from the company to other stakeholders rather than finding the spaces where collective self-interest can create aligned interests and giving shareholders and stakeholders direct and personal motivation
CSR = creating, capturing & sharing value in the space where business meets society. Here is a link to a blog post that expands on this a bithttp://bit.ly/ZGpHJN
What are main challenges to creating a strong CSR strategy?
Stakeholder attitudes and beliefs that CSR is something that should be done to and for them, rather than something they have responsibility to help create and do
Company attitudes and beliefs that CSR is something they do to and for stakeholders, rather than a way to create value for shareholders and stakeholders