What BP could teach you about social media smarts Home » Editor's Comment, Training An interesting new ranking arrived in my in-box Thursday morning grading the most social-savvy FTSE 100 companies. In the top 10 were plenty of brands you’d expect – Marks and Spencer, Burberry, Unilever and Intercontinental Hotels. Also making the cut was Big Oil. Improbably, both BP and Royal Dutch Shell had cracked the top 6 of the FTSE 100 Social Media Index.
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IBM study highlights the commercial benefits of CSR : greentelecomlive A new study by IBM Institute for Business Value finds that corporations can gain a competitive advantage over rivals as well as develop new revenue streams by adopting corporate social responsibility practices. “A growing body of evidence asserts that corporations can do well by doing good,” the authors of the report, George Pohle and Jeff Hittner wrote. “Well-known companies have already proven that they can differentiate their brands and reputations as well as their products and services if they take responsibility for the well-being of the societies and environments in which they operate. Corporate social responsibility (CSR) Corporate social responsibility (CSR) promotes a vision of business accountability to a wide range of stakeholders, besides shareholders and investors. Key areas of concern are environmental protection and the wellbeing of employees, the community and civil society in general, both now and in the future. The concept of CSR is underpinned by the idea that corporations can no longer act as isolated economic entities operating in detachment from broader society. Traditional views about competitiveness, survival and profitability are being swept away. Some of the drivers pushing business towards CSR include:
rporate Social Responsibility does more harm than good The current period of financial turmoil has – as on previous occasions – led to considerable speculation and projection by nervous enterprise leaders, confused politicians and interested advocates as to the correct conduct and purpose of business. The last time this occurred was in response to the economic downturn of the early 1990s. This led, at the time, to the articulation of a presumed need for greater corporate social responsibility – or CSR – as articulated in the 1995 RSA Inquiry, ‘Tomorrow’s Company: the role of business in a changing world’. Notably though, many of the original sponsors and supporters of that endeavour – many of whom appeared to endorse what was to become the New Labour agenda of demanding more targets and procedural audits, as well as greater dialogue and inclusion – are no longer around. But maybe that is because being a good, responsible company that cares about people and the planet, as well a profits, was not what CSR was really about in the first place.
4 examples of corporate social responsibility done right Here at Socialbrite, we’re always looking for sterling examples of how the corporate sector is contributing in genuine ways to the social good. Those bridges between the for-profit and nonprofit/social good sectors are becoming increasingly vital. So I was jazzed to see the presentation by Beth Kanter and Kami Huyse of Zoetica yesterday at NewComm Forum in San Mateo, Calif., on what they’re calling “lethal generosity” (a term from Shel Israel’s “Twitterville”). The discussion provided some clarity around the difference between corporate social responsibility, cause marketing and what the Zoetica folks call lethal generosity: “when a corporation applies its core competencies to advance social change in a way that contributes to business results and gives it a competitive advantage.” Molson Coors & responsible drinking
How to Evaluate Corporate Social Responsibility The relationship between business interests and the community has often been awkward, as there is often a natural tension between profit and social impact. However, in today’s world the case for putting corporate social responsibility high on the business agenda has never been stronger. The real question is how it can be done in a way that aligns the objectives of shareholders with the needs of the community. Where companies tend to struggle is when they have to balance issues of economic growth, jobs and political interests with activities that impose significant, longer-term costs on the community. For example, the row between the gaming industry and legislators is a flash point which highlights the tension between gaming profits and the social cost of gambling addiction.
CSR Policy Good CSR policies drive corporate change. With well defined objectives and measurable targets, your CSR policy will provide the foundation for steps towards running a more sustainable and ethical business. The process of writing a CSR policy begins with an assessment of every aspect of your business and its operations. We look at your organisation's impacts on employees, suppliers, clients, and communities. Corporate social responsibility The term "corporate social responsibility" became popular in the 1960s and has remained a term used indiscriminately by many to cover legal and moral responsibility more narrowly construed. Proponents argue that corporations increase long term profits by operating with a CSR perspective, while critics argue that CSR distracts from business' economic role. A 2000 study compared existing econometric studies of the relationship between social and financial performance, concluding that the contradictory results of previous studies reporting positive, negative, and neutral financial impact, were due to flawed empirical analysis and claimed when the study is properly specified, CSR has a neutral impact on financial outcomes. Critics questioned the "lofty" and sometimes "unrealistic expectations" in CSR. or that CSR is merely window-dressing, or an attempt to pre-empt the role of governments as a watchdog over powerful multinational corporations. Definition
ISO Social Responsibility MAY 2011: ECOLOGIA's Handbook for Implementers of ISO 26000 ECOLOGIA has prepared this 33-page Handbook to meet the needs of small and medium sized businesses, who want to improve their impacts on their communities through developing their corporate social responsibility activities. In Summer 2011, ECOLOGIA will be working with a limited number of businesses in Vermont and in China, using the Handbook. The Handbook includes: Canada launches CSR website for extractive industries TORONTO (miningweekly.com) – The Canadian Institute of Mining, Metallurgy and Petroleum (CIM), in partnership with the government and other stakeholders, has set up a website to help mining, oil and gas companies based in the country and operating abroad meet their social and environmental responsibilities. “This new website will be a one-stop shop with the latest information on corporate social responsibility rules, laws and best practices,” said Canadian Minister of International Trade and Minister for the Asia-Pacific Gateway Stockwell Day. “It will also feature timely, practical information and advice on foreign countries, local networks and relevant experiences of Canadian companies, civil society and other stakeholders operating abroad,” he said in a statement. The site is hosted by the CIM and was developed in consultation with the federal government, industry, civil society, academia, indigenous representatives and expert practitioners. Edited by: Liezel Hill
Mining, People and the Environment - Corporate Social Responsibility (CSR) This page lists all articles relating to Corporate Social Responsibility (CSR). Bookmark this page or subscribe to the RSS feed to see new articles as they are added. Central Asia Metals’ chief executive Nick Clarke tells MPE why CSR is serious business for his company Full story... CSR: Relationship building The mining industry is learning that relationships with communities are fundamental to success Full story... Russia’s NLMK boosts social spending The future of sustainability reporting will be plural, bespoke and continuous It is universally agreed that large companies should somehow report on non-financial matters: last year more than 3,000 did so by means of a corporate responsibility (CR) or sustainable development (SD) report. But ask the questions "why?" and "how?" and things become less clear. Are they intended to tell shareholders about the fuzzier types of risk that lie over the horizon? Or should they be an honest disclosure to civil society of the company's global footprint?
Four Reasons NGOs and Non-Profits Should Publish Sustainability Reports « Back to Home Page Last week I earned my certification in the Global Reporting Initiative the most recognized standard for sustainability reporting. (Ed. note: through ISOS and Triple Pundit) To date, large international companies including Coca-Cola, Nestle, Sunoco and GE have been the primary users of the guidelines. Sadly, non-profits and NGOs are yet to jump on the sustainability reporting bandwagon. In fact, of the nearly 500 companies listed on the GRI reports list for 2010, only 11 are in the non-profit sector (and NONE of those are in the United States).