The Future of Corporate and Social Responsibility …And the ultimate business value
Corporate and Social Responsibility
You can have the greatest strategy in the world but if your vision of the future is wrong you just land up travelling even faster in the wrong direction
CSR Central Issue
Meta-Values
New trend 1: What was bad is becoming good and what was good is becoming suspect Ways of doing things that have worked for decades are looking old fashioned or immoral while other practices that raised questions are becoming totally acceptable
Compliance with every regulation today could put you in prison tomorrow – or at least out of business
Why are the rules changing?
New trend 2 – “Get a life”
Why are people now talking so much about “getting a life”?
New Trend 3 – Increase in work that people do for nothing
Why is volunteering increasing?
How many people on SEP work for nothing for things they believe are important ?
New Trend 4: “Ethical Company” Listings on Stock Exchanges
Ethical Investment Funds
UK Pensions Act -
RISK: In pursuing only shareholder value and bottom-line profit, loose the plot and damage the business OPPORTUNITY: Drive the business on a broader mission, that motivates, inspires and wins consumer as well as community, worker and shareholder approval
Financial institutions talk about
Individuals talk about…
“Building a Better World” The ultimate slogan
Business Case for CSR
Bad news can hit any corporation like a tornado, ripping the guts out of the business, shattering market confidence, scandalising customers and causing outrage in the general public.
A news story can destroy a corporation in a day
Media is interested mainly in revelation
Examples of where a news story has had a major negative impact on business profits / survival ?
Examples of Negative News Impact
Invent the worst possible headline you can imagine appearing in the press about your own organisation
What do all the stories have in common ?
Nestle – 48 hours of crisis
Shell and Greenpeace
Food: The new tobacco?
Food Company CSR Risk Management
What Companies Can Do
“Music company sues teenager for thousands of dollars for downloading music”
Ciproxacillin
Drug Companies and Patents
Who Cares Wins
Cause-related Marketing
Growing Bottom Line by Caring
US Survey
£50.4 million was raised in 2002 by 66 businesses benefiting 50 charities and good causes through 81 Cause Related Marketing programmes
Tesco in UK and Stop and Shop in US
Proctor and Gamble
Cadburys
Invent the best possible headline you can imagine appearing in the press about your own organisation
Connect with all the passions people have and they will follow you to the ends of the earth, buy your products and services with pride, sell them to others by word of mouth, and work for you for next to nothing
Author: Dr Patrick Dixon
Business School presentation on corporate and social responsibility
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