July 29, 2008
Corporate Social Responsibility Programs
This morning a long time Aplicor customer asked me for the net costs incurred when implementing the Aplicor GREEN initiative or if I was aware of other similar information so that he could evaluate the costs involved for implementing his own corporate social responsibility program. The good news for my well intentioned customer and others who may be considering similar initiatives, is that the impetus and cost basis behind corporate social responsibility programs (CSRs) have changed dramatically over the last 20 years and no longer needs to be thought of as only a cost-based model.
Many CSRs originated in the prior decades as a means to mitigate legal risk and exposure. However, today's CSRs can be redirected away from risk avoidance and toward customer alignment and business development efforts. By directing social actions toward causes which employees, customers, partners, industry practitioners and/or other constituents find meaningful, CSRs can play a part in brand building, customer communications and even new customer acquisitions.
A challenge to many is determining what types of social programs your customers or other stakeholders find meaningful. A 2008 study on this topic by IBM's Institute for Business Value discovered that while two-thirds of business leaders focus CSR programs to create revenue streams, less than a quarter of the business leaders actually understood the types of social programs their customers found relevant or worthwhile. The study also noted that despite this gap, companies which integrate CSR programs with customer empathy gain long term results and clear business benefits. The study's results illustrated that over half of the 250 business leaders stated that their CSR programs provided them an advantage over their top competitors. As well stated by the Economist, "the simple solution is that business should concentrate on the sweet spot where corporate initiatives are good for profits and welfare."
The quick method to align your CSR program with customer concerns and motivations is too simply ask your customers for their opinions. It's been my experience that customers are not only not shy to share their feelings but will elaborate to great detail and in the process form a new basis for your customer relationship. As with any technical project, implementing a CSR program should include early and broad involvement from across the organization. Creating a CSR program is an initiative that can generate enthusiasm from across the company is an opportunity to rally participants from all levels. Strategic CSR programs must also be a part of corporate culture and integrated to the company's vision, operations and decision making.
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Posted by Chuck Schaeffer on July 29, 2008 in Organizational Framework
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