• Corporate Social Responsibility (CSR) strategy

Corporate Social Responsibility (CSR) strategy

A Corporate Social Responsibility (CSR) strategy is a corporate statement that defines the values and standards by which a company operates. A company’s success depends on the strength of its relationships with its stakeholders, so by setting out its values and defining how it conducts business, the company addresses the issues of most concern.

To be effective, a corporate social responsibility (CSR) strategy needs:

  • senior management commitment to ensure the strategy isn’t implemented in an ad hoc fashion 
  • embedding in management processes so that risk can be identified and managed, and brand and reputation protected 
  •  building into public policies that enable a company to translate its corporate values into commitments and responsibilities, and define its objectives and targets, which are used to manage the issues in question.

Policies

A Policy is a statement of commitment and intent regarding a company’s performance on a specific aspect of corporate social responsibility (CSR).

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Risk Management

Increasingly leading companies are expanding and adapting their risk management approaches to incorporate relevant aspects of corporate social responsibility (CSR) risk and opportunity.

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Corporate Values

Corporate values are high level statement(s) that provide an understanding of ‘what the company stands for’, ‘what you are prepared to be responsible for’ and ‘what your future goals and objectives for the business are’.

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See also