The Expected Elements of a Reponsible Business Strategy
An introduction to Business in the Community’s Degrees Integration framework
About this toolkit
Business in the Community’s (BITC) Degrees of Integration: the elements expected in a responsible business strategy toolkit outlines the elements companies should consider when developing their business strategy and implementation approach. This is a starting point for a strategic conversation between BITC members and their relationship manager.
This model is an introductory, summary version of the framework, the full framework is available to members who have a Strategy and Purpose partnership.
The starting point for responsible business
Four broad characteristics define the starting point of an organisation’s approach to responsible business. These are visonary, integrated and challenging. A strategy should also address material issues.
BITC expects to see the following mechanisms covered by a responsible business strategy: leadership, values, stakeholder engagement, employee engagement, collaboration, innovation, governance and metrics.
Monitoring your strategy
Monitoring and communication informs the development of a future strategy and both need to be considered in the overall strategic approach. Metrics include impact measurement, benchmarking, reporting and external communication.
By signing up to BITC’s Strategy and Purpose partnership an adviser can review an organisation’s strategy and assess the degree to which responsible business has been taken into account. Feedback includes a written document that identifies strengths in an approach and provides comments and suggestions on how to take a responsible business strategy to the next level.