Strategic planning is a process of carefully and thoughtfully aligning the strengths of a company’s business to the opportunities that are available to the company in its chosen business environment. While strategic planning is both a science and an art, it is generally believed that...
Sustainability and corporate social responsibility (CSR) have become mainstays of business activities: the percentage of large global companies professing to practice some form of sustainability and CSR has been steadily increasing, sustainability reporting has become the norm and businesses of all sizes are subject to...
While frameworks and suggestions for implementation of corporate social responsibility (“CSR”) do vary, there is almost no controversy that in order to make informed decisions about the content of a new CSR initiative, or changes to an existing program, the board of directors and members...
Companies often announce their corporate social responsibility (“CSR”) mission statements and commitments with great public fanfare, pledging to proactively contribute to improving social conditions and protecting the environment. While putting the company’s brand and reputation on the line in this way is important, the reality...
Assessment and strategy development are planning stages in the corporate social responsibility (“CSR”) process and the real work begins when the company transitions to making its strategy come alive through action. The first step in that process is the development of CSR commitments, which are...
Companies pursue CSR activities for a variety of reasons including not only contributing to sustainable development and addressing important environmental and social issues but also achieving a competitive advantage that improves their own economic performance and sustainability. Even the largest companies have limited resources and...
Regardless of the specific strategic planning processes for corporate social responsibility (“CSR”) initiatives, companies must be sure that they create adequate controls so that activities carried out in furtherance of the strategic, tactical and operational plans can be monitored and evaluated. This serves several important...
As the company goes through the process of identifying, vetting and approving the CSR objectives and commitments, attention also needs to be paid to translating the policy and the accompanying objectives into operational terms, a process that requires the development of an implementation plan. The...
Companies often announce their corporate social responsibility (“CSR”) mission statements and commitments with great public fanfare, pledging to proactively contribute to improving social conditions and protecting the environment. While putting the company’s brand and reputation on the line in this way is important, the reality...
Woothiff noted that the emergence of sustainability reporting as a common practice of business organizations around the world had led to a focus on the process of setting appropriate sustainability goals and targets upon which the reports could be based. Goals and targets are also...