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Corporate Social Responsibility and the Bottom Line

Page history last edited by Anonymous 2 yrs ago
Our August 9 topic was Corporate Social Responsibility and the Bottom Line. 
In this conversation, we brought the 'doing good while doing well' question to the foreground and spoke candidly about how to ensure that what businesses are doing for our communities is also good for their bottom line. Each panelist brought a different perspective of how they and their organization are focused on balancing their obligations to their people and their communities and their obligations to their partners, investors, and other corporate stakeholders. Our esteemed panel include:
  • Moderator Theresa Wilson, Partner, Lighthouse Blue
  • Panelist Brenda Hendricksen, AMD
  • Panelist Tracy Meersman, EMC
  • Panelist Joni Podolsky, Director of Community Programs, The Entrepreneurs' Foundation
  • Panelist Kathy Wheeler, Senior Manager, Global Community Involvement, Cadence
Below are notes from the conversation, and we invite your questions, comments and insights at http://fountainblue.pbwiki.com.

 

The importance of corporate social responsibility
  • Historically, companies have moved from just being philanthropists and benefactors to becoming active partners in the community, providing everything from co-program development, to active volunteerism from corporate executives and staff members, to providing space and services to partner community organizations.
  • Companies that actively participate in the local community and proactively participate as global citizens are better perceived by the partners, customers, staff, etc.,
  • Companies that earn high marks on social responsibility have measurably better employee retention rates, a great benefit to the bottom line.
  • Companies that are active partners in the community are more likely to get public official support at the local, state and federal levels, which is very important when issues such as import/export legislation, traffic/zoning questions, etc., arise. Resolving these types of issues directly or indirectly also impact the bottom line.
An integrated social responsibility program (courtesy of Joni Podolsky, The Entrepreneurs' Foundation, JPodolsky@efbayarea.org)
  • There are two converging directions for creating an integrated social responsibility program: a Grassroots approach and a Compliance approach. See description and chart below.
  • The grassroots approach can lead to employee relations where employees decide what they're passionate about supporting in the community, strategic planning in partnership with community organizations, and even to strategic grant-making.
  • The compliance approach can move to employee relations and services (addressing the harassment and other policy-oriented compliance issues around employees), governance and ethics questions and issues, and then to transparency to all stakeholders.
  • Contact Joni Podolsky with your questions and thoughts as she develops and expands her theory on creating an integrated corporate social responsibility program.
Factors that impact the success of corporate social responsibility programs:
  • Companies are able to articulate core values and model business behavior that reflects those values, they can do well while doing good, benefiting investors, customers, partners, employees as well as other stakeholders. Example: AMD's core value of people first, products and profits will follow
  • Companies that proactively look for the intersects between community needs and business goals are more likely to succeed with their corporate social responsibility program.
  • Companies that partner with their employees to support issues and causes they're interested in, those that are in alignment with corporate goals, are more likely to succeed.
  • Social responsibility cannot be legislated beyond the current and general anti-discrimination and environmental responsibility policies. Through senior executive leadership, companies scoring high on social responsibility are defining and articulate corporate values, values which executives and staff and use when making critical business decisions.
 
Examples of what you can do to encourage social responsibility at your organization
  • Use corporate intranet to provide info about how to easily get involved in the community, partnering with HR
  • Junior Achievement/National Semiconductor model, you stay at your desk, but kids come in.
  • Adopt a family program
  • Bowlathon for Junior Achievement
  • Host off-sites for nonprofits
  • Add more socially conscious investments to 401K
  • Ask managers to do team building exercises
  • Combine company celebrations with volunteer places
  • Shelter Networks - Holiday wishes are $25/person
Resources:
Other Resources:
  • You might be interested in attending this event as well:
Event Topic: TAKE ACTION ON CORPORATE SOCIAL RESPONSIBILITY
Sponsoring Group: SBODN
Date and Time: Friday, October 19 from 8:30 – 5 p.m.
Location: Sun Microsystems Auditorium in Santa Clara, CA
Cost: Early Registration by August 31st is $165.
  • Contact Theresa Wilson of Lighthouse Blue if you're interested in hearing a presentation on 'Ten reasons businesses get involved in the community'. meringo4@yahoo.com
  • Contact Joni Podolsky to find out more about the Entrepreneurs' Foundation and how they help early and later stage companies develop and implement their corporate social responsibility plans. JPodolsky@efbayarea.org

 

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