General CSR Best Practices

 

Below are eight CSR strategy best practices determined by David Grayson and Jane Nelson, authors of Corporate Responsibility Coalitions: the Past, Present, and Future for Sustainable Capitalism.

 

Responsible Business Manifesto

 

• Build corporate responsibility into the business purpose and strategy.

 

• Ensure effective board oversight and governance of the company’s commitment to corporate responsibility.

 

• Review the management skills and perspectives the company needs with new corporate responsibility strategy.

 

• Ensure investor relations departments are able to confidently explain how the corporate responsibility strategy is integral to long-term value creation.

 

• Build sustainability into R&D, innovation, and new business development strategies so that CSR is leading to new services, access to new or underserved markets, and collectively leads to business transformation.

 

• Assess the company’s most environmental, social, and governance risks, opportunities, and impacts. Mitigate the negative and maximize the positive.

 

• Report publicly on the company’s performance against CSR priorities.

 

• Ensure close functional and operational alignment between dedicated CSR function and other business units rather than operating in isolation. Build a committee representing multiple business functions to drive CSR strategy.

 

 

Grayson, D., & Nelson, J. (2013). Corporate Social Responsibility: The Past, Present, and Future of Alliances for Sustainable Capitalism. Stanford, CA: Stanford University Press.