Strategic Corporate Social Responsibility Plan
Progressive Models of CSR
The following three models have been developed and used over the past ten years to solve the world's most complex societal issues. Core competency CSR is one that the researcher used in creating a healthcare CSR strategy and plan.
Collective Impact
Collective Impact is a forward-thinking, innovative framework used to tackle complex issues facing society today. It stems from the idea and belief that no single government department, policy, organization, or program can solve the increasingly complex problems in society. Rather, collective impact encourages all sectors – business, nonprofit, and government – to join forces and resources and work together.
Shared Value
Shared value, a term coined by Michael Porter, a Harvard Business School professor, is all about shareholder interest and the self-interest of the company. It means, “pursuing business initiatives that improve social and environmental conditions while earning the company a profit and conferring a competitive advantage” (Kramer, 2015, n.p.). The powerful way to create economic value for a firm is to create societal benefit.
> In the video to the left, Michael Porter provides a shared value alternative to the concept of fair trade.
Core Competency CSR
Core competency CSR is a strategy that means aligning a company’s CSR initiatives and strategy with the firm’s values, skills, objectives, market focus, etc. Rather than supporting causes chosen at random or about which leadership are passionate, firms should “seek causes and social and environmental strategies for which they own part of the solution” (McElhaney, 2009, p. 33).
> In the video to the left, Wilmington University instructor Dr. Greg Warren explains business core competencies.