Jul 21, — That pairing of terms elicits strong reactions, usually falling into roughly three camps: The "salvation" camp, who welcome Walmart using its market muscle as a "bully pulpit" to push sustainability advances from the top down -- which arguably produces more change quicker than grassroots, bottom-up sustainability initiatives.
Here are three basic steps to engage your employees, build social capital, and win stakeholder trust. But there is an irony here. For this strategy to work, it requires the very ingredient it seeks to generate — trust.
CSR is a form of corporate self-regulation.
Businesses promise to obey the law and maintain ethical standards in their activities. They are promising to promote the common good of the communities in which they operate, and proactively curtail any and all functions that may cause harm, whether specifically illegal or not.
The popular maxim of People, Planet and Profit is the triple bottom line. Essentially, the company is taking responsibility for their actions and how they impact: It is a pretty significant commitment.
You cannot prove you are trustworthy by asking people to trust you even more. It would have been impossible for the financial institutions on Wall Street to generate the capital they needed to operate without an infusion of cash from the government.
But still, the conundrum remains — where to find the trust that CSR needs to increase trustworthiness? We hinted that the answer to this problem lies with the employees.
Make your CSR believable. Create and Leverage Social Capital through your employees. It is the employees that make CSR work inside and outside of the company. I recently sat with a Vice President of a major Canadian bank.
On the other hand, it is pretty damn hard to contradict employees who believe their company is making the world a better place. Starbucks does a pretty decent job of mobilizing their workforce as ambassadors of a global CSR strategy.
Muthuri, Jeremy Moon, Dirk Matten. Which brings us to the next step…. Use CSR as a social media platform, rather than a marketing tool. The rise of CSR is inextricably linked to the sweeping popularity of social media. For an accurate and enjoyable synopsis of the major cultural shift social media has introduced, watch the following video: The old media model of one message for the masses invokes exactly the opposite image.
CSR thrives within the reciprocal dialogue of social media. But as a marketing tool, utilizing old methods of communication, it tends toward a surreptitious quality.
Social marketing, social media, and cause marketing are terms that we tend to confuse. Laurie Hix of Brogan and Partners effectively explains these three concepts in a recent blog entry. Simply put, CSR can use social marketing as part of an overall strategy to benefit the public.
For example, promoting recycling or reducing energy use. But social media is a big universe — in which CSR, cause marketing and social marketing all exist.
It would be a mistake to constrict your CSR strategy to fit the limited dimensions of social marketing or cause marketing. Doing this will leave you with a strategy that is distinctly artificial.
You need to let it loose inside the universe of social media.
Because CSR is all about trust.How does Wal-mart show corporate social responsibility in terms of labor conditions, human rights, fair trade, and the environment?
3. What actions can a multinational corporation take that would make globalization a positive development for the global economy? In November of last year, Wake Up Wal-Mart, a UCFW-sponsored group critical of the retailer, formed a national association, called the Wal-Mart Workers of America, in an attempt to organize Wal-Mart workers, albeit without forming a union.
Global Responsibility Global Responsibility Report. Walmart’s sustainability journey began more than 10 years ago when we set ambitious goals to be powered by % renewable energy, to create zero waste and to sell products that sustain people and the environment.
Walmart’s Food Stamp Scam Explained in One Easy Chart Walmart, the nation’s most profitable corporation, may also be the greatest beneficiary of the taxpayer-funded Supplemental Nutrition Assistance Program (SNAP), commonly referred to as food stamps.
How Walmart Is Changing China. as the Chongqing scandal shows, Walmart’s supply chain—or any other, for that matter—is hardly foolproof. and Business for Social Responsibility.
The 3 Basic Steps To Create Trust Through Corporate Social Responsibility If business wants to regain the public’s trust, they’re going to have to be trustworthy, and employees are the key.