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The interdependence between business and society is not new, but is becoming increasingly complex.
The challenge of responding to changes in social values and expectations is increasing, but most companies' response is based on thinking and tools they developed over a decade ago when the Corporate and Social Responsibility (CSR) movement was at its peak. We believe that now a new approach to social responsibility is required.
Social responsibility is no longer just about environmental good deeds and sustainability. At i2a, we apply a much broader definition which focuses on the interdependence of business and society and the ability of business to identify innovative business opportunities through its response to shifting social expectations. Our concept is summarised in our Strategic Model for Social Responsibility which defines the opportunity space for business.
Social responsibility is no longer just about environmental good deeds and sustainability.
We have selected some examples of companies who are leading exponents of different aspects of social responsibility. Starbucks and Ikea provide examples of leading practice in responsible supply chain and supplier management. Novartis is leading the way in paying a living wage to employees worldwide. Patagonia provides an example of a company effectively implementing social responsibility policy and communicating this to its consumers. Typically they all do three things well:
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Engage in the debate so that they understand changes in social values and spot opportunities for innovation
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Comply with legal and regulatory requirements, and their own internally defined standards, by managing activities and impacts within their sphere of control effectively
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Respond to social expectations through innovative business models that leverage core capabilities in activities within their sphere of influence.
If you would like to talk more about our work in this area, please contact us by email at talk@i2a.co.uk or call us on
+44 (0) 20 7260 2930.
Your help has been invaluable and a key contributory factor to the progress made in this area, which I think is well ahead of where we hoped to be at this time."
Formula 1
