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Ask the Expert: CSR programs should be informed by stakeholder expectations

It is hard to overstate the value of corporate social responsibility (CSR) in today's business environment ...

  • It affects purchase decisions — 66% of consumers will change brands based on a company's sustainability and social responsibility. (Landor)
  • It influences where people choose to work — 76% of millennials will research-a potential employer's environmental and social programs before deciding where to work. (Cone) 
  • It drives investment decisions — More than 80%of mainstream investors consider social responsibility when making investment decisions. (Oxford University)

What constitutes CSR, however, is different from one company to another because an organiza­tion's commitment must reflect its own unique DNA.

A key factor in identifying the right strategy is stakeholder input-finding out what constituents value most and, more importantly, understanding what they expect from an organization.

Engaging stakeholders (e.g., customers, employees, investors, etc.) in meaningful, ongoing dialogue regarding their expectations will ensure that your commitment is always aligned with their interests.

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© 2019 Eric Mower and Associates