CORPORATE SOCIAL RESPONSIBILITY

An introduction to utilising and maximising benefit of Corporate Social Responsibility

Zoe Chilton LLB, MSc WMG02/02/12

Introduction

MSc in Engineering Business Management at WMG (grad 2011)

Project with a leading F1 team, investigating CSR and writing their corporate policy

Currently work for the Motorsport Industry Association

Overview

The tricky part.. DefinitionCSRCorporate Governance

Different approaches to CSR CSR and profitability

Relevance to industryEmployee satisfactionThe ‘bottom line’

The future of CSR

So.. Just what does CSR mean?

CSR and Corporate Governance

There is no correct definition…

How to approach CSR Active or Reactive? What type of sustainability?

EnvironmentalSocialEconomic

Stakeholders or shareholders? Appropriateness to your industry and

corporate identity If existing definitions don’t fit, make your

own!

Different approaches to CSRExamples from Motorsport…

Key contributors to a modern sustainable business

How this translates to activities

Social Sustainability:○ Involvement in education○ Social welfare campaigns○ Involvement in the local community○ Global charitable causes

Environmental Sustainability:○ Reducing carbon footprint○ Designing for the environment○ Greening manufacturing processes

Economic Sustainability:○ You are not running a charity! ○ All activities must be economically viable

How CSR contributes to the Bottom Line CSR is highly valued by shareholders

and investors as it often goes hand in hand with good Corporate Governance

Customers like to see good CSR and may choose your product because of it

CSR activities can be used to develop new markets

It is easier to recruit and retain the best employees with a good CSR policy

Now it’s your turn…

Winners and losers of CSR

The future of CSR?Zadek’s Generations of Corporate Responsibility – This shows the evolution of CSR within companies and industry sectors

…But you don’t have to take CSR too seriously. Utilise your core competences and engage in an appropriate way.

Thank you.. Any Questions?