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Corporate Responsibility
With global warming and climate change ever in the headlines and the changing state of our economies, businesses must remain competitive in order to survive. Having a clear and well advertised Corporate Responsibility policy is, and will increasingly become, a major competitive advantage. The larger companies have been advertising their green credentials for some time. But the smaller players, and indeed the consumer, are also making life changes to be more ‘responsible’ and these mind sets will change the way business operates.
The majority of FTSE 100 companies now have a corporate responsibility policy. Although there are still the critics out there who think this is an extra burden on business, given the growing public pressure to be green there really is no choice. The two main questions businesses need to ask now are:
a) how do we turn sustainability into a commercial issue and link it to business strategy and
b) how do we develop recognized methods of measuring our efforts against clearly defined numerical targets.
The measurement criteria must be carefully thought out to enable clear reporting of the financial implications of Corporate Responsibility to the global markets. If every company reports in a similar fashion investors will have an easy comparison when looking for new business opportunities.
I am a member of the Cranfield Corporate Responsibility Network (CCRN) which is committed to equipping management with the skills to put Corporate Responsibility at the heart of their success.
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