CSR AND VALUE CREATION
Shareholders, Communities and Governments
CSR Foundation of Ghana’s
Inaugural National Public Lectu...
What is Corporate Social Responsibility?
 Where did it come from?
 How did it get here?
 Why isn’t it?
• Community soci...
Where did it come from?
Globalized world is demanding more of business…
 Global media – The CNNization of the world –
rem...
CSR History – late 1990s to present
Some phenomena

 Growing expectation that business can and should
contribute to socia...
CSR History – late 1990s to present
 ‘Socially conscious’ shareholders
 Social Investment Funds (Socially
responsible in...
United Nations Global Compact
announced by the then UN Secretary-General Kofi Annan in
an address to The World Economic Fo...
CSR in the OLDEN DAYS
Policies &
Good Intentions

Solving Social
Problems
CSR in the OLDEN DAYS (cont)
more than a warm fuzzy issue
Spending isn’t the answer

?Results?

Framework

System
Plan
Par...
CSR: Beyond Beads and Trinkets
What is a company’s social responsibility
throughout the industrialized world and in many developing countries there has
b...
What is CSR
 It’s about organizing business investments,
operations and activities so social value is created
while also ...
Collective Social Responsibility
The Millennium Development Goals
(MDGs) are eight international
development goals that we...
What is Corporate Social Responsibility?
 Why isn’t it
• Community social responsibility
• NGO social responsibility
• Go...
Strategic Social Responsibility
Community

Government
NGOs
Shared
Value &
Responsibility
International
Organizations

Busi...
How to think about CSR systematically
• Frameworks and systematic approaches to
CSR is still an evolving area, despite a l...
Some Key Dimensions to Think About
Type of Activity

Grants and Donations
Community Social & Health
Training and Education...
Some Key Dimensions to Think About
Value Proposition
What Value Gets Created – For Who?
Avoid Zero-Sum situations when pos...
Some Key Dimensions to Think About
Partners
Who/what benefits from success of this initiative?
What sort of partners would...
CSR is about value
creation not Charity
 Value for People
 Value for Communities
 Value for Shareholders
 Value for Go...
Questions, Comments, Suggestions
Wayne Dunn
Professor of Practice in Corporate Social Responsibility
McGill University | I...
CSR and Value Creation: shareholders, communities and governments
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CSR and Value Creation: shareholders, communities and governments

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Keynote Lecture delivered to the 2013 United Nations Global Compact Annual Awards Banquet. The lecture was also the CSR Foundation of Ghana’s Inagural Public Lecture on CSR. It was delivered at the British Council in Accra, Ghana on Sept 13, 2103

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CSR and Value Creation: shareholders, communities and governments

  1. 1. CSR AND VALUE CREATION Shareholders, Communities and Governments CSR Foundation of Ghana’s Inaugural National Public Lecture on CSR United Nations Global Compact Awards Night British Council Auditorium, Accra, Ghana Sept 13, 2013 Wayne Dunn Professor of Practice in Corporate Social Responsibility McGill University Institute for the Study of International Development wayne@waynedunn.com
  2. 2. What is Corporate Social Responsibility?  Where did it come from?  How did it get here?  Why isn’t it? • Community social responsibility • NGO social responsibility • Government social responsibility  Or is it part of all of these? Shared Social Responsibility Creating Shared Value
  3. 3. Where did it come from? Globalized world is demanding more of business…  Global media – The CNNization of the world – remote local issues direct to television screens  Proliferation of NGOs and CBOs – direct, well organized and financed support to communities  Internet and Social Media – direct communications from remote projects to worldwide audience  Global Democratization – increased attention to local issues
  4. 4. CSR History – late 1990s to present Some phenomena  Growing expectation that business can and should contribute to social and community well-being  Emergence of Social License - Local communities and other stakeholders have growing power and influence  Reputational capital is increasingly important
  5. 5. CSR History – late 1990s to present  ‘Socially conscious’ shareholders  Social Investment Funds (Socially responsible investment refers to making investment decisions based on financial returns as well as a company’s social and environmental practices, corporate values and ethics).  The Financial Markets • Dow Jones Sustainability Index • FTSE Sustainability Index www.waynedunn.com;
  6. 6. United Nations Global Compact announced by the then UN Secretary-General Kofi Annan in an address to The World Economic Forum on January 31, 1999, and was officially launched at UN Headquarters in New York on July 26, 2000 “By working together to mobilize sustainable investment in the Least Developed Countries, government, business and civil society give hope and opportunity to the world’s poorest” “lasting and effective answers can only be found if business – working together with other actors including government and civil society– is fully engaged” Kofi Annan
  7. 7. CSR in the OLDEN DAYS Policies & Good Intentions Solving Social Problems
  8. 8. CSR in the OLDEN DAYS (cont) more than a warm fuzzy issue Spending isn’t the answer ?Results? Framework System Plan Partners
  9. 9. CSR: Beyond Beads and Trinkets
  10. 10. What is a company’s social responsibility throughout the industrialized world and in many developing countries there has been a sharp escalation in the social roles corporations are expected to play. Companies are facing new demands to engage in public-private partnerships and are under growing pressure to be accountable not only to shareholders, but also to stakeholders such as employees, consumers, suppliers, local communities, policymakers, and society-at-large. Harvard CSR Initiative “CSR is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well of the local community and society at large” World Business Council on Sustainable Development
  11. 11. What is CSR  It’s about organizing business investments, operations and activities so social value is created while also creating shareholder value.
  12. 12. Collective Social Responsibility The Millennium Development Goals (MDGs) are eight international development goals that were officially established following the Millennium Summit of the United Nations in 2000 All 193 United Nations member states and at least 23 international organizations agreed to achieve these goals by the year 2015
  13. 13. What is Corporate Social Responsibility?  Why isn’t it • Community social responsibility • NGO social responsibility • Government social responsibility  Or is it part of all of these? Shared Social Responsibility Creating Shared Value
  14. 14. Strategic Social Responsibility Community Government NGOs Shared Value & Responsibility International Organizations Business
  15. 15. How to think about CSR systematically • Frameworks and systematic approaches to CSR is still an evolving area, despite a lot of progress over the last 15 years • No one size fits all • CSR programs and activities can be examined along many dimensions
  16. 16. Some Key Dimensions to Think About Type of Activity Grants and Donations Community Social & Health Training and Education Local Institutional Development Local Infrastructure Employment Procurement Local Industries (Oil Palm) Other
  17. 17. Some Key Dimensions to Think About Value Proposition What Value Gets Created – For Who? Avoid Zero-Sum situations when possible Value Sustainability Does the initial investment continue to provide value beyond the investment timeframe Social Value Return on Investment Not every dollar invested in CSR creates the same level of social value
  18. 18. Some Key Dimensions to Think About Partners Who/what benefits from success of this initiative? What sort of partners would fit with this initiative? (if any) What value would they receive? Create? (for project and for company)? Shareholder Value Creation What’s in it for the company?
  19. 19. CSR is about value creation not Charity  Value for People  Value for Communities  Value for Shareholders  Value for Governments CSR is a SHARED RESPONSIBILITY Need to balance interests
  20. 20. Questions, Comments, Suggestions Wayne Dunn Professor of Practice in Corporate Social Responsibility McGill University | Institute for the Study of International Development wayne@waynedunn.com www.csr-exec-ed.com Desk: +1.250.743.7619 Mobile: +1.250.701.6088 Ghana +233 (0)54 110.7974 “Education is not the filling of a pail but the lighting of a fire.” William Butler Yeats
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