CSR 2.0
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This document discusses the need to reinvent corporate social responsibility (CSR) for the 21st century by transitioning from CSR 1.0 to CSR 2.0. CSR 1.0 is described as outdated and ineffective at addressing major social and environmental challenges due to being incremental, peripheral to core business strategies, and not always economically viable. CSR 2.0 proposes five principles of creativity, scalability, responsiveness, glocality, and circularity to make CSR more transformational. It presents a new holistic model of CSR with four "DNA responsibility bases" of value creation, good governance, societal contribution, and environmental integrity. The document calls for businesses to embrace this new conception of responsible capitalism centered on long-term
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CSR 2.0
- 1. CSR 2.0: Reinventing Corporate Social Responsibility for 21st Century PROF.DR.AUNG TUN THET
- 2. Problem RISE & FALL OF CSR
- 4. CSR Concept not new Evolved over time “Doing Well, Doing Good” 3 Ps (Profit, People, Planet)
- 5. Failure of CSR Three factors Triple Curse
- 6. Curse 1: Incremental CSR Tackling social, environmental and ethical challenges Fail on two counts: 1. Speed 2. Scale
- 7. Curse 1: Incremental CSR Micro-scale Gradual improvements No impact on massive sustainability crises
- 8. Curse 2: Peripheral CSR Lack of top management commitment Peripheral function Obsession with short-term financial measures Culture of greed embedded in DNA
- 9. Curse 3: Uneconomic CSR Need for ‘business case’ Evidence CSR pays ‘Inconvenient truth’ - sometimes pays
- 11. CSR 1.0 Outdated Outmoded Admit failure
- 12. CSR 1.0 Redefine contribution No serious impact on social, environmental and ethical challenges
- 13. CSR 1.0 Beyond outmoded approach as philanthropy or public relations More interactive, stakeholder-driven
- 14. CSR 2.0 EMBRACING THE FUTURE
- 16. Principle 1: Creativity ‘Creative destruction’ “Cannot solve today’s problems with yesterday’s thinking.”
- 17. Principle 1: Creativity Business creativity directed to solving social and environmental problems M-PESA Freeplay’s battery-free wind-up technology Social enterprise or Social business Age of Responsibility
- 18. Principle 2: Scalability Shining pilot projects and best practice examples No vision to transform core business CSR solutions cannot match scale and urgency
- 19. Principle 2: Scalability Not limited to retail sector Financial services - Grameen Bank - from $74 loan in 1974 to $2.5 billion enterprise Tata’s $2,500 Nano, cheap and eco- friendly car
- 20. Principle 3: Responsiveness Uncomfortable Transformative Industry or business part of solution or part of problem
- 21. Principle 3: Responsiveness Greater transparency Exchange platforms - connect directly with beneficiaries via web, tapping ‘long tail of CSR’
- 22. Principle 4: Glocality Global localization ‘Think global, act local’ Local solutions without forsaking universal principles
- 23. Principle 4: Glocality Replaces ‘either/or’ with ‘both/and’ thinking Harmonious society - dynamic productive tension of opposites – Tai Chi of CSR, balancing yin and yang
- 24. Principle 5: Circularity ‘Spaceship economy’ - verything constantly recycle Three basic rules for sustainability: 1. Waste equals food 2. Nature runs off current solar income 3. Nature depends on diversity
- 25. Principle 5: Circularity Replacing product-sales economy with service- lease model Cradle to Cradle aspirations Create buildings like trees produce more energy than they consume Purify own waste water
- 26. Principle 5: Circularity Feeding and replenishing social and human capital Importance of meaning in work and life
- 27. Shifts in CSR 1.0 to CSR 2.0
- 28. Table 2: Shifting CSR Practices
- 29. CSR 2.0 NEW DNA OF BUSINESS
- 30. CSR 2.0 Model Corporate Sustainability and Responsibility’ ‘Sustainability’ (environmental) ‘Responsibility’ (social activist)
- 31. CSR 2.0 Model Like two intertwined strands of DNA Sustainability and responsibility different yet complementary
- 32. CSR 2.0 Model Sustainability - destination - challenges, vision, strategy and goals Responsibility - journey – solutions, responses, management and action
- 33. Corporate Sustainability & Responsibility (New CSR)
- 34. DNA of CSR 2.0 New holistic model of CSR Essence - Four DNA Responsibility Bases 1. Value creation 2. Good governance 3. Societal contribution 4. Environmental integrity
- 35. DNA of CSR 2.0 (Double-Helix Model)
- 36. Value Creation More than financial profitability Goal economic development Beneficial products Inclusive business
- 37. Good Governance Institutional effectiveness as important as social and environmental ideals Transparency - social media and brand or product-linked public databases
- 38. Societal Contribution Philanthropy rightful place Fair labour practices Stakeholder engagement, community participation and supply chain integrity
- 39. Environmental Integrity Maintaining and improving ecosystem sustainability Not gamble with climate change
- 40. CSR 2.0 Purpose of business: Serve society Provision of safe, high quality products and services Enhance wellbeing, without erosion of ecological and community life-support systems
- 41. CSR 2.0 Positive contribution to society Not as marginal afterthought Way of business!
- 42. Evolution from CSR 1.0 to CSR 2.0
- 43. Five actions 1. Re-assess 2. Re-align 3. Re-define 4. Re-design 5. Re-structure
- 44. Embrace Responsible Capitalism Investment Long termism Transparency Full cost accounting Inclusion
- 45. Today Exciting times New model of sustainable business Purpose-inspired business
- 46. Sustainable Future Pick it up Push forward Believe in what we are building New form of business - serves society and sustain planet