February 2013 VolunteerMatch Best Practice Network Webinar - Delivering Business Value from Corporate Citizenship
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The presentation from the February 2013 VolunteerMatch Best Practice Network webinar session "Delivering Business Value from Corporate Citizenship". With guest speakers Katherine Smith, executive director of the Boston College Center for Corporate Citizenship and Tabatha Stephens, manager of corporate contributions and volunteers at FedEx.
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February 2013 VolunteerMatch Best Practice Network Webinar - Delivering Business Value from Corporate Citizenship
- 1. Delivering Business Value from Corporate Citizenship: Findings & Highlights from the 2012 State of Corporate Citizenship Report Katherine Smith Tabatha Stephens Executive Director Manager Boston College Center for Corporate Citizenshp Corporate Contributions and (BCCCC) Volunteers FedEx February 12, 2013
- 2. How To Ask Questions • Type questions into the box on the right side of the your screen • Submit via Twitter to @VM_Solutions using “#VMbpn” • We will pose questions at the end of the presentation • A copy of the sides will be circulated after the event 2
- 3. The State of Corporate Citizenship 2012
- 4. Center history • 28 years in operation • 400+ corporations as members (almost 10,000 individuals) • Based in Carroll School of Management at Boston College Diversity Knowledge Service of thought and as a catalyst to members and to perspective society foundation in Rigorous practical research
- 5. State of Corporate Citizenship • Put into field with GlobeScan • Consumer tracking question with Nielsen • 750 Executive respondents • 13 Industry sectors • Examined executive perspectives on multiple dimensions of corporate citizenship: • Relationship of citizenship initiatives to business outcomes • Commitment to citizenship investments • Differences across sectors • What activities are projected to be most important in the future • Alignment of consumer and executive perspectives on issues • …and much more
- 6. Our conversation today • The context for corporate citizenship • Achieve results for business and for society
- 7. Our conversation today • The context for corporate citizenship • Higher stakes • Greater risk • More sources of risk
- 8. Consumption
- 9. Waste
- 11. Population Source: Joel Cohen, Big Think Floating University
- 12. Our conversation today • Achieving results for business and society • Selection • Integration • Duration
- 13. Consumer & executive perspectives U.S. Executives North America Asia Pacific 75% Europe Middle East, Africa & Pakistan 65% Latin America 55% 45% 35% 25% Nielsen Socially Conscious Consumer data tracked with BC Center for Corporate Citizenship State of Corporate Citizenship
- 14. Does it pay to be good? Negative Inconclusive CFP Halo Negative Inconclusive + Correlation CFP Halo + Effect 28 14 38 15 61 Revealed Corporate 3rd party Responsive Environmental misdeeds policies audits Reporting performance 30 28 20 17 Screened Observers Philanthropy Proactive Mutual perceptions Reporting Fund It doesn’t hurt and it might just help. Source: Margolis, Elfenbein, Walsh 2009 working paper
- 15. Selection
- 16. Integration
- 17. Integration
- 18. FY13 Citizenship Global Poverty Project
- 19. FY13 Citizenship Machu Picchu Pinterest
- 20. 2013 Citizenship Ben the Bear
- 21. Integration
- 22. Duration One year Three years Six or more years
- 23. Our conversation today • Achieving results for business and society • Selection • Integration • Duration …are critical to managing successfully the context for corporate citizenship • Higher stakes • Greater risk • More sources of risk • New opportunities
- 24. Q&A • Type questions into the box on the right side of the your screen • Submit via Twitter to @VM_Solutions using “#VMbpn” Katherine Smith Tabatha Stephens Manager Executive Director Corporate Contributions and Boston College Center for Corporate Citizenshp Volunteers (BCCCC) FedEx 24
- 25. Stay Informed Blog: www.VolunteeringIsCSR.org Twitter: @VM_Solutions Newsletter: Monthly „Good Companies‟ newsletter - Sign up on the blog! 25
Editor's Notes
- So lets take a minute to look at our business environment. This is part of our macro context.
- Lots of ways to acquire knowledge: Experience, Observation, Study,. I hope you will engage in all when you are here, but I want to spend just a few minutes on some research that is so important for us to understand. 2) Meta Analysis-- 214 empirical studies/251 documented effects controlled for industry, size and riskSeeking to understand how corporate citizenship investments (environmental or social) affect financial performance of the firm. Does CC diminish shareholder value as Friedman asserted? NO Small effect sizes, but strongly supported by the data. (i) Disclosure—voluntary and proactive announcements or reports(ii) Environment—quantifiable measures of actual impact on the environment (CDP, toxic release inventory, fines, energy savings)(iii) Philanthropy(iv) Self-reported social performance—reports elicited by researcher, analyst, or media(v) Observers perceptions—Fortune most admired companies and other indices(vi) Third-party Audits—KLD Index, Dow Sustainability Index, US department of labor(vii) Screened mutual funds (viii) Corporate Policies—apartheid, Sullivan principles, UN Global compact(ix) Revealed misdeeds“Does it Pay to be Good? A Meta-analysis and Redirection of Research on the Relationship Between Corporate Social and Financial Performance”, Joshua D. Margolis, Hillary Anger Elfenbein, James P. Walsh.Takeaway: Milton Friedman’s (1970) concern about corporate social performance causing diminished value to shareholders may be misplaced: companies are not overtly penalized for social investments. Penalties only accrue to companies that do wrong and perhaps only if they are caught. An analysis of more than 200 studies also suggests that companies might benefit from communicating more about their good works.Methodology: In 2009, researchers from Harvard, the University of Michigan, and Berkeley analyzed 192 effects revealed in 214 frequently cited studies, conducted over the past 35 years, of the link between CSP and CFP. Measures of financial performance were divided into accounting-based measures of financial returns (e.g. return on assets, return on equity) and market-based measures of financial value (e.g. stock returns, market/book value ratio.)
- Integration: important because it increases the likelihood that you will achieve important biz objectives
- Integration: important because it increases the likelihood that you will achieve important biz objectives