Steps to using Metrics and Measures for successful Corporate Social Responsibility Planning

Written By Steps To Faculty Published July 21st, 2010

The term corporate social responsibility entails responsibility of corporations to build sustainable businesses with healthy economies, environments, and communities. To achieve this corporations invest in building social infrastructure, create synergy of ethics, and increase the expectations from businesses on global basis. That is why corporate social responsibility has become an important activities of the corporations on national as well on global basis.YOu business depends upon you having a corporate social responsibility plan in place because your customers judge your firm on this. Let’s see what you can do to determine if your existing plan is effective.

Step 1 Measure CSR

The most important metric for CSR is the employment of commercial success performance indicators, called KPIs that can be used to measure environmental performance. KPIs will highlight the achievements at a glance and promote the corporate social responsibility with degree of success.

Step 2 Combine metrics

Corporate social responsibility (CSR) should be combined with value based management (VBM) by using activate based costing (ABC) and balance scorecard for maximization of shareholders’ value.

Step 3 Review the law

Compliance of national laws and regulations as well as application of international standards will promote a sense for furthering social responsibilities among corporations, particularly multinationals.

Step 4 Determine commitment

The responsible leadership is another metric that helps in securing the commitment of management in developing and achieving corporate social responsibilities. Leadership qualities are attained by practicing the virtues of leadership over a period of time.

Step 5 Think sustainability

Planning and implementation of CSR will determine the sustainability approach of a corporation to execute its corporate social responsibilities with ease and with a sense of satisfaction.

Remember, metrics can guide you in the right direction. Please visit stepsto.com for more great business advice.


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