Some key strategies that can be used by Companies when implementing CSR policies and practices are –
1. Mission, vision and Values Statement:
CSR deserves a prominent place in a company’s core mission, vision and values statements/ documents, which – (i) state a company’s gals & aspirations, and (ii) provide insight into the company’s values, culture and strategies for achieving its aims.
2. Plans vs Performance: CSR requires an environment where innovation and independent thinking are welcomed. There must be a commitment to close the gap between what the company says it stands for and the reality of its actual performance. Goals and aspirations should be ambitious, but care should be exercised so that the company says what ist means and means what it says.
3. Management Structure:
CSR management system seeks to integrate corporate responsibility concerns into a Company’s values, culture, operations and business decisions at all levels of the organization.
4. Long – term strategic Planning: Companies can incorporate CSR into their long term planning processes, identifying specific goals and measures of progress or requiring CSR impact statements for any major company proposals.
5. General Accountability: In addition to the corporate and divisional social responsibility goal, a Company can address CSR issues in the job descriptions and performance objectives of as many Managers and Employees as possible. Each employee can understand how he / she can contribute to the company’s overall efforts to be socially responsible.
6. Employee Recognition and Rewards: Employees tend to engage in behaviour that is recognized and rewarded and avoid behaviour that is penalized. The system of recruiting, hiring, promoting, compensating and publicly honoring employees should be designed to promote corporate social responsibility.
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