Companies with strong reputations as corporate citizens are respected for providing value to society in a comprehensive way – through their products and services, their operational excellence, and their support of the community.
As companies face increasing pressure from stakeholders to address complex societal issues, many are developing programs and initiatives with ambitious social impact goals, but often, without the requisite structure to ensure the programs are effective. Continue reading
When President Trump recently announced that the US was pulling out of the Paris Climate Accord, over 100 major US businesses announced their intention to continue their efforts to address climate change. This is a prime example of how companies are responding to stakeholder pressure by developing new approaches and taking a stronger role in addressing complex social issues. Continue reading
As we enter a new era in US politics, there is increased pressure on companies to build trust with customers, and both deliver and communicate their broader value to society and their employees.
As stated in the Edelman TRUST BAROMETER 2016, “A yawning trust gap is emerging between elite and mass populations. The most profound diﬀerence between the elite and the broader populations is found in their attitudes toward business. This skepticism is clearly manifested in the perception of speciﬁc industries, in particular the ﬁnancial services sector where there is a gap of more than 20 points between the elite’s trust in the sector and the general population’s.”
Companies are developing their corporate citizenship approaches and strategies based on three primary drivers: aligning with their purpose; addressing an operational issue; and/or supporting the communities where they have operations and employees.
Public media and high-profile stories surrounding companies and their corporate citizenship efforts tend to focus on the major programs and initiatives that the company has developed and promoted, such as Unilever’s Sustainable Living commitment (Purpose) or Starbucks’ focus on sourcing products responsibly (Operations).
The approach to community, however, tends to be less developed. Numerous companies state that they support the communities where their employees live and work, but with employees scattered around the globe in possibly hundreds of locations, companies struggle to develop an approach that effectively meets the needs of their various stakeholders in all of their localities.
Companies experience an increasing pressure to address critical issues, as well as communicate the activities and impact of the company in the communities where it operates, even in the most rural locations. As a result, there is a greater need for companies to develop an approach that addresses the issues and concerns of those stakeholders. Continue reading
Over the years of working extensively with countless corporations, TCC Group has developed a framework, “Successful Corporate Citizenship – What Sets Leading Companies Apart”, for identifying the key elements of building an effective corporate citizenship approach. TCC’s Director of Corporate Services, Tom Knowlton, lays out the four elements of this framework: Continue reading