CSR reporting has grown over the past few years, but the information provided by those reports isn’t always used for strategic advantage. Tying values and measures to a Balanced Scorecard could be the way to make good intentions more profitable
The corporate social responsibility (CSR) movement has been gathering momentum for the past 10 years. This growth has raised questions — how to define the concept, how to measure it, and how to make good on its promises. The Dow Jones Sustainability Index created a commonly accepted definition of CSR: “a business approach that creates long-term shareholder value by embracing opportunities and managing risks deriving from economic, environmental and social developments.” This definition encompasses a broad range of corporate values and concerns, including reputation, transparency, social impact, ethical sourcing, profitability and civil society — the list goes on. As a result of the interdependent nature of CSR, integration of its values remains a challenge for many organizations.
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