How can organisations identify a targeted CSR strategy? Start by getting input from employees, customers, and the community (aka ‘stakeholders’).
How can organisations measure against the SDGs and improve their impact? Start by understanding how your stakeholders perceive your efforts and the challenges they are experiencing with sustainable practices.
How can organisations communicate their impact? By complementing traditional storytelling with graphs and flow diagrams that summarise the views of their stakeholders.
SmileCo. wants to improve their corporate culture. They post a link to a third-party evaluation using their Facebook company profile. Upon clicking, their loyal customers are asked, “What issues / challenges around sustainable practices require the most attention?” After getting input from 327 customers across the state, SmileCo. learns that most of their market is concerned about waste and the depletion of resources and the environment.
Based on other findings in the dataset, SmileCo. learns about the positive benefits of circular economy practices. They then implement an aggressive approach to be zero waste by 2025 and facilitate sustainable consumption education in the markets they serve. They monitor the impact of their effort by periodically asking their employees, customers, and community members a few questions related to the SDG Targets. This process enables them to continually improve their internal and external operations, along with identifying new, innovative ways to market their products, which are now aligned to their CSR strategy and select SDG Targets.
To build trust and demonstrate transparency, SmileCo. communicate their findings using informative graphs and flow diagram that clearly show their effort to reduce circular economy challenges and enhance sustainable consumption benefits. They present these findings on Facebook, on LinkedIn, during presentations, in the Annual Report, and at expos, tradeshows, and at circular economy tradeshows. Their alignment, effort, and impact are clearly understood by everyone.
As a result, SmileCo. experiences a significant return on investment by retaining their original customers, growing their market share, and penetrating new markets through their radical and disruptive product offerings, which were previously unavailable across the state.
Third i Management’s Insight into Impact process aligns #CSR with the #SDGs by measuring and monitoring impact on communities, stakeholder groups, and those most influenced by environmental degradation or preservation.