Hello Tomorrow - formulating a corporate social responsibility strategy

his Case Study investigates the importance of companies demonstrating a strong commitment to corporate social responsibility (CSR). Stakeholders expect companies to take the needs of the environment and community into account when formulating business practice. An investigation on how to measure the effectiveness of a CSR strategy occurs. Examples of Genesis’s commitment to CSR programs and initiatives are illustrated.

As a result of carefully reading this Case Study, students should be able to:

• Explain the benefits a business can expect by adopting formal CSR programs 
• Discuss why it is important for a business to engage with the communities they operate in 
• Provide examples of how Genesis has addressed the issue of climate change and on limiting their environmental footprint
• Outline key performance indicators to measure the effectiveness of a CSR strategy.

Introduction

Genesis Energy, a State-Owned Enterprise (SOE), is New Zealand's largest energy retailer and third largest electricity generator.

A formal CSR strategy

Corporate social responsibility has become more important to employees and stakeholders of all organisations.

Climate change

Climate change has become an issue of importance to all members of the community.

Reducing our environmental footprint

If Genesis Energy was to reduce its environmental footprint, change was required.

Making a difference in the community

One of the key values that drive Genesis Energy is how they treat their customers and respective communities.

Measuring business performance

Many businesses claim to be strong supporters of corporate social responsibility.

Conclusion

Genesis Energy is a big resource user. Fortunately, they are also a leader in corporate social responsibility strategies.