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.
Introduction
A formal CSR strategy
Climate change
Reducing our environmental footprint
Making a difference in the community
Measuring business performance
Conclusion
