CSR why every company needs a joined-up approach Hult Blog

Corporate social responsibility (CSR) is increasingly featuring in strategic planning, as companies recognize that they are well placed to take a lead role in bringing about changes for good. Its a win-win for businesses, as they get to make a positive contribution to society and reassure customers that they understand their social responsibilities at the same time. The world is increasingly interconnected and interdependent, so businesses are ideally placed to meet societys challenges, according to Joanne Lawrence, Professor of Global Business and Society at Hult International Business School and academic advisor to the UN Global Impact. She has pointed out that post-recession, businesses can play a critical role in changing peoples lives forever, particularly with regards to the issue of poverty.  In her article ‘From exploitation to transformation’, Lawrence states: Business, working in collaboration with governments and NGOs, has the potential to create a more inclusive economy and reduce poverty through a market-based approach to development even as it fulfills its own economic, profit-generating role, Lawrence stated. Unilever shows the way forward Over 8,000 businesses have signed up to the UN Global Compact – a set of ten principles that sees  organizations  commit to showing good global citizenship in the areas of human rights,  labor  standards, and environmental protection. [Tweet Over 8,000 businesses have signed up to the UN Global Compact.] Unilever joined the initiative back in 2000 when it first started. Such is the companys commitment to CSR that it has been accredited as GC Advanced, a higher level that means it has adopted and reports on a range of sustainability measures. The business has always been purpose-driven and understands that multinationals cannot solely be concerned with  serving  their shareholders. Its Sustainable Living Plan is a long-term commitment to ending some of the worlds ills, and the  goals are ambitious – by 2020 it wants to double in size, improve the health and wellbeing of one billion people, and halve its environmental impact. CSR and growth go hand-in-hand Paul Polman, CEO of Unilever, is clear about the challenges facing the business when it comes to tackling inequality in a sustainable way. This is why he is such an advocate of the  Hult Prize, as he thinks it is an excellent way to incentivize an increasingly young workforce. Speaking at Hult International Business School’s London campus, Polman said that in todays globalized world, multinationals need leaders that are systemic thinkers that care about society and are able to create order out of that complexity and drive action. He views the size and scale of Unilevers operations — it serves two billion consumers a day across 190 countries —  as an opportunity to make a positive contribution to the sectors it operates in. CSR  also has to be business-driven, in Polmans opinion, and he encourages companies to get involved in new long-term transformational  partnerships with governments and NGOs that are based on solidarity and accountability. Businesses have an advantage: they are usually global, not elected, and take a longer-term view.  We need business leaders that are in touch with society, he stated. Whats great about Unilevers approach is that it doesnt see CSR as a potential hindrance to business growth. Instead, it thinks the two should work in unison. It hopes that by taking small steps — such as increasing access to soap and fresh produce in developing countries, and only using sustainable materials — it can help deliver a great leap forward. But Unilever realizes it cannot save the world on its own, and so it is joining forces with other multinationals. Competitors embrace CSR collaboration By working in close alliance on big sustainability issues, companies can do much more than through individual strategies. Refrigerants, Naturally! is a perfect example of this, as the tie-up between Unilever, Coca-Cola, Pepsi, and Red Bull promotes the sale of refrigeration units free of fluorinated gases (F-gas-free). More importantly, the business-led coalition is also pushing for the creation of a regulatory framework to encourage the use of climate-friendly alternatives and dispel myths about the technical feasibility of the measure. Antoine Azar, chair of Refrigerants, Naturally!, told The Guardian that the idea of doing this together rather than separately is mostly to provide an example of what is possible when companies collaborate. To demonstrate they are practicing what they preach, Coca-Cola and Unilever have installed 1.5 million and 1.2 million F-gas-free refrigeration units respectively across their global operations.  Initiatives of this nature reinforce the widely-held view that CSR should be an important part of any businesss strategy. [Tweet Coca-Cola and Unilever have installed 1.5 million and 1.2 million F-gas-free refrigeration units.] Putting CSR at the heart of business Nowhere is the rise of CSR more apparent than in London, as Heart of the City is encouraging companies to develop CSR strategies. The 700-strong group of responsible business leaders is seeking to highlight the benefits of CSR. According to its latest report, 96 percent of firms that set up a policy in the past 12 months have seen a boost in staff morale, 83 percent have raised their brands profile, and 89 percent have improved employee skills. [Tweet 96 percent of firms that set up a CSR policy have seen a boost in staff morale.] Whether it is formal volunteering time-off policies, waste reduction schemes, or energy consumption best practices, these organizations are making significant commitments for the good of society. As consumers increasingly expect businesses to operate in an ethical and transparent manner, the rise of CSR will continue – a development that everyone should benefit from. But one thing is clear, great leaders are needed if economic value and lasting, positive social change is to be realized. Kickstart your career with Hults undergraduate business school. To find out more, take a look at our blog Going beyond business: Introducing our undergraduate curriculum. Download a brochure or get in touch today to find out how Hult can help you to learn about the business world, the future, and yourself. Related posts Academics Beyond (narrow) business concepts: â€Å"Soft† skills turn out to be critical skills News Building success: Dual Degree students win at USASBE Community How going beyond business at Hult helped me launch my company Admissions Accepted Students Weekend: A weekend to remember Careers Career mapping: How to become an executive in the next 5 years 0 Thought leadership How to prepare for an uncertain future in a world of AI Instagram Hult Rotation offers you a chance to study in a truly global way. Our rotation program allows you to study and be immersed in some of the finest cities in the world. 📠¸: @jasminmanzano . Hult Rotation offers you a chance to study in a truly global way. Our rotation program allows you to study and be immersed in some of the finest cities in the world. 📠¸: @jasminmanzano . Each year, Hult seeks to enroll a talented and ambitious incoming class from all over the world. We look for diverse students with a wide range of experiences, perspectives, and interests—students who will thrive in our unique educational atmosphere. Are you ready for a truly global experience? 📠¸: @iambrunadiniz . Each year, Hult seeks to enroll a talented and ambitious incoming class from all over the world. We look for diverse students with a wide range of experiences, perspectives, and interests—students who will thrive in our unique educational atmosphere. Are you ready for a truly global experience? 📠¸: @iambrunadiniz . We’re excited to start 2020 on a ranking high! Hult is proud to have been placed #28 in Poets Quants 2020 rankings for Best Undergraduate Business Schools in the US. Taking a huge leap of 32 places from our 2019 position, we’re also very happy to have secured top positions in key categories like: life-changing experience, practicality of the degree, and global immersion. . With five global campuses, a student body of over 130 nationalities, and a learn-by-doing approach—Hult offers a student experience like no other. . We’re excited to start 2020 on a ranking high! Hult is proud to have been placed #28 in Poets Quants 2020 rankings for Best Undergraduate Business Schools in the US. Taking a huge leap of 32 places from our 2019 position, we’re also very happy to have secured top positions in key categories like: life-changing experience, practicality of the degree, and global immersion. . With five global campuses, a student body of over 130 nationalities, and a learn-by-doing approach—Hult offers a student experience like no other. . â€Å"I’m from an engineering background and needed a whole new skill set for the industry I wanted to switch to. I learned a lot about myself and how I deal with being out of my comfort zone. I learned both soft and hard skills, from how to work in very diverse teams to key accounting metrics and strategy. I was surprised by how weak I was at certain tasks in English or how strong I actually was in other areas. Hult gave me opportunities to try new things and meet people from places I never thought I would have friends. . My internship experiences gave me the chance to broaden my view of different cultures and different companies. I had the opportunity to work and live with people whose values differed from people in my home country. I thought that this would be difficult, but it gave me the chance to reflect on my own values and assess if they were a result of my home country environment or if they were intrinsically mine. . Diederick ter Kulve (@diederick.terkulve) Netherlands Masters in International Business . â€Å"I’m from an engineering background and needed a whole new skill set for the industry I wanted to switch to. I learned a lot about myself and how I deal with being out of my comfort zone. I learned both soft and hard skills, from how to work in very diverse teams to key accounting metrics and strategy. I was surprised by how weak I was at certain tasks in English or how strong I actually was in other areas. Hult gave me opportunities to try new things and meet people from places I never thought I would have friends. . My internship experiences gave me the chance to broaden my view of different cultures and different companies. I had the opportunity to work and live with people whose values differed from people in my home country. I thought that this would be difficult, but it gave me the chance to reflect on my own values and assess if they were a result of my home country environment or if they were intrinsically mine. . Diederick ter Kulve (@diederick.terkulve) Netherlands Masters in International Business . Say a big hello to our Bachelor of Business Administration program cover star, Elisa Orus Plana âÅ" ¨ . â€Å"I’m excited for the future—especially that I cant predict whats going to happen. Maybe Ill end up in Mexico working for a trading company or maybe in Africa, developing my own business. Everything is possible, and the options are constantly changing. I love the idea that Im never going to be stuck doing the same job until the end of my life if I dont want it to be like this. . Hult really supports me and my ambitions and truly believes that we deserve to be considered as professionals as well as students. Here, I get to express not just my opinions but all elements of myself. From my creative side with the Fashion Society to my finance and business sides in Trading Club and the Management Consulting Club. We get a different type of learning here. Not just essential knowledge and theory, but practical skills and mindset. The school is always evolving. We’re encouraged to innovate and to always look for new ways of doing traditional things. We learn how to be more confident and become aware of how we can impact our environment. The school aims to help you become a better version of yourself and to stand out from the crowd.â€Å" . Elisa Orus Plana French Bachelor of Business Administration Class of 2021 Say a big hello to our Bachelor of Business Administration program cover star, Elisa Orus Plana âÅ" ¨ . â€Å"I’m excited for the future—especially that I cant predict whats going to happen. Maybe Ill end up in Mexico working for a trading company or maybe in Africa, developing my own business. Everything is possible, and the options are constantly changing. I love the idea that Im never going to be stuck doing the same job until the end of my life if I dont want it to be like this. . Hult really supports me and my ambitions and truly believes that we deserve to be considered as professionals as well as students. Here, I get to express not just my opinions but all elements of myself. From my creative side with the Fashion Society to my finance and business sides in Trading Club and the Management Consulting Club. We get a different type of learning here. Not just essential knowledge and theory, but practical skills and mindset. The school is always evolving. We’re encouraged to innovate and to always look for new ways of doing traditional things. We learn how to be more confident and become aware of how we can impact our environment. The school aims to help you become a better version of yourself and to stand out from the crowd.â€Å" . Elisa Orus Plana French Bachelor of Business Administration Class of 2021"> During the final days of 2019, you probably reflected on what you’ve accomplished this year—and even this decade—and what you’d like to achieve in 2020. Let us know in the comments below. During the final days of 2019, you probably reflected on what you’ve accomplished this year—and even this decade—and what you’d like to achieve in 2020. Let us know in the comments below. â€Å"The first time we did group work on the program, I went head-to-head with a colleague. It taught me a lot about how I see people, how people see me, and how conflict can be resolved in a kind and productive way. The best feedback you get, when delivered constructively, is the most critical because it really feeds into how you lead. I’ve completely reversed my leadership style—the result is so much richer and more powerful when you lead from behind and lead with strength. . Studying in tandem with working, whilst challenging, gave me the perfect platform to directly apply learning concepts into my business environment, the competitive landscape, and the real-estate industry as a whole. When I started the program, I was very happy in my corporate role. But my courage and aspirations grew to the point that I took on a whole new direction. Having my career coach, Joanna, as a sounding board allowed me to really be strategic and get to know myself. She coached me thro ugh all the interviews, the research, and the questions. It went in parallel with what I was doing academically and after six months everything just clicked. . I went into the EMBA knowing I had nothing to lose and I’ve come out with everything. Great strength, global friends, amazing learning, mentors from professors, a job I love, and the knowledge that I can set my mind to achieve anything and with the right support and resources I’ll get there.† . Kashani Wijetunga British, New Zealand Sri Lankan Associate Director Senior Strategy Consultant CBRE EMBA Class of 2019 . â€Å"The first time we did group work on the program, I went head-to-head with a colleague. It taught me a lot about how I see people, how people see me, and how conflict can be resolved in a kind and productive way. The best feedback you get, when delivered constructively, is the most critical because it really feeds into how you lead. I’ve completely reversed my leadership style—the result is so much richer and more powerful when you lead from behind and lead with strength. . Studying in tandem with working, whilst challenging, gave me the perfect platform to directly apply learning concepts into my business environment, the competitive landscape, and the real-estate industry as a whole. When I started the program, I was very happy in my corporate role. But my courage and aspirations grew to the point that I took on a whole new direction. Having my career coach, Joanna, as a sounding board allowed me to really be strategic and get to know myself. She coached me thro ugh all the interviews, the research, and the questions. It went in parallel with what I was doing academically and after six months everything just clicked. . I went into the EMBA knowing I had nothing to lose and I’ve come out with everything. Great strength, global friends, amazing learning, mentors from professors, a job I love, and the knowledge that I can set my mind to achieve anything and with the right support and resources I’ll get there.† . Kashani Wijetunga British, New Zealand Sri Lankan Associate Director Senior Strategy Consultant CBRE EMBA Class of 2019 . â€Å"It was now or never. I knew that I’d have likely stayed in my neighborhood for years to come if I didn’t take this opportunity. I’d not lived or studied outside of the U.S. before. So I left my job as a global strategist at an advertising agency and moved halfway around the world. I’ve come back a more culturally aware, well-versed person. I’ve realized that everything is a learning experience and an opportunity for growth. Ill definitely carry this mindset with me into the future. Technology and social media allow us to be different people in several places at once. Im excited to see how I can establish myself in whatever city Ill be lucky enough to call home and still maintain deep connections with people all over the world. I’m inspired by my classmates every day. Hearing some of their life stories and how getting this degree fits into their greater mission has been very humbling. My biggest challenge has been finding the ‘right’ path for me. There have been rooms Ive felt like I shouldnt be in, but now Im proud to feel as though I truly belong, wherever I am.† . Dwayne Logan, Jnr. American MBA Class of 2019 . â€Å"It was now or never. I knew that I’d have likely stayed in my neighborhood for years to come if I didn’t take this opportunity. I’d not lived or studied outside of the U.S. before. So I left my job as a global strategist at an advertising agency and moved halfway around the world. I’ve come back a more culturally aware, well-versed person. I’ve realized that everything is a learning experience and an opportunity for growth. Ill definitely carry this mindset with me into the future. Technology and social media allow us to be different people in several places at once. Im excited to see how I can establish myself in whatever city Ill be lucky enough to call home and still maintain deep connections with people all over the world. I’m inspired by my classmates every day. Hearing some of their life stories and how getting this degree fits into their greater mission has been very humbling. My biggest challenge has been finding the ‘right’ path for me. There have been rooms Ive felt like I shouldnt be in, but now Im proud to feel as though I truly belong, wherever I am.† . Dwayne Logan, Jnr. American MBA Class of 2019 . Happy New Year, Hultians! . Happy New Year, Hultians! .