CSR Value Continuum: Another way to think about Shared Value
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CSR and Shared Value are explored using several innovative frameworks. Lecture argues that all CSR is Shared Value. Presents concept of CSR Value Continuum (Value Distribution Value Creation). Follows recent article on similar title - http://www.slideshare.net/waynedunn/csr-value-continuum Lecture delivered to the Canada Indonesia Chamber of Commerce, May 23rd, 2014, Jakarta, Indonesia
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CSR Value Continuum: Another way to think about Shared Value
- 1. CSR Value Continuum Another way to think about Shared Value Value Distribution Value Creation Wayne Dunn Professor of Practice in CSR @ McGill President & Founder CSR Training Institute wayne@csrtraininginstitute.com CSR Breakfast Seminar Friday, May 23rd, 2014 Jakarta, Indonesia
- 2. Why Me? Who is Wayne? • Saskatchewan Farm Boy • Accidental Academic • 2 seasons diamond drilling (Gold/Uranium) • 25+ years of practical, global CSR experience • About 100 projects (programs, policies, strategy, relationships, innovation, etc.) Many very complex (e.g., industry HIV/AIDS strategy in South Africa and Papua New Guinea). Some great successes, at least one social license failure. • Over 40 countries spanning all continents (urban, rural, indigenous, traditional, etc.) • Numerous awards (1st private sector winner of World Bank Development Innovation Award, Stanford Case Study, etc.) • Developed McGill | ISID Executive Program on CSR Strategy & Management • Professor of PRACTICE in CSR (note – still practicing and learning!)
- 3. CSR: Sometimes a bit confusing? Graphic borrowed shamelessly from : http://flowingdata.com/2010/04/27/discuss-powerpoint-is-the-enemy/
- 4. CSR: THERE ARE NO EXPERTS Beware the Expert
- 5. Objective CSR and Value – to discuss a framework and a couple of tools that MIGHT help you to be more efficient at understanding and creating value through CSR investments and activities (and help you to explain the value to the ‘quant jocks’) Remember There are no CSR Experts We are all learning
- 6. CSR in the OLDEN DAYS Policies & Good Intentions Solving Social Problems
- 7. CSR in the OLDEN DAYS (cont) Community Relations Management Framework Plan ?Results? System
- 8. CSR Pie, No Matter How you Slice It
- 9. CSR: If not Value, then what?
- 10. CSR: If Value, then How? • Shareholder Value • Stakeholder Value • Environmental Value • Community Value • Distributed Value • Shared Value • Retained Value • Sustainable Value • Social Value • Cultural Value • Organizational Value • Created Value • Lost Value • New Value • Reputational Value • Value Continuum • Value Sustainability • Value Creation • Value Proposition • Value Efficiency
- 11. CSR Value Optimization: Start by Knowing Analysis of CSR starts with an inventory of activities and programs and then proceeds to analyze and categorize according to various frameworks A simple inventory of CSR activities provides insights for maximizing value – often low- hanging fruit Having a common and consistent method to examine and understand activities and projects helps to optimize value
- 12. CSR: What’s In It For Me? Does CSR make sense without self-interest? Key issue is value alignment: Value propositions that align shareholder interests with those of other stakeholders
- 13. CSR: Tools & Frameworks Value Continuum Value distribution to value creation Value Alignment Value creation Value Sustainability Expense or Capital Not all of these are applicable in every project/situation and there are others that could be developed. What is important is to have frameworks that help to understand both individual CSR initiatives and corporate/project wide CSR
- 14. CSR Value Continuum© Helps to understand aggregate of project/corporate CSR activities. CSR includes a range of activities from Philanthropy through to synergistic value alignment (and a well-rounded and developed program would have activities along the continuum) Continuum of value distribution through to value creation Shared Value should be created on all CSR projects, not just those at far right. Level and amount of shared value/value creation changes but all are about value and shared value Value Distribution Value Creation • Grants/Donations/Philanthropy • Local organizations/governance • Education & Healthcare • Skills training • Employment • Procurement • New products, markets, ventures © CSR Training Institute 2013
- 15. http://www.slideshare.net/waynedunn/csr-and-value-creation-shareholders-communities-and-governments
- 16. CSR Partnerships
- 17. CSR and Partners Who/what benefits from success of this initiative? What sort of partners would fit with this initiative? (if any) What value would they receive? Create? (for project and for company)? PNG AIDS/CIDA Inc.
- 18. CSR as a Catalyst • CSR projects can act as a catalyst to bring key partners to the table • Why do this? • Increases available resources (financial, human, organizational, political) • Increases sustainability • Reduces risk
- 19. CSR as a Catalyst • HIV/AIDS in PNG
- 20. Value Proposition • What Value Gets Created – For Who? • Who else might benefit? • Avoid Zero-Sum situations when possible
- 21. Value Distribution Value Creation Value Proposition Alignment • Grants/Donations/Philanthropy • Local organizations/governance • Education & Healthcare • Skills training • Employment • Procurement • New products, markets, ventures it’s all shared value Every CSR investment and activity should create value for the company & for one or more stakeholders. 1 1 3 CSR Value Alignment Framework© © CSR Training Institute 2013
- 22. Value Sustainability CapEx or OpEx? • Does the initial investment continue to provide value beyond the investment timeframe • Community Sports Event • Local Supply Chain Development
- 23. © CSR Training Institute2014 Value Sustainability© Current Value Medium Term Value Long Term Value • Grants/Donations/Philanthropy • Local organizations/governance • Education & Healthcare • Skills training • Employment • Procurement • New products, markets, ventures Does a CSR investment continue to produce value over time
- 24. CSR is a SHARED RESPONSIBILITY Value for People Value for Communities Value for Shareholders Value for Governments Value for other Stakeholders Need to balance interests CSR is about value creation not Charity
- 25. CSR is a SHARED RESPONSIBILITY Effective value creation through CSR requires shared responsibility Depending on project it may include • Company • Local Government • National Government • Traditional Leaders • Development Partners • International Organizations • NGOs and other stakeholders
- 27. Metrics, Monitoring & Managing • Can you manage it if you can’t measure it? • What metrics would you measure/monitor? • Why? • How? • How can it fit within your existing management systems?
- 28. CSR: Tools & Frameworks Value Continuum Value distribution to value creation Value Alignment Value creation Value Sustainability Expense or Capital Not all of these are applicable in every project/situation and there are others that could be developed. What is important is to have frameworks that help to understand both individual CSR initiatives and corporate/project wide CSR
- 29. For Additional Information Wayne Dunn President & Founder CSR Training Institute Professor of Practice in Corporate Social Responsibility McGill University | Institute for the Study of International Development wayne@csrtraininginstitute.com Desk: +1.250.743.7619 Slideshare (for this and other lectures, reports, etc.) http://www.slideshare.net/waynedunn