Explore reading: Corporate social justice Read about new trends in Corporate Social Responsibility. Then choose the correct answer (A, B, C or D) for questions 1–6. Put a () in the correct box. The first one (0) has been done for you. 21 How to successfully enter the age of Corporate Social Justice? Research has shown that companies with effective Corporate Social Responsibility (CSR) programmes are more profitable than those without. Over decades, corporations have relied on these programmes, which frequently include philanthropic efforts and diversity work, to build their brands and satisfy customers. Now, consumers and employees are raising the bar. They are now looking for so-called Corporate Social Justice. It means reframing CSR so that any initiative focuses on the measurable, lived experiences of groups harmed and disadvantaged by society. Where CSR is often realised through a secondary programme tacked onto a company’s main business, Corporate Social Justice requires deep integration with every aspect of the way a company functions. The need for this fundamental shift has become more apparent over the last few years. One of many examples is Amazon, which tweeted a statement in 2020 expressing solidarity with Black communities; yet it was immediately criticised for its selling of facialrecognition technology to law enforcement agencies and the extreme underrepresentation of Black professionals at the company. Stakeholders want companies that see social good as a necessity, not just a marketing strategy. How can companies respond to this new challenge? Firstly, begin with a goal or vision for a more just society. When picking a goal or vision, develop a thoughtful and intentional process that brings together representatives from your various stakeholder groups to determine which issues lie at the intersection of your company’s mission and the unmet needs of its stakeholders. The objective of this exercise is to arrive at a vision that your company can best play a part in creating. Secondly, situate your company within the broader ecosystem surrounding that goal. For example, companies looking to address systemic racism in policing must work to understand the racial history of policing and the relationship between community resources and the crime rate. Most companies play a role in creating and maintaining inequities through their supply chains, hiring strategies, and the customer bases they serve – or don’t serve. Analyse these processes properly! What counts is building strong and representative working groups that connect the company with its stakeholders. The goal of these groups is to fully explore the impact of the company’s actions and to use this knowledge to proactively inform how the company acts on and reacts to society. For example, if a company is looking to release a statement on anti-Black racism, its message should be developed by Black employees, managers and any other Black communities that interact with the company’s products or services. Ensure that all members are compensated for their participation and can opt out at any time. Working groups should set goals, which are translated into directives for the entire company. Companies’ relationships with their stakeholders are regulated by trust. Continued failure to meet goals damages this trust and diminishes the efficacy of working groups. Corporate Social Justice is not a feel-good approach that allows everyone to be heard. The company must decide that it is OK with losing business from certain groups, since taking money from them would run counter to its Corporate Social Justice strategy. Corporate Social Justice imagines a healthier and mutually beneficial relationship between companies and the communities they interact with. It is driven by the growing desire of socially-aware consumers and employees for companies to build a better world for all – including themselves. 133 Language skills Extras Explore 10 Trading with the world Nur zu Prüfzwecken – Eigentum des Verlags öbv
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