Corporate social responsibility (CSR) programs are designed by companies to do a myriad of things and are shaped by what companies are trying to achieve in business.Programs can be used to attract a certain kind of employee, lower risk, improve brand profiles, keep governments off the backs of the company, and even help create new products and services.
While Cisco Systems’ investment in corporate social responsibility stretches back to the company’s inception, with the instatement of new CEO Chuck Robbins in July 2015, the company isn’t pulling back at all on its ongoing commitment the public.
Robbins has made the Cisco Systems CSR program a cornerstone of his tenure—carrying on the work of his predecessors while also developing new, innovative technological solutions to the critical issues affecting modern society.
CEO Robbins supports CSR
Put simply by Robbins himself in Cisco Systems’ 2015 CSR Report, “What is good for the world and good for business are more closely connected than ever before.” I believe this as business gets so much more interconnected, global and real-time. It’s this core understanding that I believe has placed Cisco Systems as one of the leaders and at the global forefront of corporate social responsibility.
Run like a business, not a hobby
Key to the program’s success is the fact that it is run like a business. Real metrics are shared publicly—objectives, time-frames, and progress reports are all readily available for the company’s stakeholders. Cisco Systems also undergoes periodic materiality assessments to prioritize their resources and investments— allocating the most towards issues where external stakeholders’ concerns align with the company’s own business opportunities. This reminds me more of how a company would work, not a CSR program. As a former large business leader myself, I would prefer a R (red)-Y (yellow)-G (green) chart with some reds, but this kind of accountability is really good.
As a result of this process, Cisco Systems currently focuses their CSR efforts on five pillars: governance and ethics, societal applications of information and communication technology (ICT), environmental health, their own workforce (diversity, development and safety), and supply chain standards. The societal benefits of these pursuits are obvious, but they also hold intrinsic business value to Cisco Systems. Through their CSR efforts, the company says they are able to incubate new solutions and business models, attract and retain top talent, build relationships with governments, non-profits and customers, and contribute to the success of local economies.
In short, everybody wins.
This article was taken from here.