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Buried Treasure: Discovering and Implementing the Value of Corporate Social Responsibility

Buried Treasure: Discovering and Implementing the Value of Corporate Social Responsibility

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With business under unprecedented pressure from a range of stakeholders to engage in corporate social responsibility (CSR), those working in dirty industries, developing countries and the extractive sector are finding themselves exposed to great strateg risks. Many of these companies are endeavouring to practise CSR and sustainability, but lack the knowledge to do so convincingly. Much of what has been published to date tells companies they must do CSR, without explaining how best to implement CSR-relat policies and why this is very much in the corporate interest. Buried Treasure sets out in a series of case studies from different industries around the world a clear demonstration of how it is possible to create shared value for companies, communities another stakeholders by putting CSR at the core of the business model. In implementing CSR, companies need to look beyond philanthropy, delving deeper to find the buried treasure of shared value creation. This is much more than finding the simple win winolutions. It is about companies engaging seriously in the challenges they face in their operations and finding competitive advantage from working with stakeholders to solve these common problems. This is not easy but where companies have done it well theyave found new corporate opportunities and enhanced brand value. Buried Treasure presents a series of steps, each accompanied by an in-depth case study, to demonstrate how different companies have managed to uncover the value of CSR. They include: Anglomerican s Zimele programme of enterprise development in its coal and platinum mining areas in South Africa; Montana Exploradora, showing how community co-monitoring of the environment has helped build trust for a gold mine in Guatemala; Gildan, a leading ortswear manufacturer, demonstrating how garment manufacture in Honduras created meaningful local opportunities; Scandic Hotels, which has used environmental stewardship and omtanke to create comparative advantage in a competitive industry; and Turner Brocasting, using corporate core competences in partnership with an NGO to leverage staff skills, enhancing public perception and staff retention. This short and accessible book will be an invaluable aid to managers and students searching for clear proof the advantages of corporate social responsibility for business and its many stakeholders and for guidance in how to action best-practice policies.