EVOLVE Business and Professional Magazine November 2019 | Page 19
environmentally friendly than it really is. “That is going to backfire to gauge where the firm stands before moving forward with a
According to Tichenor, to create a viable and substantial policy And finally, Tichenor suggests taking it one step at a time.
and it has backfired.”
of corporate social responsibility requires an understanding of
a company’s stakeholders – from ownership, officer, investors,
consumers and the larger community.
“You can’t meet all the stakeholders’ needs so a lot of it is about
balancing and prioritizing stakeholders’ needs,” he said. “And
some of it does cost money.”
Tichenor said there are a variety of ways companies large and
small can adopt corporate socially responsible practices from
investing in new energy sources to focusing on the issues important
to stakeholders.
“I think it starts by identifying and understanding those
issues and recognizing that it is not just the public relations but
recognizing who your stakeholders are. That is where I would
corporate social responsibility plan.
“Know that it is an iterative process,” he said. “Start small, do
what you can do now and don’t wait until tomorrow. It’s about the
long term, not the short-term gains.”
The importance of looking beyond profit is borne out by the
findings of the Cone/Porter Novelli study, which found that nearly
80 percent of Americans believe it is no longer acceptable for
companies to simply make money.
For Tichenor, it comes down to a basic change in the attitudes of
consumers about where and how they spend their money.
“I think consumers are becoming more and more aware and
expecting companies to do the right thing,” he said. “That is a very
important aspect and companies need to be aware of that.”
recommend any company start.”
For companies considering adopting a corporate social
responsibility focus, Tichenor offered three recommendations.
The first is to clearly identify the company’s vision, mission,
strategic plan and primary/secondary stakeholders.
The second is to take advantage of any of several business
impact tools available online and audit the company’s practices
Aaron London is a reporter and columnist who has
covered business and economics for 27 years. He
has worked for newspapers in Ohio and Florida and
is also an adjunct professor of journalism at Daytona
State College.
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