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Main | INTRODUCING THE 2013 CONE COMMUNICATIONS/ECHO GLOBAL CSR STUDY »
Monday
Dec302013

Social Media and the Future of CSR Impact Measurement

Maureen Feldman
December 2013 

The proliferation of social media has heightened the publics awareness of corporate business practices, both positive and negative.  Through social media networks, people have the ability to communicate, transmit information, and draw attention to corporate conduct, placing power previously reserved for public relation firms, into the hands of consumers. One person’s voice can now start a powerful movement, difficult for a corporation to ignore. 

Rising pressures by consumers, citizens, and even governments to practice responsible and sustainable business behavior has caused corporate social responsibility (CSR) to gain popularity.  In 2011, 57 percent of Fortune 500 companies issued corporate accountability reports, which is up 20 percent from the previous year. In 2013 the Global RepTrak study reported the public believes corporations have a responsibility to give back to the community and expect them to follow rigorous CSR efforts. More importantly, they want to see how the CSR program contributes to the socio-economic and environmental welfare of society. 

The Cone Communications 2013 CSR Study polled 55,000 people and found that only 25% believe CSR programs are actually having a positive impact on society, yet, most companies still only measure their performance and not impact as corporate and government agencies have not yet agreed upon a regulatory consensus on 'how’ to measure CSR effectively.   

As our global landscape continues to change, voluntary efforts to develop standardized national and international policies for CSR assessment must move beyond simply the act of reporting and clearly demonstrate the impact of initiatives in measurable terms to advance the merits of CSR.

Though currently there are no standardized obligatory methods to measure CSR impact, there is an emerging global discussion between industry and government leaders regarding making “measurement” a requirement. As mainstream CSR is being reassessed and consumer and employee demand for CSR continues to grow, impact measurement will become increasingly important to business and governments alike in the next decade.

Resources:

CSR Sustainability News

Methods and Tools for Corporate Impact Assessment of the Millennium Development Goals (MDGs) and Sustainable Development Methods and Tools for Corporate Impact Assessment of the Millennium Development Goals (MDGs) and Sustainable Development

Impact Measurement and Performance Analysis of CSR

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  • Response
    Building up an astute online networking methodology can give CSR, One of the greatest advantages of social networking is that it permits brands to make uniqueness and show the amazingly prominent side to users, it gives them the chance to emerge with their CSR interchanges approach.

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