The Conference Board provides practical advice how to do Corporate Social Responsibility (CSR) for stakeholders as response to COVID-19

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Responding to the Coronavirus Crisis: Selected Ideas and Learnings for Asia’s CSR Leaders

CSR in Time of COVID-19 – The Conference Board provides practical advice how to do Corporate Social Responsibility (CSR) for stakeholders as response to COVID-19

Summary:

The Conference Board put together best practices for Corporate Social Responsibility (CSR) during COVID-19 epidemic. Some key points are:
  • Activate CSR Crisis Team – Establish CSR crisis team for strategizing, planning and executing CSR measures, which should be supported by top management
  • Identify Needs – Map impact of COVID-19 to employees, operations, suppliers and customers, as well as identify needs of nonprofits and community organizations to pinpoint locations with greatest needs and available resources that could be mobilized
  • Focus on Competencies – Activities must align with company’s core values, competencies and resources, with priorities set depending on urgency, impact, and if they require support from stakeholders
  • Cash and In-Kind Donations – For cash donations, choose reputable organizations, whether to government bodies, local organizations, or international intermediaries, while in-kind donations can be shelter equipment, medical supplies or goods and services from company, suppliers and business partners
  • Communicate CSR Activity – Communicate company’s CSR position and activity without sounding opportunistic, working closely with government relations and corporation communications teams to get messaging right
For more corporate social responsibility responses for COVID-19, read article for free at https://www.amchamchina.org/uploads/media/default/0001/12/84ec6ecdce4b963ad2990d1b770709435bb1741f.pdf
Company: The Conference Board
Category: Strategy

Original publication date: February 29, 2020

Date last updated: April 22, 2020