As socially conscious consumers continue to put their wallets and hearts in alignment, the corporations enjoying the best reputations are those that pair their business goals
with philanthropic pursuits (PRN, Jan. 17). Those same corporations also are enjoying healthy financial returns, according to a report issued by Boston College's Center
for Corporate Community Relations . "Socially screened funds are growing at more than twice the rate of the rest of the market,"the report states.
Last month, the center released a new round of "Standards of Excellence in Corporate Community Involvement," designed to help companies play their cause cards right in the new
economy. They are:
1. Leadership. Senior execs demonstrate support, commitment and participation in community involvement efforts.
2. Issues Management. The company identifies and monitors issues important to its operations and reputation.
3. Relationship Building. Management recognizes that building and maintaining community trust is a critical component of strategy and operations.
4. Strategy. The company develops and implements a strategic plan for community programs and responses. The plan is based on mutual issues, goals and concerns of the
company and community.
5. Accountability. All levels of the organization have specific roles and responsibilities for meeting community involvement objectives.
6. Infrastructure. The company incorporates systems and policies to support, communicate and institutionalize community involvement objectives.
7. Measurement. The company establishes an ongoing process for evaluating community involvement strategies, activities and programs, and their impact on the company and
community.
To coach corporations in their philanthropic initiatives, the center has developed a diagnostic tool with performance indicators for each of the seven standards. Companies
embracing the standards include heavy-hitters such as Compaq, Clorox, IBM, Chase Manhattan Bank, Merck & Co., Unilever, Boeing and Ameritech.
(Cheryl Kiser, 617/552-8948)
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