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âž½ How Is Your Company Approaching Corporate Social Responsibility and Environmental Management?
There is increasing interest in corporate social responsibility and environmental management.
Environmental or corporate social responsibility strategies may arise as a response to social pressures to gain legitimacy from environmental stakeholders.
These pressures affect the corporate governance of firms because shareholders desiring for the firm to be seen as socially responsible, pressure and influence managerial behaviour with respect to corporate social responsibility / environmental issues.
Environmental concern deals with a long term good for all in value generation while corporate social responsibility is focusing mostly on ensuring the redistribution of wealth more equally between the various stakeholder groups as firms’ decisions impact on people and their livelihood in the short and longer-term.
Environmental management focuses on the appropriate policies and governance mechanisms that companies put in place to mitigate the impact of their activities on the environment.
Environmental liabilities take away a lot of value from companies if not managed properly. The impact of diminishing or managing such liability well becomes visible in the share value.
Though some may see corporate social responsibility more as an expense, corporate social responsibility policy allows the firm to review ways of deepening embeddedness with stakeholders through the support provisions such as educational assistance, health facilities, and local capacity development.
Poor environmental management and corporate social responsibility implementation may lead to social discontents and protests by social movements and local communities.
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Dr Leesi Gborogbosi
(Finance + Strategy + Corporate Governance + Training)
â–£ Doctorate in Strategy.
â–£ Doctorate in Business Studies.
Gabriel Domale (Management Consulting)
Nigeria +2347034604152
The author, Dr Leesi Gborogbosi, CEO of Gabriel Domale Management Consulting), has over two decades of finance leadership experience from Shell Nigeria (Upstream E&P Oil & Gas). His expertise cuts across finance and strategy with an emphasis on finance transformation, project finance, strategy implementation, performance management, corporate governance, and collaboration. He has is also doctoral degrees in Strategy and also Business Studies from IE Business School, Madrid.
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About us: Gabriel Domale Consulting, a leading management consulting firm, helps companies in Africa to grow, provides insights to leaders and transforms institutions. Our consultants utilize their decades of hands-on experience to provide advisory in finance, strategy, corporate governance, transformation and leadership training to help companies and public institutions to transform their operations. We encourage leaders seeking insights to visit our BLOG here and also Request For Proposal (RFP) for our consulting services here
Published origninally on 30th Jan 2020 18:58:35
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