Corporate Social Responsibility

Today companies and organizations are operating in a market place where stakeholders expect and demand that their business performs its operations in a more responsible way. Companies are required to adopt standards of accountability, transparency, and sustainability. Many are recognizing the benefits of encouraging responsible business practices and reducing reputational risk through a responsible and sustainable model called Corporate Social Responsibility (CSR).

CSR is not a new approach. But corporate governance and environmental regulations have forced companies to consider CSR as key strategic initiative.

Under CSR, companies will have to recognize certain elements of their business environment, such as:

• Commercial issues of compliance and risk management
• Legislation impacting business operations -- pollution and environmental issues
• Investors’ expectations for CSR performance indices
• The influence and expectations of stakeholders such as non-governmental organizations and lobbying groups
• The basis for competitive advantage and brand reputation

Key Stakeholders in CSR initiatives

CSR initiatives can help companies in achieving key strategic goals:

CSR Strategic Area	Initiatives	Activities
Environmental	Contribute to a better environment	Emission management Carbon footprint reduction Greenhouse gas reduction Alternate energy adoption Board and CEO commitment Environment management     and measurement Community benefits
Corporate    Governance	Establish corporate governance approach	Define and practice equitable     treatment of shareholders Corporate ethics Clarity and transparency in the     roles and responsibilities of the     Board and company     executives Disclosure, transparency, and     accountability for shareholders
Community	Developing people through community activity	Employee engagement Employee volunteering Employee development Community activities Stakeholder communication     and engagement Selection and recruitment Staff retention Community support Diversity
Work Safety	Developing safe workplace environment	Encouraging organizations to     consider health and safety Report publicly on a range of     health and safety issues Producing and promoting a     health and safety index for     insurance companies,     investors and others to gauge     the performance of a     company

Companies can follow a 4-step model to comply with the CSR agenda:

MetricStream Corporate Social Responsibility Solution

MetricStream Corporate Social Responsibility Solution allows companies to define and manage CSR initiatives and use them as a strategic tool in achieving compliance and sustainability . The solution has the ability to align with operations, internal policies, and standards.

It also empowers managers with the tools to measure the efficacy of their organization's programs by centrally storing and managing data related to internal and external audits, certifications, training, and corrective action plans. It also helps identify risk issues, prioritize corrective measures, capture and track operations across a number of functional areas, and improve the productivity of employees involved in CSR programs.

The MetricStream solution incorporates powerful functionalities that allow organizations to manage and report their Key Performance Indicators (KPIs) to assure stakeholders that their CSR initiatives meet their goals.