With a mission to inform, empower, celebrate and advocate for British Columbia's current and aspiring business leaders, BCBusiness go behind the headlines and bring readers face to face with the key issues and people driving business in B.C.
Issue link: http://digital.canadawide.com/i/740454
Created by BCBusiness in partnership with United Way of the Lower Mainland Coro Strandberg, president, Strandberg Consulting Strandberg has worked in corporate social responsibility for more than 20 years—including a stint on the Vancity Credit Union board. To help a company identify their social purpose, she first suggests uncovering a company's genesis story: "Most businesses were created to meet a need in society," say Strandberg. Can you connect that to a modern-day social issue? Alternatively, research community issues in your area, or investigate whether current customers are using your product in a way that creates social value. But whatever the social purpose, you must deeply embed it into your operation. "By doing this, you attract more customers and increase customer loyalty. Customers become brand ambassadors," she says. "It's a virtuous cycle of growth." James Belsheim, president, Neptune Bulk Terminals To identify its social purpose, North Vancouver's Neptune Terminals looks local, and long-term. "We take time to understand the community, looking at where the gaps are and how we can make the biggest difference," says Belsheim. The company works closely with United Way of the Lower Mainland, which helped Neptune hone in on at-risk youth—particularly those with learning disabilities—and seniors' well-being in North Vancouver. While these issues might not immediately impact the company's bottom line, that's not really the point, says Belsheim. "For us, it's about building community trust long- term," he says. "We also want people to be proud of working at Neptune. Our efforts in the community give them that pride." David Labistour, CEO, Mountain Equipment Co-op Promoting outdoor activity and healthy living wasn't much of a leap for a Canadian outdoor-recreation gear company. But Moun- tain Equipment Co-op ( MEC) has integrated this social purpose into its business to such a degree that it develops its products and operates its business through the lens of how best to help and encourage people to get off the couch and out the door. For Labistour, it's about understanding customers, and people in general. "The more value we can provide to the people in our communities, the greater our brand trust and social license to operate will be. This includes the consid- eration for those who make our products and the environments in which they are made." STAGE 1. PHILANTHROPY WHAT: A corporation shows goodwill by giving back to community. EXAMPLE: During this holiday season, a company collects items and comes together as a group to put together Christmas hampers and tells the story through paid advertising. BUSINESS VALUE: Goodwill. STAGE 2. STRATEGIC WHAT: A corporation under- stands the value of supporting the community and becomes strategic with its actions. EXAMPLE: A company decides to give back by establishing a community grant, and the story is spread through the news media. BUSINESS VALUE: Reputation. STAGE 3. INTEGRATED WHAT: A corporation real- izes the competitive advantage gained through philanthropy, and designs products and ser- vices to be socially beneficial. EXAMPLE: Social hiring (hire local, support people with bar- riers to employment). The cus- tomer shares the brand's story. BUSINESS VALUE: Profitability. STAGE 4. SOCIAL PURPOSE WHAT: A corporation bases its reputation on social good, and the whole enterprise is creating a social movement. EXAMPLE: The business purpose supports a higher level of social purpose. Everything it does tells the story, and relates back to the movement. BUSINESS VALUE: Sustainability. The Evolution: Philanthropy to Social Purpose SOCIAL PURPOSE IN PLAY Want to learn more? Contact United Way of the Lower Mainland: socialpurpose@uwlm.ca