In 2004, Hayleys PLC, a leading Sri Lanka multinational with operations in diverse sectors, decided to unite all its separate environmental and social initiatives into a single corporate responsibility effort. The programme build on strong corporate values and in certain sectors was immediately successful, enabling the firm to strengthen relationships with key stakeholders (unions and customers). Nonetheless, the question of the long-term economic viability of the effort remained.
How can one use company values to federate disparate initiatives into a single, strong corporate responsibility programme at the heart of corporate strategy? How can managers determine the economic viability of a successful CSR programme? What are the reputational implications of success or failure, and their effects on corporate strategy?
- IAF 08/09
- IAF 2520418