People: The Social Side

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2 People: The Social Side NICK ASTER Founder & Publisher TriplePundit.com MARY CAPOZZI Sr.Dir, Corporate Responsibility Best Buy 2

3 Social Responsibilty Definitions Societal benefit, ethics, passive, proactive... What does this have to do with Sustainability? It is sustainability... 3

4 People are Stakeholders Beyond Shareholders - Customers 4

5 People are Stakeholders Beyond Shareholders - Employees 5

6 People are Stakeholders Beyond Shareholders - Supply Chain 6

7 People are Stakeholders Beyond Shareholders - Investors 7

8 People are Stakeholders Beyond Shareholders - Community 8

9 People are Stakeholders Beyond Shareholders Government, activists, fans, local groups, competition, partners, future generations... 9

10 People are Stakeholders Engagement & Reporting - Why? Compliance Goodwill/PR Reporting - GRI etc... The Bottom Line A significant number of studies have shown no negative influence on shareholder results from CSR but rather, a slightly positive correlation with improved shareholder returns. (Carpenter, Bauer, & Erdogan, 2010) 10

11 CSR 2.0 Communicating Success, Dealing with Crisis Conversation Losing control of your brand - and loving it Retailers Who Get it 11

12 CSR

13 Best Buy YOUTUBE VIDEO 13

14 Best Buy: A Glance Where we ve been 1966: Founded by Dick Schulze as Sound of Music, Inc., an audio components systems retailer 1980s: The company rapidly expands its product offerings, changes its name to Best Buy and goes public on the NYSE: BBY 2001: Best Buy begins global expansion and acquires Future Shop, Canada's largest, consumer electronics retailer And where we are TODAY. Best Buy and its joint venture partners operate stores in the U.S., Canada, Mexico, China, U.K., Spain, France, Germany, Netherlands, Portugal, Sweden, Belgium, and Ireland. Factory operations in China, U.S., Mexico, South Korea, India and Malaysia. Best Buy s 180,000 employees work create a leading multi-channel global retailer and developer of technology products and services. 14

15 Best Buy: CSR Integrating CR/Sustainability into business strategy - Seeking New Opportunities for Best Buy New Businesses New Markets New Customer Demands New Competitive Challenges Enhancing Reputation / Brand Being a leader in Sustainability/CR engenders trust more than any other corporate effort. (Reputation Institute; reputation tracker data, 2008) 15

16 Best Buy: Strategic Dev Understand Current State 40+ Internal Interviews 20+ External Stakeholder Interviews Key Global Trends Competitor Benchmarking Importance to Stakeholders Low Prioritize High Influence on Business Strategy Identified business-relevant sustainability issues Applied scoring system to map in 4 box Develop Strategy, Goals & Metrics Define Strategy Develop goals Create high-level action plans Build communication plan 16

17 Best Buy: Strategic Dev Internal Interviews Executive management Sustainability practitioners International Management All Advisory Team Members External Interviews Vendors Member organizations International Human Rights Activists Environmental Organizations Social Responsible Investors 17

18 Best Buy: Leadership Focus Area Product Stewardship Objective Best Buy will drive growth, brand value and customer loyalty by leading the CE industry as product steward across the value chain, from product design to end of life solutions and services. Sustainability Solutions Best Buy will create customers value propositions that help them live more sustainable lives, driving growth and profitability for the company. Access through connection Best Buy will build business models that enables people who don t have it today to access all the benefits of the connected world. Workplace: Opportunities and Inspiration Best Buy will be a preferred place of employment because of our sustainability efforts, enabling us to attract, retain and develop a talented workforce that can deliver against business and sustainability ambitions. 18

19 Best Buy: Governance CEO and Board Ultimate oversight of BBY CR/sustainability performance CR/Sustainability Executive Team Responsible for setting sustainability policy, regularly reviewing sustainability performance, performance outcomes Field Employee and Business Networks, Consumer Insight, Integrate sustainability goals throughout the business, innovate ideas and approaches, reach the consumer, develop ideas based on consumer insight Ethics and Compliance Sustainability Advisory Team Formulating strategy, policy, goals, metrics, stakeholder engagement, setting management standards for CR/Sustainability External Stakeholders Access Focus Team Drive initiatives and programs, improve performance, establish policy, goals and metrics Product Stewardship Focus Team Drive initiatives and programs, improve performance, establish policy, goals and metrics Sustainability Solutions Focus Team Drive initiatives and programs, improve performance, establish policy, goals and metrics Inspiring workplace Focus Team Drive initiatives and programs, improve performance, establish policy, goals and metrics 19