When social issues arise that stimulate public expectations, there are numerous factors and constituencies to be considered before a corporation can make a formal response. It’s critical to have a process, communication plan, and monitoring capabilities to maintain a pulse on public sentiment and manage accordingly. How can boards and business leaders stay proactive rather than reactive when it comes to initiating corporate responses?
In this episode, Paul Washington, Executive Director, Environmental, Social and Governance Center, The Conference Board, outlines a best practice framework for issuing a public response to social issues:
- What criteria should boards and management teams use to determine if a public stance and response is needed?
- What process should boards follow for developing and issuing a public response?
Read The Conference Board’s Executive Summary – Under Pressure: How Corporate America Can Address Social Issues