CORPORATE

SOCIAL RESPONSIBILITY

6. CSR MEASUREMENT

Once the definitions of CSR are known, as well as its history, components, groups
involved and the advantages that an adequate CSR management can provide to the
different companies and organisations, it is important to know how CSR can be
measured in order to verify if a company is or is not socially responsible to its
environment.
As De la Cuesta states:

“Once the principles of CSR are known, it is necessary to translate said principles into
measurable variables through the construction of standards and indicators, from
which, and after a process of Social Audit, it can be concluded that a company is
socially responsable”.

6.1. SOCIAL AUDITING OF AN ORGANISATION

Given that today's competition in most sectors is huge, many companies and
organisations carry out a whole process of designing and executing actions and activities
that allow them to differentiate themselves from the rest and obtain a better brand
image and reputation.

It is for this reason that companies establish innovations in the reduction of costs, the
optimisation of resources, the improvement of processes and products, the expansion
of markets, better returns on their investments, etc.

However, often this concern to achieve greater efficiency is not linked to the search for
efficiency in the social field, and that is why there are a whole series of mechanisms to

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determine the degree of social commitment of companies that, after all, will be the one
that will enable the business growth and the improvement of its reputation.

These are the resources to measure the social commitment of companies.

6.1.1. Social Balance

It is an instrument for continuous evaluation of the ethical behavior of the organisation

and for the communication of a company's strategy, especially regarding the
environment and its relations with its social environment.

With the Social Balance the impact of the policies of action in the social field is
measured, through various support programmes to social organisations in specific areas
close to a company. The assessment of a company's policies is also applicable internally,
with the implementation of mechanisms to evaluate policies in the field of human
resources, health and safety at work, customer relations and suppliers, and relations
with the Public Administration, among others.

According to the ILO, the Social Balance is:

“An instrument to measure and evaluate clearly and precisely the results of the
application of a company's social policy. It is a management tool to plan, organise,
direct, record, control and evaluate in quantitative and qualitative terms the social
management of a company in a given period and against pre-established goals.”

The aspects that are valued in the Social Balance are:

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✓ Human rights

✓ Rights of workers

✓ Environmental Protection

✓ Relationship with the social environment

✓ Relationship with suppliers

✓ Rights of the stakeholders

Social Balance Goals:

▪ Information: It allows us to reveal data and details to the different stakeholders.

This will generate value, recognition, a sense of belonging, commitment and
enable interest groups to know the social function of a company, both internally
and externally.

▪ Planning: The Social Balance gives a company the possibility of planning its
management based on the information provided by its methodology. The
updated, analysed and interpreted figures allow a diagnosis of the social reality
of the organisation and a formulation of plans and budgets for later periods in
aspects such as the redesign of policies, the optimisation of resources,
prioritisation of programmes or activities, all in accordance with the strategic
plan of a company, which will help to achieve a more efficient and productive
social management.

▪ Concentration: It deals with an agreement between parties, which may be a

union, suppliers, government or community, among other sectors that interact
with the organisation.

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To sum up, it is important to name a series of basic requirements that a company must
meet if it wants to develop a good Social Balance that helps in the planning and
management of activities that in the future will result in a greater benefit, either tangible
or intangible.

▪ Existence of a social philosophy. Defining ourselves as a company, clearly

marking the aspects that concern us and that we want to obtain will help us
when defining the actions we are going to carry out, but above all when assessing
and measuring if we achieved what we intended to achieve.

▪ Commitment of senior management. The Social Balance frequently involves

internal changes, budget adjustments and redefinition of functions, among
others. Therefore, it is necessary that the management is aware of the necessity
for all this series of changes in order to implement the measures that will help
us improve.

▪ Corporate commitment. The Social Balance needs corporate commitment that

will help a company define the action plan, as well as achieve the established
goals and comply with the marked budget.

▪ Creation of a work team. The work team will be responsible for defining the
action plan, and will be responsible for the development and monitoring of the
entire process. This usually consists of members of the management as well as
those responsible for the different areas of management.

▪ Adoption of methodological instruments such as Guidelines for Sustainability

Reports, the Global Reporting Initiative, and the Corporate Social Report, among
others.

▪ Adoption of a system of information collection, evaluation of results and

verification. A data collection, recording and analysis system should be
implemented to allow interpretation according to the established goals. In

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addition, all this information must be verified, since it will provide a company or
organisation with the greatest credibility.

▪ Presentation of the results. The results must be presented clearly and

periodically. The public to whom they are addressed must be taken into account
as this will determine the language we will use as well as the medium that will
be chosen to convey the message in the best possible way.

6.1.2. Accountability

Although there is no exact definition that fits the term of accountability, it is understood
as " the fact of being responsible for what you do and able to give a satisfactory reason
for it, or the degree to which this happens ".

Currently, in the globalised world in which we find ourselves, the role of a company has
a double meaning in society. On the one hand it affects its contribution in the social,
economic and environmental sphere, and on the other, it affects the “reason d’être” of
a company itself, that is, its values and mission.

For this reason, all organisations, whether public or private, must find and assume their
role as social actors within a changing society, while the different social actors demand
to be taken into account as an important variable in the decision making of each
organisation.

Each one of the different social actors uses different tools and strategies to face the
same problem, and it is in this context of globalisation where the interrelation of the
different actors arises, generating a more specific dialogue in which the main element is
transparency, understood as a transversal process of all the activities of the
organisation, which the Anglo-Saxons call accountability.

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At the centre of this process is the need for each organisation to reflect on its vision, its
stakeholders and its activities, where each actor asks himself what the others demand
and what he demands of himself.

▪ Accountability approaches:

We must take into consideration the traditional approach and the current one.

Let us see the differences between these two approaches based on accountability
according to Mar Vilanova (2004):

Traditional approach (stakeholders)

- It is a process by which companies must respond for their actions and

consequences.

- It requires defined responsibilities and functions in terms of hierarchy and

power.

- The process is implemented through the exercise of control and reporting by

those who have power over a company, such as shareholders.

- Accountability is conceived as the end of a process in which the result of

previously performed actions is judged or evaluated.

Current approach (stakeholder)

- Process based on responsibility that extends its areas and its stakeholders.

- Any individual or organisation that may affect or be affected by the activities of

a company may demand such responsibility.

- Accountability is conceived as a dynamic process in which stakeholders can

participate in all levels of decision making of a company and can demand
responsibilities.

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Thus, the traditional practice is based on the rendering of accounts to very specific
interest groups that had some power over a company, while in the current approach,
any organisation that can be affected or influenced by a company, can request
communication and transparency practices.

In this way, we define accountability as a process understood within the framework of

CSR, in which a company defines and assumes its responsibilities with its stakeholders,
acts in relation to said framework and informs its stakeholders of its practices. It is a
process framed in the contribution to Sustainable Development, based on strategy,
policy and business practice, so it affects and transforms a company in different areas.

The idea is to implement a cyclical process in a company or organisation, which initially

reflects a company's vision in the field of CSR and draws up a map of stakeholders, and
then analyses the existing accountability policies.

Next, a diagnosis is made of both the demands and trends of the market as well as its
vision or objectives as an organisation. Then, a specific action plan should be proposed,
specifying both the management indicators and the measurement systems that can be
used when monitoring the implementation of the action plan.

The diagnosis, action plan and battery of indicators implemented in a company include
almost all the information necessary for a company to write and publish reports for its
different stakeholders.

It is necessary to emphasise that it is vital to find a way to verify these reports, either
through independent bodies, or through the approval of the stakeholders. It should be
pointed out that the data obtained must be used at the end of the cycle to return to the
initial point and make a reflection on a company's vision in the field of CSR and its
stakeholder map.

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In the implementation of accountability there are a number of initiatives, such as

principles and codes of conduct, valuation indexes, accountability reporting frameworks
and management and certification systems that will help a company in its development.

Although each initiative can indicate, with more or less detail, the issues to be taken into
account, the areas of realisation are common to all of them and contain the following
aspects:

✓ Identity and corporate governance

✓ Stakeholder management

✓ Environment

✓ Market practices

✓ Accountability

Regarding the model for the preparation of these accountability reports, we highlight
the GRI as the most accepted and used one.

6.1.3. Financial Auditing

It is the most traditional measuring instrument, and historically it has focused on the
verification of accounting and financial information; its field of research is the
accounting and administrative control of the organisation.

We can present here three stages and models of the Financial Audit as a management
tool:

▪ Control of errors and irregularities.

This activity is mainly developed in the public sector. It is about controlling all the
information to avoid any error or irregularity.

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▪ Control of the activity of the managers of the organisation.

It arises when business growth requires a separation between ownership of the entity
and the management of it.

▪ Opinion on the financial information provided by the organisations.

This last stage is not about detecting irregularities or controlling the activity of the
management, although it is necessary to take into account these aspects, but rather
about evaluating and interpreting the information obtained.

6.1.4. Social Auditing

In order to finish this section, we will see what the social audit consists of another CSR
tool of management and measurement.

The objectives of the social audit are divided into two groups: general and specific.

▪ General objectives

- To integrate the moral dimension of the actions of the organisation, opening it

to the participation of stakeholders.

- To know the results and impact of the organisation’s actions from a

comprehensive perspective (environmental, social, human resources, quality,
image, etc.)

- To have more complete information for decision making in order to be able to

approach it from an integral perspective, introducing for this reason
prarameters, fundamentally of a quantitative nature, that complement
information systems.

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- To develop the practice of ethics in the organisation through institutionalised

procedures, thus promoting the strengthening of socially responsible behaviors
both of the people who are part of it and of the organisation itself.

▪ Specific objectives

- To detect the deficiencies and shortcomings of the actions of the organisation in

the different areas of activity.

- To deepen the knowledge of the different areas of activity and the consequences
of the activities of the organisation.

- To define, apply and evaluate the social, environmental, human resources, etc.,
policies of the organisation.

- To have a series of recommendations for the correction of the deficiencies

detected.

- To offer the interested and/or concerned parties reliable information about the
policies and actions of the organisation.

When carrying out a social audit, it is important to take into account a series of
indicators, both internal and external, that will help us to make a good assessment of
the social efficiency of a company or organisation.

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▪ Context: it is a multiple indicator:

- Contextualisation of the entity, providing data relevant to the environment of the

organisation.

- Description of the path of the entity. From their own action or from their reports,
the evolution of the entity is traced highlighting the milestones that both its
history and its connections in society have marked.

- Enumeration of results, works and performances developed. Both positive and

negative are included, using as a source the people involved in the organisation.

▪ Means: listing, by categories, the resources available; human, technological,

material, financial, etc.

▪ Recipients: it is about specifying the set of recipients of the activity of the entity,
emphasising the recipients of said action, whether individuals, groups or any
other pertinent reference.

▪ Social networks: external links that promote and in which a company or

organisation participates, such as federations, coordinators or platforms, among
others.

▪ Members: numbering and description of the members of the entity. It has to be

done in a comprehensive manner, including all the participants in the life of the
entity, from the employees to the sympathisers.

▪ Internal participation: description of the decision-making model in the

organisation and the participation system of its members.

▪ Scope: clarifying the orientation of the aims and goals proposed by the
organisation. It is about seeing the initial postulates and the impact that has been

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generated once the actions have been executed, in order to determine what kind
of repercussion their activities have.

▪ Procedures: refer to the description of existing communication channels, both

internally and externally.

▪ Communication: responds to the description of existing communication

channels, both internally and externally.

▪ Plurality: allows to specify the treatment given to the internal disagreement and
the tolerance mechanisms that are practiced.

▪ Permeability: degree of openness to the social demands of the entity. It is about

describing the how, how much and when they echo the needs, shortcomings,
proposals and other initiatives.

▪ Activities: outside the entity, with its periodicity, mood and conditions,
highlighting what kind of world they build with their presence in society.

6.2. STANDARDISATION AND CERTIFICATION

In order to determine if a company or organisation is socially responsible or not, it is

necessary to carry out a process that is divided into two phases: standardisation and
certification.

▪ Standardisation

Standardisation is based on the dissemination and application of standards

through which guaranteed principles of CSR are established. These standards can
be general, including all the dimensions of the CSR, by sector, focusing on a
dimension and/or an industry and regulating it.

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▪ Certification

Process by which an independent company guarantees that a company is subject

to the standard.

Regarding the certification standard, it is defined as the "document established

by consensus and approved by a recognised body that provides, for the common
and repetitive use, rules, guidelines or characteristics for activities, aimed at
reaching the optimum level of order in a given concept."

6.3. SOCIALLY RESPONSIBLE INVESTMENT (SRI)

According to AECA, Socially Responsible Investment incorporates ethical, social or

environmental considerations into financial investment or into investment decision
making, both by a company and by external investors.

During the last years SRI has been increasing in all its variants and interpretations,
especially these two:

▪ In the first one, SRI is understood as a social argument used as a means to

influence the social and environmental behavior of a company. It is about assisting
the property rights of investors, that is, it is up to the investors to decide whether
to accept or reject the financing of activities that were not considered as
favourable from an ethical and environmental point of view.

▪ This second vision of SRI appears when one begins to contemplate that CSR could
be an acceptable indicator of quality in the management of a company and,
therefore, an adequate indicator of its future financial evolution.

In 2001 the European Social Investment Forum (EUROSIF) was created in order to
promote and develop ethical investment.

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When deciding what to invest and where to do it, a company or organisation will be
guided through a series of investment criteria called ethical filters. That is to say, it will
be necessary to specify which behaviors companies exclude from the investment plan
and, on the contrary, which are the business practices necessary to carry out said
investments.

Within the group of socially responsible investments, investments of a collective nature

stand out, such as investment funds or ethical pensions, and ecological or green funds.

These determine selective investment criteria taking into account only if companies
meet certain environmental requirements.

When deciding what and where to invest, a company will also use the results that will
mark the ethical or sustainable indexes.

6.3.1. Sustainable Ethical Codes

The most important ethical or sustainable indexes are the Dow Jones Sustainability, the
Social Domini 400 and the FTSE4 Good.

They are a reference to ethical investments. Their main objective is not to provide
companies with greater economic profitability by investing in social improvement
issues. When making decisions related to ethical investment, they aim to take into
account the criteria relative to the set of obligations and legal and ethical commitments,
national and international, derived from the impact that the activity and operations of
the organisations produce in the social, labour, environmental and human rights fields.

Currently, as we have seen, the corporate image and the reputation of companies are
very important, and that is why most of them use this type of investment to make a
difference and earn this intangible value that in the long run will have an impact on the
economic gains.

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Within these sustainable ethical indices, we highlight ethical stock indices and solidarity
investment funds.

▪ Ethical stock indices

Ethical stock indices are those ethical filters existing in the stock exchange. These
include only those companies that stand out for having a better social or
environmental behavior.

The main ethical stock indices currently available are: Domini Social Index, Dow
Jones Sustainability Index, FTSE4 Good, Aspi Eurozone Indexes, Citizens Index,
and recently created, KLD-Nasdap Social Index and Nasdaq Stock Market.

▪ Solidary investment funds

Solidary investment funds deal with the transfer of part of the management
commissions of the fund to non-governmental entities.

It is important to highlight the characteristics of the companies that are normally

found in the portfolios of socially responsible investment funds:

- They issue quality social and environmental information.

- They provide advanced policies regarding the relationship with investors who
adopt CSR criteria.

- They do not operate in sectors traditionally rejected by investors that incorporate

CSR criteria, such as the tobacco sector, the manufacture of weapons or gambling.

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6.4. EXTERNAL COMMUNICATION AND EXAMINATION

Once we have implemented a correct corporate governance, (the design and

implementation of a social strategy, the measurement and control of socially
responsible management variables, the verification of information and the certification
of processes according to sustainability standards), we must establish the design and
the application of a communication policy that transmits our achievements to public
opinion.

It is up to the public to recognise these efforts, therefore, the establishment and use of
good communication channels that allow valuing the best socially responsible behavior
will become one of the main company’s objectives when it comes to establishing CSR
policies and strategies.

As we have seen, CSR has become a value with a great strategic and communicative
appeal, which is capable of exempting and legitimising companies against society. What
really matters is that the CSR does not remain a mere declaration of intentions, but that
the environment can see and know the achievements and improvements that have been
achieved with the implementation of these strategies and policies.

Let us see then how a company will communicate correctly with public opinion in order
to build a good image.

6.4.1. CSR Communication Management

The communicative management of CSR is based on three fundamental elements:

▪ Corporate Image

According to Herranz, the concept constructed in the mind of each one who
perceives and recognises it is considered by corporate image or public image.

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Increasingly, companies and organisations use CSR to have a good corporate

image, as CSR policies communicate a corporate behavior that affects the public
image of a company. In addition, it is a channel that allows observing the levels
of transparency in an organisation.

The CSR strategies and policies that a company carries out, in the long term, can
turn the corporate image into a highly valued asset that will bring transparency
and a good corporate reputation.

It is important to note that if the CSR is not well defined and planned, it will be
translated into a set of actions that only seek short-term notoriety.

▪ Transparency

It is a strategy that will allow legitimising and recognising the identity of a

company by its interlocutors, as well as being a variable that measures the
existing corporate reputation.

The main characteristic of corporate communication that determines the

transparency of a company with its different stakeholders is its condition of
proactive communication. This type of communication is the one that not only
focuses on the news, but seeks to involve all audiences, especially employees
and customers, so that they participate actively in the communication process,
thus becoming an open and transparent process.

▪ Corporate Reputation

This reputation is given by the corporate image of a company, and allows us to

obtain an overview of a company. It is measured from a large number of
indicators, among which it is interesting to highlight the Spanish Reputation
Monitor, which includes six measurement variables:

- Economic and financial results

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- The quality of the product or service

- The corporate culture and the quality of work

- The global dimension and international presence

- Innovation

- Ethics and corporate social responsibility, which measures business ethics,

commitment to the community and social and environmental responsibility.

Thus, we can state that communicating CSR is an act of transparency to the interlocutors
and, at the same time, it is a communicative strategy that helps us to promote the
corporate reputation among the same interlocutors.

6.4.2. Principles and purposes of external communication

In business communication we can identify the coexistence of two types of public; those
who live inside a company and those who do not live inside it but need it. That is why it
is very important that a company maintains communication with these external
audiences, so that, as with the internal public, they know the company’s progress and
improvement as well as its different activities, especially in CSR material.

We define external communication as a process that consists of conveying information

from a company or organisation to the public opinion as a whole through social media.

There are three types of external communication:

▪ Operational external communication: it is prepared for the daily development

of the business activity and it is established with all external audiences of the
organisation; customers, suppliers, competitors, public administration, etc.

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▪ Strategic external communication: the purpose of this type of communication

is to know the possible data of the competition, the evolution of the economic
variables, changes in labour legislation, etc., which can be decisive for the
communicative position of the organisation.

▪ External communication of notoriety: its purpose is to show a company as an

institution that provides information by publicising its products, activities,
improving its image, etc. This type of communication would be carried out based
on advertising, promotion, sponsorship, donations, etc.

During the communicative process a company must disseminate the

information, whether good or bad and internally and externally, when and as it
deems appropriate, through the communication tools available to it.

A company can, and should, report aspects related to:

- The evolution of sales.

- The results of your fiscal year.

- The creation of new jobs.

- The introduction of new technologies.

- The destination of your sales.

- The volume of exports.

- The inauguration of new factories, centres or establishments.

- Your patronage, sponsorship, etc. activities.

The information presented must meet the following characteristics:

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- It should awaken the interest of the media as well as the organisations that a
company has an interest in keeping informed, such as customers, shareholders,
financial entities and state agencies.

- This information must be chosen in a cautious manner in order to be transmitted

effectively.

- The message presented must be adapted to the target audience, and conveyed
through the appropriate channel.

Linked to this last characteristic, the way of transmitting information abroad can be
done through:

- Press releases or documentation from the company, such as reports, brochures,

magazines, etc.

- Permanent contact with journalists responsible for the sections on economy,

culture and society.

- Different means of communication with which a company contacts at the time of

releasing some new information.

- Press conferences. They are usually organised when information of an urgent

nature has to be transmitted, and all means of communication are convened;
written and audiovisual.

It is important to emphasise that a company must always offer truthful and real
information, and that the continuity and the veracity of information are the two
elements that make up the information transparency. This requires anticipating the
facts, anticipating what may be interesting for the media and offering them to broadcast
it and in return be willing to respond to requests made by them.

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Among the resources that the company uses to publicise its activities:

✓ Patronage and sponsorship

✓ Intervention and organisation of fairs, congresses and exhibitions

✓ Continuous attendance at all types of events and conferences related to

important issues in the sector

✓ Presenting monographs about your business activity

✓ Carrying out advertising and advertorials

✓ External communication magazines

✓ Open doors days and activities that will help reinforce the culture and business
image at the local, national and international level.

Thus, and finally, it is important to stress the importance that internal communication,
but above all external communication, has in a company in order to improve and take
care of its public image. Taking care of the external image of a company is aimed at
valuing the organisation’s effort to contribute to the social and material progress of the
community.

6.4.3. Patronage and sponsorship

As we have pointed out in the previous section, there are multiple external
communication resources that companies or organisations might use. In this section we
will talk about patronage and sponsorship since they are the most used resources.

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▪ Business patronage

Patronage is defined as:

“Vocation of a company to revert to society part of the benefits it derives from it, in
the form of social benefit since it is a company itself that guarantees its existence. In
this sense, the monetary or in-kind aid through which the patronage materialises has
a high altruistic component on the part of the patron.”

Thus, we can say that it is the financial or material support of a company contributed to
a person or work for the exercise of activities that have a character of general interest.

Currently, patronage is part of many Spanish companies, and since 1992 it has been
focusing on the development of solidarity actions and in the field of the environment.
There are many companies that currently develop sponsorship activities, and many of
them do so through corporate foundations linked.

Some of these Spanish companies are:

▪ BBVA: BBVA Foundation

▪ La Caixa: La Caixa Foundation

▪ Caja Madrid: Caja Madrid Foundation

▪ Carrefour: Carrefour Foundation

▪ Eroski: Eroski Foundation

▪ Michelin: Michelin Foundation

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▪ Sponsorship

When we talk about sponsorship we mean:

“A structured communication technique, through which a commercial entity (sponsor)

offers resources in monetary or in kind to an organisation, event or cause (sponsored)
with the aim of achieving a direct benefit by associating its corporate or brand image,
products or services with the activity or sponsored entity. It is the equivalent to the
term sponsoring which, as indicated by its Anglo-Saxon origin (sponsor) appeared for
the first time in England and was associated initially with sporting events, especially
the ones carried out by companies in the economy sector”.

In this way, we can determine that it is the contribution made to a demonstration, a

person, a product or an organisation in exchange for which a company obtains the direct
benefit of the right to include brand advertising.

The advantages that a company derives from the implementation of actions and
activities related to patronage are the following:

▪ Creation and development of a positive image of a company at the origin of its

social environment.

o There are many companies that carry out this type of action on
operations of general interest in the community trying to counteract the
poor opinion that is sometimes caused in some sectors of society.

▪ Construction of alternative means of communication that reaffirm their social

identity.

o This type of practice allows a company to strengthen ties with its external
audiences outside the traditional market terrain. In addition, it creates

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more attractive meetings that facilitate social dialogue and its

appearance on the current scene.

▪ Taking advantage of more advantageous fiscal and financial conditions.

o In many European countries, patronage benefits from a tax exemption

system that is attractive to businesses. According to the most advanced
legislations, most of the application modalities in the matter of patronage
(donations, participations and foundations) generate deductions in taxes
for companies and on the social charges of the equipment made available
to the beneficiary.

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