CSR Guidelines for the Financial Sector - page 43

AnnexD -How toDevelopaCSR Strategy?
For aCSR strategy to succeed it is important to base it on stakeholders’ expectations and opinions and the
organization’s values. The following diagram describes a process to follow to support you in creating aCSR strategy
for your organization.
CSR Strategy
This entails the following steps:
1. Core Leadership
2. Stakeholder Engagement
3. Alignment with business
4. Decide on direction, approach and focus areas
5. Prepare amatrix of proposedCSR actions and the business case for them
There is nomagic to this. The steps could be done in a different order or be called by different names, but taking
them all will increase the likelihood of the organization having a systematic and realizableCSR strategy.
Core Leadership
We discussed earlier the importance of having the commitment of the organization from the executive level.Without
the backing of an organization’s leadership, CSR strategies have little chance of success.
Core Leadership
CR initiatives
Priorities with business
Stakeholders’ engagement
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