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CSR Index as a Strategic Management Tool in Croatia - phase one and two

The European Union, with its key strategic framework also known as a Lisbon Agenda, prescribed corporate social responsibility (hereafter CSR) as a base model for its competitiveness due to the fact that its aim was to make the EU the most competitive and dynamic knowledge-based economy in the world capable for sustainable economic growth with increased employment, better jobs and greater social cohesion. Therefore, in 2006, Croatian Chamber of Commerce and Croatian Business Council for Sustainable Development with the support of the UNDP office in Croatia and AED, launched CSR index project, to develop, together with independent local experts, a methodology for assessing voluntary CSR practices of Croatian companies. After a two-year development process the index was launched in 2008. The initial purpose was to present common interest for mutual cooperation and consultation of all the involved stakeholders in order to increase understanding of CSR responsibility and development of evaluation methodology for socially responsible practices among Croatian business entities. Ultimately, the goal was to initiate prize designing which would be annually awarded for socially responsible business practices. The used methodology is context specific but developed in accordance with similar ones like the Business in the Community Corporate Responsibility Index. The index is implemented through specific a questionnaire which was answered by organizations after they were directly invited to access the filling process. Only economic entities that showed positive economic record and were rated among 500 most successful in Croatia in their category for the last fiscal year, according to pre-developed criteria had the opportunity to participate in the evaluation. The questionnaire is developed around six different fields and its desire was to represent strategic management and knowledge development tool. Completing the questionnaire was on a voluntary basis and it provided a comprehensive insight into the practice of socially responsible businesses and identified areas where it is possible to achieve concrete and constructive steps forward. It also provided measurable benchmark to companies which are committed to managing, measuring and reporting their impact on society over years, in order to allow sustainable economic growth, manage risk, promote best practice and show clear reference. At the moment it is regionally a wis, e single most complex business-led measure and the benchmark of corporate social responsibility available.

development; index; corporate social responsibility; benchmark

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