Eric-Theodore Yepao Explains How Corporate Leaders can be Socially Responsible
Corporate social responsibility, a term that describes how a company interprets its duties to overwhelming economic, environmental, and social difficulties that require immediate assistance, is a significant yardstick that corporations are measured by today.
How, then, does a business properly commit to delivering a noticeable, impactful corporate social responsibility that the greater public will latch onto?
Eric-Theodore Yepao, an ethical investor who practices all over Europe, including Paris, France, is the founder of Nordland Holding Europe, a company that aims to develop private cities or prosperity zones globally. Mr. Yepao shares a few helpful tips on how corporate leaders can learn to be socially responsible.
Listen to Your Stakeholders
A corporate leader should constantly keep his or her ears open when it relates to stakeholders, whether they are clients, consumers, or investors, Eric-Theodore Yepao confirms. Ask yourself how you are addressing their major concerns, where you can lend additional support on these delicate matters and, if open communication is lacking, why you are failing to convey your thoughts candidly. By speaking frankly with your stakeholders, you create the foundation for an ethical, stable business, since these inquiring minds appreciate consistency and honesty. An annual report sent to stockholders, for instance, can be beneficial, while a social media presence that encourages consumer feedback is equally effective. All levels of management need to be steadfast in their view of this approach as well, ensuring that it represents the company standard.
Consider the Reputation You Desire
Eric-Theodore Yepao advises corporate leaders to examine their reputation because it is highly indicative of how legitimately invested they are to being socially responsible. A company’s reputation can be dismantled rapidly due to negligence, ignorance, or an impassive attitude towards ethical practices. As a corporate leader, the onus is on you to possess an inspiring, infectious school of thought that will trickle down to the rest of the company’s workforce. Accurate accounting, avoiding negative media coverage, producing a positive company image, and respecting contracts are a few examples of how a corporate leader can attain a socially responsible reputation. Conduct yourself, both internally to the company and externally to the public, in a dignified manner.
Embrace Ethical Practices
When a corporate leader adheres to ethical policies and processes, he or she proves to be dedicated to maintaining a socially responsible business, says Eric-Theodore Yepao, founder of Nordland Holding Europe. A number of companies employ an external auditor, for example, to review their financials and offer advice on how to pass on sensitive information to the general public. Similarly, legal consultants can provide companies with useful information on ethical human resource practices. Customer focus groups keep the business focused on the consumer’s desires and needs. These constructive decisions show a corporate leader as a socially responsible individual because of their commitment to fair practices. Such a belief system demonstrates that he or she is not interested in taking advantage of people, resources, or the environment callously.
Solidify Leadership Within the Company
Corporate leaders must be able to motivate their employees to work as leaders in their own regard, Eric-Theodore Yepao notes. After all, leadership is a choice rather than a position, so you should invigorate your associates and employees to emulate your actions. Although they will not possess the power or decision-making ability that you do, they are imperative to the company’s overall sustainability and reputation of corporate social responsibility. Inform them of how sustainability is a significant aspect of their duties and that they have a choice to be leaders. Once this mode of thinking is ingrained in all employees, you will be able to groom managers from within the company who are accountable, courteous, open to communication, and consistent in their approach.
Be Conscious of Who Your Decisions Affect
A socially responsible leader realizes that his or her choices have an impact on various stakeholders within the company, says Eric-Theodore Yepao. Addressing that knowledge, in their decision-making process, these leaders consider the organization’s goals and the extent of their efforts to combat the modern-day environmental and social challenges that businesses encounter. On top of that, a corporate leader is socially responsible because they understand that shareholder value is propelled by managing the business for the benefit of all stakeholders (investors, suppliers, associates, clients, and communities in which they oversee business interests).