MONTEREY, Calif. -
* Identifying the strategic focus. "You are looking for that spot that allows to have both a social benefit and a business advantage," said Weiser. "I want to be clear, charity is great, but you can only use a little bit of your profits or a little bit of your capital for charity."
To identify the strategic focus, Weiser said the questions to be asked are:
* What are the core business challenges we face?
* What social impacts does society hold us responsible for addressing?
* What are the ways in which addressing social?
The Stages of Social Impact Management Development, according to Weiser:
Defensive. "It's not my problem." That's when organizations deny practices, outcomes or responsibilities, or fight regulations.
Compliance. That's when organizations accept regulation and compliance as a cost of doing business.
Managerial. That's when organizations embed the societal issue into managerial processes.
Strategic. When organizations integrate the societal issue into core business strategy.
As an example, he pointed the original objections by the auto industry to emissions standards and environmental standards. Now, so-called hybrids such as the Prius are points of strength. GE and Home Depot have also made environment points of sale.
* Creating A Social Impact Management Strategy
"The most important thing is the context," said Weiser. "What is the 'burning platform? Why is it your credit union needs to do something? What is it that is so compelling that you have to get involved. Can you form a guiding coalition of boards or managers who are excited to do something. Can you build a shared vision?"
Once that's done, a credit union conducts an assessment, chooses priorities for focus, and builds the plan from analysis of strengths and weaknesses, opportunities and threats, and then rolls out the plan, he said.
