University of Vaasa - Vaasan yliopisto

• Electromagnetism and impact on local communities
These areas guided the process of research and development, and helped the
company to develop new products and innovative solutions that form an integral part
of its business portfolio.
On the lower right-hand corner of the matrix are located companies whose approach
to CSR has been termed social values-driven. For the companies in this quadrant,
CSR has strategic relevance (according to the previous measurement scale) but is not
supported by a formal management process devoted to it. This kind of situation
generally arises when CSR is deeply embedded in the company's values and culture,
and there is a strong commitment on the part of the CEO and senior management.
One example of such an approach is the case of company E, described in the box
below.
Company E: Social Values-Driven CSR
Company E's vision and mission are centred on CSR values. The vision of the
company asserts that it seeks to “be the first in quality, freshness and goodness for
people's pleasure and well-being”. Its mission statement is: “To create value for
stakeholders in the process chain and work to develop the following objectives [for
each stakeholder, the company describes the main goals it has set for satisfying the
needs of that stakeholder]; to express, through a strong corporate culture and
concrete actions, a commitment to protecting and safeguarding the environment and
to behaving ethically in economic and social relationships”. In addition, company E
has developed a quantitative approach to measuring the impact of CSR commitment
on some critical success factors.
Although the above elements indicate that CSR has strategic relevance and plays a
central role in its business, company E does not have an independent BU devoted to
these issues, but only a CSR manager. In the past two years it has produced neither a
social report nor any other formal document, and the CSR management process is
not structured (aside from the stakeholder dialogue phase). Company E seems to
have no need for a structured CSR management process because its values and
principles have been truly embedded in its business model from the outset, or at least
since the company's restructuring in the 1990s. The corporate website states: “In the
1990s this was a company on the brink of collapse. The new management
reformulated the business model according to principles "instinctively" inspired by
sustainability: the focus on high quality (essential for revitalizing the fresh milk
market with a product that delivers value, to both the domestic livestock agroindustry
in terms of profits, and to consumers in terms of nutrition), internal
involvement ( no crisis situation such as that experienced by the company could have
been solved simply through a "command and control" management system, but
instead required emphasis on engagement through participatory models, and finally
economic-financial disclosure ( i.e. an open and transparent approach to banks,
which were at that time the true principal shareholders, given the high level of debt).”
93