Secretary of State Hillary Clinton presented Cisco along with Denimatrix and Mars, Inc., with the 12th annual Award for Watch the ACE 2010 ceremonyCorporate Excellence (ACE). The ACE is given to U.S. businesses that exhibit good corporate citizenship, promote innovation, and advance democratic principles around the world. Cisco received the prestigious ACE for helping to connect the Israeli and Palestinian economies and people, and engaging in several partnerships and initiatives to enhance technical capacity, connectivity, education, and opportunities for women and youth in Israel, the West Bank and Gaza.
Secretary Clinton invited Cisco Chairman and CEO John Chambers “to accept this ACE Award for your efforts to create jobs, improve lives, and lay the groundwork for lasting peace.”
Corporate Social Responsibility (CSR) is not what it was a few years ago, and, as we learned in our latest episode of Talk2Cisco, it goes far beyond pure philanthropic efforts. Kathy Mulvany, Senior Director of Corporate Affairs at Cisco and Jennifer Biringer, Director at SustainAbility, a think tank and strategy consultancy based in San Francisco, CA bring their expertise and insights around the evolution of CSR in the latest broadcast.
Highlights from Talk2Cisco: The Evolution of Corporate Social Responsibility
01:34 Definition of Corporate Social Responsibility (CSR)
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How the networked platform is changing the face of philanthropy.
Many social media professionals are already familiar with Chris Anderson’s Long Tail, but if you’re not, here’s the concept in a nutshell. Traditional markets have tended to follow an 80/20 distribution, e.g. 80% of the populations are going to love 20% of the available bands (think the Beatles). That’s your macro market. The introduction of e-marketplaces has added infinite shelf space to many industries, the most obvious being the music industry. Enter the age of Indie bands, and infinite Micro markets. The interesting thing about the 80/20 rule is when the networked platform is introduced is that 80% of the potential market rests on lower end of the individual market size, i.e. the success of Rhapsody and iTunes.
Today, we released our sixth annual corporate social responsibility (CSR) report. We are pleased to provide information about the progress we have made, and the work we still have in front of us, in the areas of employee engagement, the environment, corporate governance and ethics, social investments and value chain.
Cisco’s approach to CSR is like other areas of the business where we consider the long term impact that we can have versus taking a purely transactional view. We encourage you to read more about Cisco’s CSR efforts and tell us what you think.
Watch the video with Tae Yoo, senior vice president of corporate affairs, and John Chambers, Cisco chairman and CEO, discussing why CSR is good for business and society.