**5. Results**

**1.** BMW Group, Automobiles and Components (Germany): The company was founded in 1916 in Munich. BMW has three brands: BMW, Mini, and Rolls-Royce. By developing, manufacturing, and selling automobile vehicles and motorbikes as well as being involving

**2.** Nestlé, Food, Beverage and Tobacco (Switzerland): The company was founded in the mid of the eighteenth century. It is a leader in the Nutrition, Health, and Wellness Industry. Nestlé is characterized by its support to innovation, research, and development. The company's research not only focuses on their food and beverage portfolio (over 2000 brands) but also conducts research to help people improve their health. From its "global" strategic

**3.** Philips, Capital Goods (Netherlands): Philips operates the following businesses: personal health, diagnosis, and treatment; connected care; and health informatics and lighting.

**4.** HPE, Technology Hardware and Equipment (United States): Hewlett Packard Enterprise was founded in 2015 after the splitting of the HP. It is a business-focused organization that works in servers, storage, software, and financial services. The company aims to increase

**5.** LG Electronics, Consumer Durables and Apparel (Republic of Korea): This Korean-based manufacturer employs more than 77,000 people. Its main activity reaches from home entertainment to home appliance. By offering products such as the OLED TV or the sponsorship of Formula 1, LG Electronics has gained a strong positioning. Besides, LG also

**6.** Unilever, Household and Personal Products (Netherlands): The company has more than 400 brands. The company is a leader in the household and personal products industry. The company has increased its market presence, and it currently employs more than

**7.** Roche, Pharmaceuticals, Biotechnology and Life Sciences (Switzerland): The company is the world's largest biopharmaceutical company. Roche is a leading company in fields such as *in vitro* diagnostics, oncology, and the personalized healthcare. Roche employs more

All these companies have integrated a sustainable strategy that takes into account an Environmental, Social, and Governance (ESG) approach and lead business reputation across

The research is based on case studies [35]. This approach was chosen because it allows us to identify and explain in-depth features of the research goals: (i) analyze how multinational

than 90,000 people, and it has increased sales in major market during 2016.

in financial services, BMW and its brands have a clear premium positioning.

approach, Nestlé has gained recognition among worldwide audiences.

Philips employs over 105,000 people and operates in 25 countries.

efficiency among IT environments.

122 Corporate Governance and Strategic Decision Making

research to improve energy efficiency.

168,000 people.

multiple markets.

**4. Methodology**

We summarize the results of this analysis in **Table 1**. **Table 1** highlights main topics related to corporate identity, CSR strategy, shared value approach, Sustainable Development Goals (SDGs), and online corporate communication channels.

It is relevant to mention that the companies link corporate identity to CSR approach. The whole sample runs sustainability issues by following the framework given in its identity. For instance, while BMW insists on a corporate identity defined as "We shape tomorrow's individual premium mobility," the company focuses on a CSR strategy that leads to ten strategic areas closely related to sustainable mobility, products, production, and employees. The strategy considers the importance of footprint and innovative responsible business. Thus, the Group pursues CSR activities that lead to a *tomorrow's individual premium mobility.*

Besides, companies such as Unilever align corporate identity with its whole CSR strategy. This company asserts that its motto is to *make sustainable living commonplace.* To follow this identity, the company has already set out three big goals: improving health and well-being, reducing environmental impact, and enhancing livelihoods. The three of them pursue a *transformational change* in the corporation's business and affect the CSR perspective.

This kind of approach is related to literature review and enhances that reputable and responsible companies have already understood that corporate identity must define the intangible asset management, especially, when these companies are managing ambitious CSR strategies (**Table 1**).



**Company**

**2016** 

**Brand identity**

**CSR strategy**

**Shared value** 

**Stakeholder** 

**SDG mentions**

**Online corporate** 

**communication** 

**channels**

**dialogue**

**approach**

**Global** 

**Reptrak** 

**rank**

BMW

4

We are Number

Ten strategic

Growth leads

To create

A framework

Four. Facebook, Twitter,

YouTube, and Content. CSR,

sponsorships, product

124 Corporate Governance and Strategic Decision Making

development.

Google+.

sustainability goals

to for

capital providers,

attractive salaries

for the

constant

and

societal

challenges used

in

strategic meetings.

development

of ideas.

increased benefits

a

comprehensive

for

to

environmental

solutions

learning process

ONE. We inspire people on the move.

for

2020. Three main

areas: (a) Products

We shape tomorrow's

and

services, (b)

for

employees

and, through

greater income tax

Currently dealing

with challenges.

urban mobility

payments, more

benefits to society.

Production and

creation, and (c)

Employees and

 society.

 value

individual

premium mobility.

Nestlé

22

We are the leading

Thirty-nine

Being a

is an

to

create long-term

positive value

opportunity

the

company

receives

independent

global leader

To ensure

SDG2, SDG6,

Eleven. Twitter

SDG12, and are aligned with

Creating Shared

Value strategy.

and

Insights), Flickr,

YouTube, Tumblr,

Pinterest, and Content. CSR, corporate

Issues and events.

Google+.

 its

SDG 13

(corporate and care), Facebook,

LinkedIn (Careers

consumer

commitments for

 2020.

Five main areas: (a)

Nutrition, (b) rural

development, (c) water,

for

society. Creating

opinions

and

feedback.

Currently running

meetings about

value chain

and the

of strategy.

its shared value

promotion

Shared Value must

(d) environmental

sustainability, (e) our

be

embedded

across all parts

people, human rights,

Nutrition, Health

and

Wellness

Company.

We with nutrition and health

solutions for all

stages of life,

and

compliance.

of the

business.

helping consumers

care for

and

> Philips

23

Mission.

A new plan called

Not mentioned.

in and

to with

multiple

stakeholders.

Especially,

employees,

customers,

suppliers,

governments, NGOs

and

Investors.

interact

of

to the

CSR strategy.

and

corporate issues.

their link

forums

meeting

To participate

SDG2 and are some of the most

important because

and

Facebook.

Content. CSR

SDG12

Five. Pinterest, Twitter,

Facebook, Google+

"Healthy people,

sustainable plan"

(2016–2020). Three main

areas: a) sustainable

solutions, b) sustainable

operations, and

 c) sustainable supply

chain.

To

improve

people's lives

through meaningful

innovation.

Vision. We strive

to

make the world healthier and more sustainable through

innovation.

their families.

themselves

science-based

enhance lives

contribution.


**Table 1.** Key findings.

#### **5.1. Shared value approach**

The Porter's Creating Shared Value seems to be misunderstood among sample. Especially because these companies make no distinction between shared value and "create value." While Nestlé rightly underlines that "being a global leader brings not only a duty to operate responsibly, but also an opportunity to create long-term positive value for society," other companies underscore that creating value refers to the redistribution of wealth among stakeholders by increasing profitable growth or providing the products or services companies offer. Thus, in these cases, the value creation involves a sort of indirect effects on stakeholders (derived from the business itself) but does not demand any kind of specific effort within the company. Nevertheless, companies such as Nestlé and Unilever have implemented some strategies that are aligned with the concept:


However, most of the sample endorses "creation of value" by offering products or services that improve societies but undervalues the accurate meaning of shared value. Thus, some of these companies deploy ambitious CSR initiatives, but there is no link to the concept of shared value. Despite the fact that these companies are leaders in CSR, the shared-value perspective is not part of their corporate narrative, especially, because they do not encourage the original meaning of "Creating Shared Value" that involves a commitment with stakeholders to improve the relationship with each of them as well as to benefit the society.

#### **5.2. Endorsing stakeholder dialogue**

**Company**

**2016** 

**Brand identity**

**CSR strategy**

**Shared value** 

**Stakeholder** 

**SDG mentions**

**Online corporate** 

**communication** 

**channels**

**dialogue**

**approach**

**Global** 

**Reptrak** 

**rank**

Unilever

89

To make

Unilever Sustainable

Creating

To inform its

SDG2, SDG5,

Seven. A

web page

that includes "topics

decision-making,

and some of the SDG

of

interest for its

visitors." Also, a

 web

126 Corporate Governance and Strategic Decision Making

page called "Join In,"

mentioned

SDG5 are

strengthens its

relationships,

"transformational

change" to whole

systems, not

simply incremental

and

help them

as well as the aim

to

eliminate

a

section that brings

together different topics

deforestation

deliver its

improvement,

to make a

in

those big issues

and as a

business.

succeed

and sustainable

agriculture. Unilever

and YouTube, and

Content. The page landed in

of the

of focused on CSR

and the initiative.

Roche

90

Doing now what

Roche seeks to

 deliver

To create value

To earn the trust

Roche focuses

Six. Twitter, LinkedIn,

Facebook, YouTube,

on SDG3.

The

company also

and

Pinterest.

Content. The talks not only about

corporate issues but

also about CSR topics.

Facebook is more related

to

careers rather than

corporate issues.

company

links sustainable

strategy areas

with SGDs.

through developing

of Roche's stakeholders

medical solutions,

sustainable business

growth and

value by

five areas: (a) sustainable

and for as

to as

possible

(specifically,

patients, employees,

partners,

environmental,

and

> **Table 1.**

Key findings.

communities).

benefit from them

many people

Roche aims

and

understand

their concerns.

healthcare, (b)

responsible business, (c)

employees, (d) energy

and the

and support.

(e) community

environment,

patients need next

#collectiveaction

channels are quite

users. The rest

country

Facebook

LinkedIn.

Facebook, Twitter,

also manages

"the collective

action," a

to

change the way

business is done.

campaign

mainstreaming

and the hashtag. Surveys

#collectiveaction

that matter most

to business

and to the world.

Unilever's

difference

commitments

Living Plan sets out

three big goals: (a)

Improving health

and

well-being, (b)

reducing environmental

impact, and (c) enhancing livelihoods.

sustainable living

commonplace.

The sample shows a very particular interest in stakeholder relationships. The companies underscore the importance of having a frequent and transparent link to different audiences. The opportunity to get *independent opinions and feedback, learn from stakeholders, evaluate the ethical and environmental issues, contribute to industry-leading initiatives,* and *earn thetrust of audiences* are some of the reasons why companies are running stakeholder dialogue across multiple markets.

Beyond improving CSR strategies and ethical commitments, the stakeholder relationships are focused on increasing business efficiency and facing the competition with a very welldesigned business approach based on audiences' feedback. Although this might seem far from the CSR perspective, the truth is that companies also dialogue about ethics and intangible assets to obtain a holistic frame of stakeholder's expectations.

The common approach to mapping stakeholder relationship involves the following process: the companies first prioritize groups by following internal decisions and analyzing opportunities and risks. Then, the corporations set up a communication plan and define stakeholder's goals. Once they have established the goals and communications procedures, the companies monitor needs and manage the communications goals.

These corporations usually establish specific communication channels to disseminate corporate information and gain feedback. It is common to outline the following media: regular meetings, surveys, webinars, joint projects, consumer panels, working groups, research projects, and road shows.

In addition to this constant process, the sample asserts that it is common to run specific forums to deal with complex topics or major issues:


Value strategy. In 2015, the company organized two stakeholder meetings. The 2015 Nestlé sustainability Report also announced the Biennial Creating Shared Value Global Forum, which was going to be held in 2016 to discuss about "Investing in Sustainable Development in Africa."


#### **5.3. Promoting Sustainable Development Goals**

The opportunity to get *independent opinions and feedback, learn from stakeholders, evaluate the ethical and environmental issues, contribute to industry-leading initiatives,* and *earn thetrust of audiences* are some of the reasons why companies are running stakeholder dialogue across multiple

Beyond improving CSR strategies and ethical commitments, the stakeholder relationships are focused on increasing business efficiency and facing the competition with a very welldesigned business approach based on audiences' feedback. Although this might seem far from the CSR perspective, the truth is that companies also dialogue about ethics and intan-

The common approach to mapping stakeholder relationship involves the following process: the companies first prioritize groups by following internal decisions and analyzing opportunities and risks. Then, the corporations set up a communication plan and define stakeholder's goals. Once they have established the goals and communications procedures, the companies

These corporations usually establish specific communication channels to disseminate corporate information and gain feedback. It is common to outline the following media: regular meetings, surveys, webinars, joint projects, consumer panels, working groups, research proj-

In addition to this constant process, the sample asserts that it is common to run specific forums

• BMW runs two different formats: BMW group dialogue (with expert and leaders form different industries) and BMW group student forums. Both try to identify opportunities, manage and shape reputation, and reduce risk. The group is currently dealing with urban mobility challenges. This kind of perspective allows the company to not only improve its business strategy but also integrate sustainable approaches so the relationship with CSR is

• LG Electronics started a semiannual stakeholder consultation from 2010. This is an internal panel, presided by an independent expert in CSR who leads dialogue about environment,

• The Unilever Sustainable Living Lab attracts people form governments, NGOs, and business to discuss online about sustainable issues. Over 15,000 registrants from 77 countries

• Roche's website provides KPIS to stakeholder so that they can monitor progress in relevant CSR areas. The company fosters transparency by updating the status of these KPIS in a simple way. Roche builds up the KPIs by running annual sustainability forums with patient organizations, government officials, customers, health care professionals, the scientific

• Nestlé promotes stakeholder dialogue by organizing events. The main topics of these meetings are related to value chain issues and the way to improve and foster its Creating Shared

have participated and more than 4000 comments have been shared.

gible assets to obtain a holistic frame of stakeholder's expectations.

monitor needs and manage the communications goals.

to deal with complex topics or major issues:

product safety, accessibility, and disabilities.

markets.

128 Corporate Governance and Strategic Decision Making

ects, and road shows.

close enough.

community, etc.

The analysis shows that SDGs has been adopted by sample. In only one and half year, some of the most reputable companies have started implementing coherent discourses about SDGs. **Table 2** describes the relationship between SDGs and companies. The information has been noted by analyzing specific mentions within both sustainability reports and websites:

The SDGs business agenda 2030 has specifically focused on "Good health and well-being" (SDG3) as well as "Responsible consumption and production" (SDG12). These are some of the main topics in companies such as Nestlé, Philips, LGE, and Roche. These corporations are carrying out worldwide initiatives to increase life expectancy and reduce common killers associated with child and maternal mortality. We can find some examples of its commitments:



**Table 2.** SDGs implementation.

Despite the interest in SDG, the information given provides a lack of clarity. The sample holds and endorses a responsible positioning on SDGs. However, the reporting is not clear. The companies support the goals and underline the main objectives, but the sample has tried to link preexisting initiatives to current UN Goals. The reporting thus is confusing because stakeholders are not able to conclude whether SDGs have been endorsed or simply adjusted. It would be a good idea to provide a final index (such as companies do with GRI) in which readers could find specific content related to every SDG. Furthermore, the analysis has shown that the SDGs' Goals are closely related to business and CSR strategy. It may be better to display a complete SDG status to explain why and why not they partly handle the goals.

#### **5.4. Online CSR dissemination**

The sample provides corporate information in social media and owned media (websites, corporate blogs, and press releases). Most of the CSR issues are disseminated by traditional channels such as web pages or sustainability reports, but they also use social networks (see **Table 1**). Nevertheless, some companies have developed new ways to communicate its commitments or receive feedback.


In short, the companies have added the CSR discourse to its communication channels. Some of the companies share both corporate information and CSR. However, some corporations have set up specific channels to promote or receive CSR feedback among stakeholders. It is not clear which is the best strategy. While the use of corporate channels might be appropriate to show CSR as a clear commitment within the business, the use of CSR-oriented social networks may allow companies to increase CSR awareness and gain valuable information about stakeholder's expectations.
