Great McKinsey Article on Integrated External Engagement

I recently read a great article from McKinseyQuarterly.com: "Beyond corporate social responsibility: Integrated external engagement." You can find it here.

The article argues:

"Traditional corporate social responsibility (CSR) is failing to deliver, for both companies and society. Executives need a new approach to engaging the external environment. We believe that the best one is to integrate external engagement deeply into business decision making at every level of a company."

The article goes on to note "Many executives recognize their current approach is inadequate." They suggest, based on their experience at McKinsey and British Petroleum, that organizations need to do four things to better engage stakeholders:

1. Define what you contribute
2. Know your stakeholders
3. Apply world-class management
4. Engage radically

They go on to discuss each of these in turn. I highly recommend the article.