The Four Ps of Responsible Business
RSA have developed a “Responsibility Scorecard” based on Rodger Spiller’s PhD research. This is used in our training courses with companies. The Four Ps are:
Purpose: the company's stated reason for which it exists. A responsible business will explicitly include environmental, social and economic wealth creation within its statement of purpose.
Principles: these are the beliefs that guide the Company’s action. Responsible businesses explicitly state and follow a clear set of principles reflecting core values and virtues.
Practices: these are the actions that a company takes to fulfil its purpose. It is at the level of business practices that the true test of environmental, social and economic wealth creation occurs, as practices reflect the application of purpose and principles.
Performance Measurement: this involves the company reporting on how its practices have impacted its stakeholders, reflected its principles and created environmental, social, and economic wealth.
The Scorecard is a tool that businesses are encouraged to consider to better understand their own Four Ps and areas of strength and concern. RSA’s focus is to provide education about responsible business training regarding their use. RSA itself is not currently producing Scorecards.
Celebrating Success: Ethical Awards and Rewards
RSA recognises the importance of celebrating strengths and acknowledging achievement so on an annual basis is involved in awards that recognise companies doing well and doing good. These awards apply similar criteria as for the practices identified as strengths in the RSA Scorecards. This raising of the profile of responsible business helps to encourage awareness amongst the wider business community of how all business can make money and make a difference. Finalists from the awards are profiled on www.nzcbesd.org.nz
