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Inter National Bank Corporate Responsibility Strategy By Inter National Bank Corporate Responsibility Strategy by Lawrence Han, MBA/MS Candidate 2014 Jonathan Huynh, MBA/MS Candidate 2013 Daniel Gonzalez-Kreisberg, MBA/MS Candidate 2014 Javier Rivera, MBA/MS Candidate 2014 A project submitted in partial fulfillment of the requirements for the degree of Master of Science, Natural Resources and Environment at the University of Michigan February 2013 Faculty Advisor: Professor Scott Noesen Abstract This project’s objective was to create a Corporate Responsibility (CR) strategy for Inter National Bank (INB), a regional community bank in southern Texas, US. A modified CR strategy framework from the International Institute for Sustainable Development was adopted to guide the creation of a customized CR strategy for INB, resulting in a four stage approach. This staged analysis consisted of preliminary industry and CSR background research, on-site interviews, and capability testing, all of which informed the final stage: strategy creation. The analysis revealed three recommendations for INB. First, INB should develop initiatives centered on focus areas that are both proven and implementable. Second, INB should invest in an organizational structure to maintain the implementation of these focus area initiatives. Finally, INB management should revisit the four stage strategic process periodically to ensure that its CR strategy remains a relevant part of the organization’s business operations. In our survey to gauge INB employees’ understanding of CR, 78% of respondents provided a description that included community commitment, illustrating that a community focus should play a central theme in any of INB’s future CR plans. However, CR is often seen as a volunteer activity and gets pushed aside in favor of other business needs. As such, to execute our CR strategy recommendations, INB should internalize two overarching themes into its culture. First, CR generates less visible, but very tangible long term value for the bank. And second, CR goals need to be effectively and clearly communicated because a positive appreciation for CR can lead to increased customer and employee satisfaction. These two themes are critical for INB to build a strong foundation for a sustainable CR strategy. Table of Contents Abstract ......................................................................................................................................................... 2 Introduction .................................................................................................................................................. 7 Background ............................................................................................................................................... 7 Grupo Financiero Banorte .................................................................................................................... 7 Inter National Bank ............................................................................................................................... 7 Project Objectives ..................................................................................................................................... 8 Corporate Responsibility Framework ........................................................................................................... 9 A New Corporate Responsibility Framework .......................................................................................... 10 Phase 1: Preliminary Research ........................................................................................................... 10 Phase 2: Stakeholder Engagement .................................................................................................... 11 Phase 3: Capability Testing ................................................................................................................ 12 Phase 4: Strategy Advancement ........................................................................................................ 13 Application of New Corporate Responsibility Framework.......................................................................... 22 PHASE 1: Preliminary Research .............................................................................................................. 22 Corporate Responsibility (CR) in the Financial Services Industry ....................................................... 22 Corporate Responsibility in Community Banks .................................................................................. 27 Major Stakeholders of INB ...................................................................................................................... 30 Banorte ............................................................................................................................................... 30 The Community as a Stakeholder ....................................................................................................... 30 Corporate Responsibility (CR) Activities of Major Competitors.............................................................. 34 Summary of Findings............................................................................................................................... 36 PHASE 2: Stakeholder Engagement ........................................................................................................ 36 Interview Summary ................................................................................................................................. 36 INB Survey ............................................................................................................................................... 37 Demographic Survey ........................................................................................................................... 37 Understanding of Corporate Responsibility (CR) ................................................................................ 37 The Four Pillars ................................................................................................................................... 38 Employee Engagement ....................................................................................................................... 38 Existing INB Initiatives ............................................................................................................................. 39 E-statements ....................................................................................................................................... 39 INBudget ............................................................................................................................................. 39 Recycling & Keep McAllen Beautiful ................................................................................................... 39 Electronic Records .............................................................................................................................. 39 Server Virtualization & PC Energy ....................................................................................................... 40 Charity Drives (Races, Donations, etc) ................................................................................................ 40 PHASE 3: Summer Pilot ........................................................................................................................... 40 Pilot Development Process ................................................................................................................. 41 Banorte Viewpoint (4/24/2012) ......................................................................................................... 42 INB Viewpoint (4/26/2012) ................................................................................................................. 43 Selected Pilots ..................................................................................................................................... 43 CR Education Initiative ........................................................................................................................ 43 Energy Reduction Initiative ................................................................................................................. 44 Pilot Results CR Education Initiative ................................................................................................... 44 Energy Reduction Initiative ................................................................................................................. 45 Pilot Takeaways .................................................................................................................................. 46 PHASE 4: Strategy Advancement ............................................................................................................ 47 Relevance: Developing Strategic Objectives ....................................................................................... 47 Identifying Potential Focus Areas ....................................................................................................... 48 Proven Opportunities: Industry Benchmarking .................................................................................. 48 Implementable Opportunities: Evaluating Capacity and Engagement ............................................... 49 Identifying Focus Areas for INB ........................................................................................................... 51 Recommendations
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