Thanks to a social media culture that reveres transparency and demands accountability, companies today are seen through the critical lens of the Triple Bottom Line: People, Planet and Profit. Corporate Social Responsibility (CSR) states that businesses should act as stewards of society, the environment, and the economy. The social media spotlight brings accolades and new business for companies that give back, while brands behaving badly are pilloried in online communities like Twitter and Facebook, followed by the mainstream press.

Here are 5 tips:

1. Commit & Lead

A CSR strategy begins with a long-term vision and commitment from the top. The CEO’s vision should be shared through social media so supporters can engage with the brand, provide feedback, and become "evangelists".

2. Listen & Learn

It’s important to assess the needs of the communities where you do business to determine which social issues to address. Many companies provide assistance to neighborhood programs, like books for libraries or food banks. The work humanizes the brand while strengthening the community.

3. Innovate

Some companies leverage social media to encourage spontaneous and innovative ways to help others. Last month, Yahoo users and employees were asked to update their status with stories about helping others, which were the campaign received over 300,000 status updates and global participation from 11 countries.

4. Communicate

CEOs can use social channels to tweet, blog and post updates about CSR initiatives. Make it a key topic at meetings, press briefings, and trumpet it through all marketing channels. It’s critical to communicate CSR positions to encourage brand enthusiasts to get involved.

5. Invest

According to the Social Investment Forum (SIF), a trade association advancing the practice of socially responsible investments, about two-thirds of socially responsible mutual funds in the U.S. outperformed industry benchmarks during the 2009 economic downturn, most by significant margins.

http://mashable.com/2010/02/02/corporate-social-responsibility/