Glossary:
19. Strategic Corporate Social Responsibility
| Term | Definition |
|---|---|
Alignment | The process of ensuring that CSR initiatives are in line with broader business goals and objectives. |
Business Ethics | The principles, values, and standards of conduct governing the behaviour of individuals and organizations in the business world, encompassing integrity, fairness, honesty, and responsibility towards stakeholders and society. |
CSR | CSR (Corporate Social Responsibility): A business approach that encourages companies to be socially accountable for their impact on society and the environment, involving voluntary actions beyond legal requirements to address economic, social, and environmental concerns while striving for sustainable development. |
Employee Engagement | The extent to which employees are emotionally committed to their work, organization, and its goals, often reflected in their enthusiasm, dedication, and discretionary effort to contribute to the company's success. |
Impact Investment | Investing in companies, organisations, or projects with the intention of generating positive social or environmental impact alongside financial returns, aiming to address specific societal or environmental challenges while seeking financial profitability. |
Integration | The act of incorporating CSR and sustainability initiatives into the overall business strategy. |
Long-term value | The creation of lasting benefits for both the company and society. |
SDG 8 | SDG 8 refers to the United Nations Sustainable Development Goal 8, which aims to "Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all." |
Strategic | Pertaining to the careful planning and execution of actions to achieve specific goals. |
Sustainability | The practice of meeting present needs without compromising the ability of future generations to meet their own needs. |
