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Stakeholder Engagement
Stakeholder engagement is the process by which an organization involves people who may be affected by the decisions it makes or can influence the implementation of its decisions. They may support or oppose the decisions, be influential in the organization or within the community in which it operates, hold relevant official positions or be affected in the long term. Corporate social responsibility (CSR) Stakeholder engagement is a key part of corporate social responsibility (CSR) and achieving the triple bottom line. Companies engage their stakeholders in dialogue to find out what social and environmental issues matter most to them and involve stakeholders in the decision-making process. Stakeholder engagement is used by mature organizations in the private and public, especially when they want to develop understanding and agreement around solutions on complex issues and large projects. An underlying principle of stakeholder engagement is that stakeholders have the chance to infl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stakeholder (corporate)
In a corporation, a stakeholder is a member of "groups without whose support the organization would cease to exist", as defined in the first usage of the word in a 1963 internal memorandum at the Stanford Research Institute. The theory was later developed and championed by R. Edward Freeman in the 1980s. Since then it has gained wide acceptance in business practice and in theorizing relating to strategic management, corporate governance, business purpose and corporate social responsibility (CSR). The definition of corporate responsibilities through a classification of stakeholders to consider has been criticized as creating a false dichotomy between the "shareholder model" and the "stakeholder model", or a false analogy of the obligations towards shareholders and other interested parties. Types Any action taken by any organization or any group might affect those people who are linked with them in the private sector. For examples these are parents, children, customers, owners ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
ISO 26000
ISO 26000 is a set of international standards for social responsibility. It was developed in November 2010 by International Organization for Standardization. The goal of these standards is to contribute to global sustainable development by encouraging business and other organizations to practice social responsibility to improve their impacts on their workers, their natural environments and their communities. The standards were designed to fit into an integrated management system. An organization's relationship with the society and the environment in which it operates is a critical factor in its ability to continue operating effectively. This standard is used as a measure for an organization's performance as it provides guidance on how it should operate in a socially responsible way. Structure The structure of ISO 26000 is as follows: #Scope #Terms and definitions #Understanding social responsibility #Principles of social responsibility #Recognizing social responsibility and engagi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Integrated Reporting
Integrated reporting (IR, or in International Integrated Reporting Council publications) in corporate communication is a "process that results in communication, most visibly a periodic “integrated report”, about value creation over time. An integrated report is a concise communication about how an organization's strategy, governance, performance and prospects lead to the creation of value over the short, medium and long term." It means the integrated representation of a company's performance in terms of both financial and other value relevant information. Integrated Reporting provides greater context for performance data, clarifies how valuable relevant information fits into operations or a business, and may help make company decision making more long-term. While the communications that result from IR will be of benefit to a range of stakeholders, they are principally aimed at providers of financial capital allocation decisions. IR helps to complete financial and susta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Materiality (auditing)
Materiality is a concept or convention within auditing and accounting relating to the importance/significance of an amount, transaction, or discrepancy. The objective of an audit of financial statements is to enable the auditor to express an opinion on whether the financial statements are prepared, in all ''material'' respects, in conformity with an identified financial reporting framework, such as the Generally Accepted Accounting Principles (GAAP) which is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC). As a simple example, an expenditure of ten cents on paper is generally immaterial, and, if it were forgotten or recorded incorrectly, then no practical difference would result, even for a very small business. However, a transaction of many millions of dollars is almost always material, and if it were forgotten or recorded incorrectly, then financial managers, investors, and others would make different decisions as a result of this error th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shareholder Value
Shareholder value is a business term, sometimes phrased as shareholder value maximization. The term expresses the idea that the primary goal for a business is to increase the wealth of its shareholders (owners) by paying dividends and/or causing the company's stock price to increase. It became a prominent idea during the 1980s and 1990s, along with the management principle value-based management or managing for value. Definition The term ''shareholder value'', sometimes abbreviated to ''SV'', can be used to refer to: * The market capitalization of a company; * The view that the primary goal for a company is to increase the wealth of its shareholders (owners) by paying dividends and/or causing the stock price to increase (i.e. the Friedman doctrine introduced in 1970); * The more specific concept that planned actions by management and the returns to shareholders should outperform certain bench-marks such as the cost of capital concept. In essence, the idea that shareholders' money ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sustainability
Sustainability is a social goal for people to co-exist on Earth over a long period of time. Definitions of this term are disputed and have varied with literature, context, and time. Sustainability usually has three dimensions (or pillars): environmental, economic, and social. Many definitions emphasize the environmental dimension. This can include addressing key environmental problems, including climate change and biodiversity loss. The idea of sustainability can guide decisions at the global, national, organizational, and individual levels. A related concept is that of sustainable development, and the terms are often used to mean the same thing. UNESCO distinguishes the two like this: "''Sustainability'' is often thought of as a long-term goal (i.e. a more sustainable world), while ''sustainable development'' refers to the many processes and pathways to achieve it." Details around the economic dimension of sustainability are controversial. Scholars have discussed this under ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Buy-in , when an outside management becomes a company's new management by buying it.
* "Buy-in" is a noun that means the acceptance and willingness to support or participate in something, such as a new policy or plan.
{{Disambiguation ...
Buying in may refer to: * Buying in (poker), a tournament entrance fee *Buying in (securities), a process in which a buyer whose seller fails to deliver the securities contracted for, can "buy in" the securities from a third party *Management buy-in A management buy-in (MBI) occurs when a manager or a management team from ''outside'' the company raises the necessary finance, buys it, and becomes the company's new management. A management buy-in team often competes with other purchasers in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Principles Of Authentic Engagement
A principle may relate to a fundamental truth or proposition that serves as the foundation for a system of beliefs or behavior or a chain of reasoning. They provide a guide for behavior or evaluation. A principle can make values explicit, so they are expressed in the form of rules and standards. Principles unpack the values underlying them more concretely so that the values can be more easily operationalized in policy statements and actions. In law, higher order, overarching principles establish rules to be followed, modified by sentencing guidelines relating to context and proportionality. In science and nature, a principle may define the essential characteristics of the system, or reflect the system's designed purpose. The effective operation would be impossible if any one of the principles was to be ignored. A system may be explicitly based on and implemented from a document of principles as was done in IBM's 360/370 ''Principles of Operation''. It is important to differen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Environment Council
The Environment Council (ENVI) is a configuration of the Council of the European Union. It meets about four times a year. It brings together the environment ministers and is responsible for the EU environment policy. This Council deals with environmental protection, climate change, prudent use of resources and protection of human health. In this regard, the Council adopts legislation together with the European Parliament in relation to: *protection of natural habitats *clean air and water *proper waste disposal Waste management or waste disposal includes the processes and actions required to manage waste from its inception to its final Waste disposal, disposal. This includes the Waste collection, collection, transport, Sewage treatment, treatm ... *toxic chemicals * sustainable economy References External links About the Environment CouncilPress releases of the Environment Council Council of the European Union Environmental agencies in the European Union [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Organization For Standardization
The International Organization for Standardization (ISO ; ; ) is an independent, non-governmental, international standard development organization composed of representatives from the national standards organizations of member countries. Membership requirements are given in Article 3 of the ISO Statutes. ISO was founded on 23 February 1947, and () it has published over 25,000 international standards covering almost all aspects of technology and manufacturing. It has over 800 technical committees (TCs) and subcommittees (SCs) to take care of standards development. The organization develops and publishes international standards in technical and nontechnical fields, including everything from manufactured products and technology to food safety, transport, IT, agriculture, and healthcare. More specialized topics like electrical and electronic engineering are instead handled by the International Electrotechnical Commission.Editors of Encyclopedia Britannica. 3 June 2021.Inte ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corporate Social Responsibility
Corporate social responsibility (CSR) or corporate social impact is a form of international private business industry self-regulation, self-regulation which aims to contribute to societal goals of a philanthropy, philanthropic, activist, or charitable nature by engaging in, with, or supporting Professional services, professional service volunteering through pro bono programs, community development, administering Grant (money), monetary grants to Nonprofit organization, non-profit organizations for the Common good, public benefit, or to conduct Ethics, ethically oriented business and investment practices. While CSR could have previously been described as an internal organizational policy or a business ethics, corporate ethic strategy, similar to what is now known today as environmental, social, and governance (ESG), that time has passed as various companies have pledged to go beyond that or have been mandated or incentivized by governments to have a better impact on the surrounding ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Global Reporting Initiative
The Global Reporting Initiative (known as GRI) is an international independent standards organization that helps businesses, governments, and other organizations understand and communicate their impacts on issues such as climate change, human rights, and corruption. Since its first draft guidelines were published in March 1999, GRI's voluntary sustainability reporting framework has been adopted by multinational organizations, governments, small and medium-sized enterprises (SMEs), NGOs, and industry groups. Over 10,000 companies from more than 100 countries use GRI. According to the 26 October 2022 KPMG Survey of Sustainability Reporting, 78% of the world’s biggest 250 companies by revenue (the G250) and 68% of the top 100 businesses in 58 countries (5,800 companies known as the N100) have adopted the GRI Standards for reporting. GRI is used as a reporting standard by a majority of the companies surveyed in all regions. GRI thus provides the world's most widely used sustaina ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
