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Social responsibility is an ethical concept in which a person works and cooperates with other people and organizations for the benefit of the community. [1] An organization can demonstrate social responsibility in several ways, for instance, by donating, encouraging volunteerism, using ethical hiring procedures, and making changes that benefit ...
Corporate social responsibility (CSR) or corporate social impact is a form of international private business self-regulation [1] which aims to contribute to societal goals of a philanthropic, activist, or charitable nature by engaging in, with, or supporting professional service volunteering through pro bono programs, community development ...
Social justice is justice in relation to the distribution of wealth, opportunities, and privileges within a society where individuals' rights are recognized and protected. [1] In Western and Asian cultures, the concept of social justice has often referred to the process of ensuring that individuals fulfill their societal roles and receive their ...
Social equity is concerned with justice and fairness of social policy based on the principle of substantive equality, equal outcomes for groups. [1] Social equity within a society is different from social equality based on formal equality of opportunity. [2] For example, person A may have no difficulty walking, person B may be able to walk but ...
e. Environmental, social, and governance (ESG) is shorthand for an investing principle that prioritizes environmental issues, social issues, and corporate governance. [1] Investing with ESG considerations is sometimes referred to as responsible investing or, in more proactive cases, impact investing. [1]
Social consciousness or social awareness, is collective consciousness shared by individuals within a society. [1] Social consciousness is linked to the collective self-awareness and experience of collectively shared social identity. [2] From this viewpoint, social consciousness denotes conscious awareness of being part of an interrelated ...
Friedman doctrine. The Friedman doctrine, also called shareholder theory, is a normative theory of business ethics advanced by economist Milton Friedman which holds that the social responsibility of business is to increase its profits. [1] This shareholder primacy approach views shareholders as the economic engine of the organization and the ...
Social entrepreneurship. Student organizers from the Green Club at Newcomb College Institute formed a social entrepreneurship organization in 2010 that aimed to encourage people to reduce waste and live in a more environmentally conscious way. Social entrepreneurship is an approach by individuals, groups, start-up companies or entrepreneurs, in ...