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In business and project management, a responsibility assignment matrix [1] (RAM), also known as RACI matrix [2] (/ ˈ r eɪ s i /; responsible, accountable, consulted, and informed) [3] [4] or linear responsibility chart [5] (LRC), is a model that describes the participation by various roles in completing tasks or deliverables [4] for a project or business process.
The professional disciplines included in the corporate responsibility field include legal and financial compliance, business ethics, corporate social responsibility, public and community affairs, investor relations, stakeholder communications, brand management, environmental affairs, sustainability, socially responsible investment, and corporate philanthropy.
The Guidelines are legally non-binding, but the OECD Investment Committee and its Working Party on Responsible Business Conduct encourage implementation among adherents. The most concrete manifestation of government commitment to the principles set forth in the Guidelines are the National Contact Points (NCPs), which are offices charged with ...
Despite the positive correlation between the inclusions of ESG criteria and financial performance, it does not imply that companies' primary aim is to become socially and environmentally responsible. According to Friedman (1962), "a company's main objective is to increase the wealth of its stakeholders".
In environmental law, the polluter pays principle is enacted to make the party responsible for producing pollution responsible for paying for the damage done to the natural environment. This principle has also been used to put the costs of pollution prevention on the polluter.
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The effect of such ratings triggers, however, can be devastating: under a worst-case scenario, once the company's debt is downgraded by a CRA, the company's loans become due in full; if the company is incapable of paying all of these loans in full at once, it is forced into bankruptcy (a so-called death spiral).
Identify the social license holders (employees of a company, labour unions, local and national governments, communities, activist groups, etc.) for every business objectives; Identify the support that the company desires to achieve from the social license holders by specifying for every business objective social license element (target of ...