Corporate responsibility has an influence on the sustainable development of companies worldwide. The phenomenon is caused by its impact on increasing the value of companies, related to a greater awareness of not focusing efforts exclusively on achieving good financial results. Impact, specifically social impact, relates directly to sustainable development objectives and is increasingly reflected in business management practices. The concepts align corporate mission, values and activity with the growing sensitivity to social and environmental issues. Sustainability is a priority on the global development agenda, and both public and private companies are an integral part of that agenda. More and more companies are strategically assuming the role of sustainability and corporate responsibility, not merely from an ethical perspective, but actively referring to their competitiveness and productivity. Each initiative and project leaves a footprint that directly or indirectly affects the community in which a company operates. COMMITMENT AND SOCIAL RESPONSIBILITY Currently, the significance of the social aspect often takes precedence over the economic and environmental aspects in those companies that take a sustainability approach seriously. This is not surprising, as actions in this area often return benefits, such as talent retention, increased resilience, and improved reputation, which translate into greater loyalty from customers and employees, creating trust among stakeholders and, consequently, a better market position. This all adds more value to the business. Companies around the world have adopted measures to achieve significant progress in generating positive societal impacts. In recent years, the role of businesses as generators of value in society has been increasingly recognised, internalising the vision of becoming fundamental pillars of a country’s development. CORPORATE PURPOSE A social purpose can play a central role in business operations. Companies that incorporate social impact at the core of their strategy are more competitive and better positioned to create value for all their stakeholders. For the past few years, a transformation has been taking place, an evolution of business models towards sustainable principles, where more attention is paid to generating meaningful changes that focus on solving societal problems and meeting the current market demand. Corporate social responsibility thus becomes synonymous with productivity, generating value concerning social and environmental concerns, encouraging the commitment of human talent, building a better reputation, and creating new models of innovation. SOCIAL INITIATIVES We can classify some of the initiatives companies undertake regarding the social aspect, internally and externally, into eight main categories: 1 Fair and dignified working conditions, ensuring fair wages, adequate rest periods, safe working conditions, and compliance with labour laws. 2 Diversity and equity in employment, promoting diversity within the company and ensuring equal opportunities and career advancement without gender or racial discrimination. 3 Environmental responsibility, through the commitment to minimise impact on the environment, as well as respecting the life and dignity of living beings in their surroundings. 4 Contribution to social justice, through the adoption of measures that ensure activities do not contribute to the creation or promotion of injustices. 5 Donations for sustainability causes, financially contributing to projects related to sustainability. 6 Recycling, through the implementation of policies, such as the reuse of products at different stages of production, thus reducing waste. 7 Solidarity activities, through the organisation of activities that raise funds for community projects. 8 Promotion of renewable energies, through the adoption of energy sources that reduce greenhouse gas emissions. EVALUATING IMPACT In seeking to generate an impact, it is imperative for companies to establish indicators of success. This 48 |
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