Social Responsibilities Unit: 7B

Vocabulary terms and definitions covering corporate social responsibility, stakeholder demands, impact assessments, and global reporting frameworks like GRI, ESG, and TBL.

Corporate Social Responsibility (CSR)

An ongoing commitment to behave in an ethical manner by contributing to the economic and social development of employees and communities, moving beyond just ticking boxes.

Primary Responsibility

The immediate business network required for operational survival and growth, consisting of Owners, Employees, Suppliers, Customers, and Competitors.

Broader Responsibility

The macro environment in which a business operates, encompassing local communities, ecological concerns, and national government.

Owners

Primary stakeholders who demand financial performance, dividend growth, and an increase in share value which constitutes Return on Investment.

Competitors

Primary stakeholders who expect fair advertising practices, the absence of counterfeit goods, and strict protection of intellectual property and trademarks.

Suppliers

Primary stakeholders who require prompt payment, reputable credit records, and ethical partnerships to build mutual image.

Employees

Primary stakeholders who demand fair remuneration, good working conditions regarding hours and sanitation, and morale-boosting environments.

Customers

Primary stakeholders who expect quality products at reasonable prices, environmentally friendly packaging, and positive brand alignment.

SARS

The entity for which a business must provide accurate and prompt payment of taxes on salaries and profits according to specific stipulations.

King reports

Reports used to provide proof of sound Corporate Governance within the business evaluation matrix.

CSR Impact Matrix (Challenges)

A set of difficulties including costly programs, the need for extra staff, continuous monitoring demands, and potential product price hikes.

Global Reporting Initiative (GRI)

A non-profit organisation that created a worldwide Sustainability Reporting Framework to promote transparency regarding economic, environmental, and social impacts.

JSE SRI

The Social Responsibility Index initiated in 2004 that later evolved into the FTSE/JSE Responsible Investment Index.

FTSE/JSE Responsible Investment Index

Launched in October 2015 to measure the policies and procedures of JSE-listed companies against globally acceptable ESG standards.

ESG (Environmental, Social & Governance)

A set of factors used to measure a company's responsibility and ethics, primarily to help investors assess sustainability.

Triple Bottom Line (TBL)

A reporting philosophy looking at Profit, People, and Planet to encourage businesses to be profitable, socially fair, and eco-friendly.

Profit (Economic)

The TBL pillar focusing on financial growth, delivering ROI to owners, and ethical wealth creation that sustains the business.

People (Social)

The TBL pillar focusing on uplifting the community, ensuring fair labour practices, funding feeding schemes, and prioritizing employee well-being.

Planet (Environmental)

The TBL pillar focusing on implementing eco-friendly packaging, reducing food waste, and actively lowering the corporate carbon footprint.