SHRM - Corporate Social Responsibility

Triple Bottom Line

economic, social, and environmental impact metrics used to determine an organization’s success

Compliance

state of being in accordance with all national, federal, regional, and/or local laws, regulations, and/or other government authority requirements applicable to the places in which an organization operates

Governance

system of rules and processes set up by an organization to ensure its compliance with local and international laws, accounting rules, ethical norms, internal codes of conduct, and other standards

Sustainability

practice of purchasing and using resources wisely by balancing economic, social, and environmental concerns, with the goal of securing the interests of present and future generations

Ethics

Set of behavioral guidelines that an organization expects all of its directors, managers, and employees to follow to ensure appropriate moral and ethical business standards

Corporate Social Responsibility (CSR)

varying ways an organization can create value, beyond just making a profit. Examples include philanthropy, volunteerism, corporate sponsored community program, employee rights, work place safety etc.

Social Audit

a systematic evaluation of how well an organization meets its internal and external social responsibilities, labor standards, and ethical practices

Creating Shared Value (CSV)

a management strategy focused on generating measurable economic value for a company while simultaneously solving social or environmental problems