Glossary of terms used in the site
All
| Term | Definition |
|---|---|
| Added value |
(also gross product) the overall wealth created by the company and shared among stakeholders (human resources, financial partners, the State, local authorities, shareholders/partners, community) or reinvested in the company (depreciation and retained earnings) |
| Best practice |
activities, procedures or initiatives considered as reference examples due to an innovative approach or outstanding results |
| Code of conduct |
a formal statement of the values and business practices of a company and sometimes its suppliers. It is a statement of minimum standards together with a pledge by the company to observe them and to require its contractors, subcontractors, suppliers and licensees to observe them. (Source: European Commission, 2001) |
| Corporate giving |
(also direct giving) donations, gifts, gratuities, etc., granted by companies to socially and / or environmentally focused organizations and initiatives. In this sense, corporate giving contributions are exclusively monetary |
| Delocalisation |
displacement of production processes (or part of them) from one place to another (often from developed Countries to developing ones), with the purpose of gaining competitive advantages |
| Disability |
limitation or loss (due to impairment) of the ability to perform activities in ways considered normal |
| Disclosure |
communication policy adopted by companies towards markets (and stakeholders in general) both on voluntary or legally enforced basis |
| Environmental report |
a management and communication tool, describing the relationships between organizations and the environment, in terms of the environmental impact of business operations |
| Financial partners |
stakeholders with an interest in the economic and financial performance of companies. This category includes banks, insurance companies, rating agencies, financial advisors, etc |
| Fringe benefit |
remuneration in kind, that is, all remuneration, disbursement of money excluded, consisting in the enjoyment of a service or object: e.g. company cafeteria, meal vouchers, company cars, mobile phones, room and board, etc |
| Global Compact |
United Nations initiative promoting corporate responsibility by advancing universal values in business operations around the world. The Compact challenges business leaders to adopt and apply ten principles in the fields of human rights, labour standards, environment and anti-corruption |
| ILO |
(International Labour Organization) United Nations specialized agency for the promotion of social justice and the universal acknowledgement of workers’ rights |
| Innovation |
usually referred to the concept of change, especially technological change, which can take on two different forms: products/services offered by an organization (product innovation) and in the ways in which they are realized and marketed (process innovation) |
| Management system |
this concept includes the organizational structures, planning, programming and monitoring activities, and the responsibilities, practices, processes, resources for developing, implementing, meeting, reviewing and keeping a specific company policy (concerning quality systems, environmental systems, safety in the workplace, the protection of workers' rights, social impact management or company sustainability, etc.) |
| Minority |
group of persons in a situation of numeric inferiority and therefore potentially disadvantaged due to ethnic, religious, cultural, language or other reasons. Some examples might be non-European immigrants, other foreign workers, members of ethnic minorities, etc |
| Mission |
the company's raison d'être. It states the basic values, the principal aims and targets pursued by companies with their activities. It often combines economic and social aspects by describing the company's role in society as one of promotion and development of community well being, quality of life and social cohesion |
| Non-governmental organizations |
(or NGOs) organizations that are not part of a government and were not founded by states. NGOs are therefore typically independent from governments. Although the definition can technically include for-profit corporations, the term is generally restricted to social, cultural, legal and environmental advocacy groups having goals that are primarily non-commercial. NGOs are usually non-profit organizations that gain at least a portion of their funding from private sources |
| OCSE |
(or Organization for Economic Co-operation and Development) the OECD groups 30 member countries sharing a commitment to democratic government and the market economy. With active relationships with some 70 other countries, NGOs and civil society, it has a global reach |
| Social report |
a management and communication tool, describing the social profile of companies with a specific focus on integrating the needs of relationships between organizations and stakeholders into strategic decision-making |
| Social responsibility |
(also CRS) CSR is the acronym for Corporate Social Responsibility. CSR can be defined as the integration on a voluntary basis of the environmental and social considerations into business operations, over and above legal requirements and contractual obligations, in relations with all the interested parties” |