ABSTRACT
How do effective directors ensure that the organisations they serve generate positive social impact?
Based on a framework of global corporate governance best practice, which can be used in all organisations anywhere in the world, this chapter of Questions To Ask (QTA) in the boardroom gives a high-level but succinct introduction to the topic of social impact.
Social impact and social values are crucial to sustained organisational and societal success. Social impact matters to society and all the communities in which an organisation operates: from the communities producing products and services through to the way those products and services are consumed, and waste disposed of. Organisations support the livelihoods and success of every individual and organisation with which they are involved. Their collective success enables a society’s success. Social impact is not incremental or incidental to it. Societal impact is integral to organisations whether it is recognised or not and businesses can only provide returns over the long term if the societies in which they operate, prosper.
The chapter’s introduction leads into the key Questions To Ask in the boardroom, giving the reader further insight into how to initiate discussions about the organisation’s social impact.
