Glossary: Q-Z (17 terms)

RECONCILIATION

Measures taken by a company to ensure its professionals can organise their personal and working lives without a conflict or clash between the two.

RESPONSIBLE AND ETHICAL FUNDS

Investment funds that use social or other non-financial criteria in selecting their investments.

RESPONSIVENESS

A basic principle of the AA1000 Standard that refers to an organisation’s response to stakeholder issues that affect its sustainability performance and which is realised through decisions, actions and performance, as well as communication with stakeholders.

RISK MANAGEMENT

Analyses undertaken to preserve an institution’s financial and balance sheet strength, maximising the risk-return ratio.

SELF-ASSESSMENT

Comprehensive, systematic internal review of an organisation's activities and performance by reference to a management system, a standard or excellence model.

SERVICE QUALITY

The ability of an organisation (persons, products and services) to satisfy the needs and expectations of its customers and stakeholders.

SOCIAL ACTION

The action taken by an organisation when it earmarks funds for improving the specific situations of certain population segments and groups. Spanish savings banks (cajas de ahorro) traditionally manage their social action activities through the “Obra Social”.

SOCIAL BALANCE SHEET

Quantitative and qualitative information providing an objective measure of the organisation's performance in the area of human resources and social programmes.

SOCIAL DIVIDEND

The reinvestment of a substantial portion of an organisation’s profits in the welfare of the community —the key element that differentiates savings banks (cajas de ahorro) from other financial institutions.

SOCIAL PERFORMANCE INDICATOR

Variable or measurement relating to the impact of an organisation on the social systems within which it operates. This definition encompasses labour practices, human rights and general questions affecting customers/consumers, the community and other society stakeholders.

SOCIAL RESPONSIBILITY PLAN

Set of principles, programmes, policies, strategies and actions of an enterprise regarding its behaviour vis-à-vis its stakeholders, the economy, society and the environment. The Social Responsibility Plan reaches across all areas of an organisation and includes programmes or actions already being carrying out, promotes new ones and ensures a unified organisation-wide approach according to its core principles and values.

SOCIALLY RESPONSIBLE INVESTMENT (SRI)

The embedding of sustainability as well as strictly financial criteria in the selection of investment portfolios. Two types of criteria can be differentiated in the terminology employed in SRI:

SOLIDARITY

Quality of people and organisations contributing economically or in other ways to social causes or groups.

SPONSORSHIP

Support given to an event, activity, individual or organisation by providing money or other resources in return for promotion.

STAKEHOLDERS

Those groups and individuals that must be taken into account to the extent they may affect or be affected by the organisation's activities.

SUSTAINABLE DEVELOPMENT

"Development that meets the needs of the present without compromising the ability of future generations to meet their own needs" (Report of the World Commission on Environment and Development).

VALUES

The concepts and expectations informing the conduct of people within an organisation, and which imbue their relationships and way of working.

VISION

Description of what an organisation aspires to be in the mid-term future, and the goals it wishes to achieve.

VOLUNTEER WORK

Unpaid work done by persons for the benefit of the community or the environment.