The social objectives of a company are those aims that a company pursues with respect to the society with which it lives.
Among the objectives that a company must pursue, we could say that social objectives have successfully penetrated among these. In this sense, the awareness of companies to correspond to society, in such a way that the contribution that society has made to it is compensated, is increasing.
For this reason, the appearance of new methodologies such as corporate social responsibility, as well as non-financial reporting, among other tools, allow the evaluation of those social objectives that more and more companies are pursuing.
Thus, companies are trying not only to carry out a certain economic activity and satisfy needs, but also to carry out social actions that have a non-profit focus. That is, actions that, promoted by companies, have a positive impact on society.
Through the non-financial report, it includes those intangibles, or what is known as “social footprint”, which are within the social objectives of a company.
Such is its importance, that the European directive has established regulations on the obligation to present a non-financial report, together with the financial one, that collects all these social objectives that a specific company performs.
Social objectives of a company
Thus, among the social objectives of a company we can highlight innumerable actions. From a donation to a contribution in kind, all of this is a social objective.
That is, any action that, carried out by the company, has a positive impact on society. For this reason, companies try to develop a relationship of shares that contributes to it a social reputation. A social reputation that aims to improve the image of said company.
Thus, the main social objectives of a company include:
- Guarantee the future sustainability of the planet and the environment : This is one of the main social objectives of a company. Without a planet there is no business. It is an objective that all companies continue, their aim being to guarantee the future exploitation of their activity, in a favorable environment for it.
- Generate wealth effectively and efficiently: Companies have the mission of generating wealth, in addition to doing so effectively. That is, to generate wealth using the fewest possible resources.
- Comply with the established regulations : Another of the objectives of the companies is the commitment to the regulations and the obligations acquired. Therefore, companies must ensure that compliance with these regulations is being carried out correctly.
- Ethics and responsibility with customers : Customers are one of the pillars of a company. Without customers, even the world’s largest company would be driven out of business. For this reason, one of the social objectives of companies is to take care of the customer. In addition, taking care of it while offering ethical and responsible management. Always adapted to your preferences and not to profit and economic benefit.
- Transparency in the management and fight against corruption : Among the main social objectives pursued by a company, transparency has a prominent place. In this sense, transparency in business management is key for proper management, as well as social management. Less transparency in management is usually linked to fraud and tax evasion. As well as actions that are not linked to ethics and corporate social responsibility.
- Respecting workers, as well as their rights and decent working conditions : Another great social objective of companies is to offer decent working conditions to their employees. Thus, companies must not only treat workers well, but also comply with regulations on workers’ rights.
- Offer added value to consumers and involve them in the company’s strategy : Another of the main objectives of a company is to offer added value to our customers. In this way, justifying the price offered. Thus, business ethics plays a determining role, although the tasks of the company’s employees must be exemplary in this regard.
- Continuous improvement of the places where the company is established : A great objective of the company must be the continuous improvement of society. Thus, a company must focus on the promotion and improvement of those societies to which its good or service is focused. Thanks to continuous improvement, the results of the company will be reciprocated, at the same time that a social improvement takes place.
These social goals, as well as others we might add, complement what companies call brand reputation. This is one of the main objectives and, given its importance, we treat it separately. Therefore, through the objectives set out here, companies try to build a brand reputation. A reputation that promotes an awareness of society about the importance of choosing sustainable and socially committed companies.