When adopting the concept of Corporate Social Capital (CSC) in practising corporate social responsibility, the objective for a company is to maximise its contribution to sustainable development. This Guidance Document (GD) provides a management tool for approaching social responsibility with CSC as the underlying concept. The principles below are intended to guide users when applying the GD.
- Sustainable development: Application of the concept of Social Capital and CSC by companies should support sustainable development.
- Social Capital is a multidimensional concept: The six core dimensions are social networks, mutual help and reciprocity, trust and solidarity, social participation, social cohesion and inclusion, and information and communication.
- Effective process performance and continuous improvement: The Plan-Do-Check-Act (PDCA) cycle enables a company to achieve intended results and generates opportunities for continuous improvement, which is essential to sustainable development.
- Leadership: Leaders of a company should create and maintain a good company culture that values the importance and benefits of CSC.
- Employee involvement: Ensure that the employees are aware of the concept of CSC and its incorporation in practising CSR.