Social Audit
Social audit is a process through which an organization evaluates and assesses its social and environmental impacts, performance, and practices. It involves measuring, monitoring, and reporting on the organization's social, ethical, and sustainability initiatives to stakeholders, including employees, investors, customers, communities, and other interested parties. The purpose of a social audit is to enhance transparency, accountability, and continuous improvement in social and environmental performance.
Key features and components of a social audit include:
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Performance Measurement: Social audit involves measuring and assessing the organization's social and environmental performance against established goals, targets, and benchmarks. This includes evaluating the impact of the organization's activities on various stakeholders and examining its compliance with relevant laws, regulations, and ethical standards.
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Corporate Governance
“Ethics refers to proprieties and the laws embody legalities.” In light of this statement explain the relationship between Ethics and Law.
Briefly discuss several criteria of Ethical Evaluations which are widely used in different situations.
Social Audit
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Briefly discuss the recommendation of Narayana Murthy Committee (2003) on Corporate Governance.
Universalism vs Utilitarianism