Planning For Social Objectives

Once a firm has determined the extent of its commitment to social objectives, plans may be considered for attaining these � objectives. The integration of social and economic goals in the planning process provides the best basis for understanding the interdependence of social and economic goals. In particular, such an integration allows the social implication of economic goals to be more adequately considered in the fusion of these goals in coherent long-range and annual operating plans. Admittedly, the integrated analysis of social and economic goals implies a reform of the planning process.

Bauer and Fenn (2002) recommend a four-stage approach for planning social programmes:

(1) making an inventory of all corporate activities having a social impact;

(2) analysing the circumstances necessitating these activities;

(3) evaluating as best possible the type of social programmes which would be most relevant to the firm's activities;

(4) assessing the manner in which these social programmes match the corporation's own objectives and those of society at large.

Learn More About Opportunity Costs

Read on: The Objectives of Users of Social Accounting Information

The objectives of users of social accounting information

The Corporate Report identified seven groups of users as having a reasonable right to receive information from companies. It did not specify, however, the decision models of these several groups of users, nor did it consider it to be practicable to publish information of a social accounting nature. Clearly, much of the information described above is of a qualitative rather than of a financial nature, and as such would be subjected to use by groups concerned with making value judgements about the firm's social contributions. In effect,... see: The Objectives of Users of Social Accounting Information