What does having a social impact mean for business?

Corporate responsibility has an influence on the sustainable development of companies worldwide. The phenomenon is caused by its impact on increasing the value of companies, related to a greater awareness of not focusing efforts exclusively on achieving good financial results. Impact, specifically social impact, relates directly to sustainable development objectives and is increasingly reflected in business management practices. The concepts align corporate mission, values, and activity with the growing sensitivity to social and environmental issues. Sustainability is a priority on the global development agenda, and both public and private companies are an integral part of that agenda. More and more companies are strategically assuming the role of sustainability and corporate responsibility, not merely from an ethical perspective, but actively referring to their competitiveness and productivity. Each initiative and project leaves a footprint that directly or indirectly affects the community in which a company operates.