Social value (definition)

Social Value is a principle that champions the holistic well-being of both current and future generations. Emphasizing the importance of supporting both individual welfare and planetary sustainability, it traverses three central areas:
1. Social: This revolves around enhancing the well-being of individuals and communities, advocating for interconnectedness and mutual support.
2. Economic: This focuses on the promotion of economic policies and business practices that uplift societal well-being, recognizing that economic prosperity should be intertwined with societal progress.
Ultimately, Social Value underscores the relative weight people assign to changes in their well-being. By harnessing these insights, society can make informed decisions, ensuring actions resonate with shared values and drive collective benefit.
Context
Social Value serves as an introspective tool, prompting individuals, communities and organisations to reflect on the broader repercussions of their actions on societal value and future generations. It nurtures an ethos of social consciousness and encourages a holistic view of progress and development.
Benefits for employers
For the business sector, integrating the principles of Social Value yields multifaceted benefits:
* It prioritizes staff well-being, invariably leading to augmented employee loyalty and enhanced productivity.

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