Social Value
Creating Social Value through Value Innovation in Harmony.
SKMS and Pursuit of ‘Stakeholder Happiness’
According to SK Group’s management philosophy, SKMS (SK Management System), the concept of stakeholder happiness means “A corporation must consistently achieve stability and growth to persevere and advance. In doing so, a corporation must also create greater happiness for customers, employees, shareholders, and society.”
We are actively engaged in sustainable management rooted in this concept. SK Group also designated 2018 as ‘Year One for a New SK’ and is pursuing enhanced social value (SV) as a vital corporate strategy for survival. Ultimately, we seek to realize sustainable growth together with society.
DBL(Double Bottom Line)
DBL is SK’s management principle which states all SK business activities should create economic value and increase social value so that society can share in the company’s growth.
SK networks recognizes the pursuit of social value is indispensable to the sustainable growth of the company and its employees. In 2018, it selected the pursuit of social value as one of the management policies supporting the beginning of DBL (Double Bottom Line), Furthermore, it sought to identify the social issues associated with each business division and made a quantitative measure of the fundamental impact of all SK-led business activities from the environmental, social, and governance aspects. Going forward, we will continue research and monitoring to expand the range of indicators for measuring social value and develop a more sophisticated methodology. We will also uncover ways to create social value and cultivate business models based on the measure of social value.
SK Double Bottom Llne
SK DBL Key Strategies
-
All business activities
Expand the scope of SV creation beyond CSR
to overall concept of Biz Value Chain -
Create economic value and increase social value
Actively review ways to grow SV
during decision-making process
(Decreasing (-)SV, generating (+)SV) -
SK management principle of growing with society
Increase economic value (within SK) and social value
(outside of SK) to pursue happiness in
harmony and balance for all stakeholders