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Glossary

We have lots of terms you may be unsure of, you can learn all about them here!

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Co-operative

An organisation or business which is owned and run jointly by its members, who share the profits or benefits.

Co-production

Co-production is a process – a way of working based on equal and reciprocal relationships between citizens and professionals.

Tender

A written invitation sent to potential suppliers of a service to inform them about the information required for the buyer to choose among them. Councils across Wales often advertise contracts / Tenders for services on a website called Sell2Wales.

Social Enterprise

Social enterprises trade to tackle social problems, improve communities, people’s life chances, or the environment. They make their money from selling goods and services in the open market, but they reinvest their profits back into the business or the local community. And so when they profit, society profits.

Consortium

An organisation of several businesses joining together as a group for a shared purpose. an organization of several businesses or banks joining together as a group for a shared purposean organization of several businesses or banks joining together as a group for a shared purpose

Social Value Forum

All public bodies in England and Wales, including local authorities, are required to consider how the services they commission and procure might improve the economic, social and environmental well-being of the area.

Regional Partnership Board

In April 2016, seven statutory regional partnerships were formed across Wales. Their purpose is to drive the strategic regional delivery of social services in close collaboration with health. https://socialcare.wales/hub/sswbact-regional-partnership-boards

County Voluntary Council

WCVA (Wales County for Voluntary Action), county voluntary councils (CVCs) and volunteer centres (VCs) are a network of support organisations across Wales that help people who are inspired to make a positive difference to their communities. They work with charities, voluntary and community groups, social enterprises, trustees and individual volunteers. WCVA works at a national level, while CVCs/VCs work at a local level

Direct Payments

The Direct Payments scheme is a scheme that gives individuals who need to access services their money directly to pay for and choose their own care, rather than the Local Authority choosing and providing care for them

Vision

A vision statement is a company's road map, indicating both what the company wants to become and sets a defined direction for the company's growth. It is future-orientated; it describes where the company is going rather than the current state.

Mission

A written declaration of an organization's core purpose and focus that normally remains unchanged over time.

Strategy

A collective of plans of action designed to achieve a long-term or overall aim.

SMART principles

SMART principles ensure goals are Specific, Measurable, Achievable, Realistic and Timed

Plan

A plan is a set of decisions about how to do something in the future and could be a business, operational or strategic plan

Analyse

To study or examine something in detail in order to discover more about it

Constitution

A constitution is a document that generally specifies the rules governing the relationship between and activities of the company, its directors and shareholders. A constitution can be used for an incorporated or unincorporated group.

Unincorporated

A group or organisation that is not formed into a legal corporation.

Incorporated

A group or organisation that is formed into a legal corporation and usually called a company.

Companies House

Companies House is the United Kingdom's registrar of companies and is an executive agency and trading fund of Her Majesty's Government.

The Charity Commission

Registers and regulates charities in England and Wales, to ensure that the public can support charities with confidence.