• Are You Ethically Correct and Socially Responsible?

    25 Nov 2015
  • In scientific areas of business, such as Accounting, we often use equations and ratios to generate results. This being said, even quantitative results are rarely black and white. Given this, what techniques exist to help us understand the nebulous world of ethics and social responsibility?

    As the quest for competitive advantage continues, it’s critical for leaders to continually re-asses what they are doing, where they are going, how they’re going to get there and, increasingly, the impact of these factors on others! In addition to the normal hard-nosed profit focus, companies are now considering their social responsibilities.

    Simply put, the traditional stakeholder analysis viewpoint of maximizing shareholder value by the prudent use of scarce resources, is being softened to include the full socio-economic impact including the communities in which they operate.  The question is, what frameworks and techniques exist to help us make ethically correct and socially responsible business decisions?