Moving beyond compliance and control: building a values‐based corporate governance culture supportive of a culture of mutual accountability
Author: Sundrum, Elisabeth
Source: International Journal of Business Governance and Ethics, Volume 1, Numbers 2-3, 16 September 2004 , pp. 192-209(18)
Publisher: Inderscience Publishers
Abstract:Will the Sarbanes‐Oxley Act of 2002 and the emerging EU auditing standards be adequate to stop major corporate scandals? Certainly they will help, but the best defence against fraud is a corporate culture strong enough to itself stop abuse internally. Activities imposed from the outside can never match the role of colleagues within a company who challenge one another to maintain the highest of ethical standards and good business practices. Boards must ensure a strong ethics framework of appropriate behaviour. Since behaviour is based on values priorities, a mutual effort at all levels to deal with corporate ethics begins with a clear understanding of core values, both individually and organisationally. If a company wants to achieve a high Return on Capital Employed and Customers Engaged, a high Return on Competencies Enhanced, and a high Return on Co‐Creative Energy, it is a major breakthrough to discover the interrelationship between: value, values, valuing and valuation.
Document Type: Research Article
Affiliations: eCultureTeam, Munich, Germany
Publication date: 2004-09-16
- The International Journal of Business Governance and Ethics aims to critically explore business and managerial strategies, actions, responsibilities and accountabilities for survival in a highly transparent and dynamic global world.
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