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Commercial Accountability Challenges in Global Environment

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Learning Objectives After successfully completing this unit, you should be able to: 1. Explain the key elements of and the importance of commercial accountability for human, natural and financial capital under the stewardship of management 2. Distinguish between giving account, (how and what is reported on the firm’s performance), taking account, (planning and controlling through standard setting and benchmarking) and being held to account; (within various accountability frameworks to meet stakeholder requirements) 3. Analyse and critically evaluate the changing role and accountability of the Board in relation to corporate governance, risk management and ethical and sustainable practices within organizations, including corporate responsibilities in relation to the carbon economy 4. Outline the issues for executive decision making in the risk management and stewardship of financial, human and environmental resources 5. Explain the implications for resource and risk management stemming from the firm’s stated ethics and values and sustainability strategies 6. Critique and apply accountability frameworks to corporate governance challenges in a complex global business environment Those learning objective are into the 2 objective I already sent plus these I am sending now as attachment. Please contact me and let me know that you received all this information.

Introduction

Accountability involves the responsibility of an organisation to account for its activities, accept responsibility for them, and to disclose their results in a transparent way. This includes the responsibility for financial resources and other property under their wing. In ethics, accountability involves answering, blameworthiness, responsibility for actions, and the expectations of giving accounts for the company’s actions (Bäckstrand, 2008). In the corporate leadership roles of the commercial ventures, accountability acknowledges and takes responsibility for the engagements, products and services, decision making, policies, and administration, not just in the scope of the internal environment but also in the external environment. In the global arena, organisations are divided into three levels, intergovernmental organisations, transnational organisations, and non-governmental organisations (Jean Shaoul, 2012). This decision that these organisations make help to shape the world. The decisions that these organisations affect global citizen in many ways; from shaping the global financial standards, to determining the fate of the global refugees. The communities and societies that are affected by the decisions of global organisations should hold them accountable for their actions. The need for this organisation to become more transparent and accountable for their action to the stakeholders has raised the need for global accountability (Lyons, 2012). The global organisations are not only actors in their global environment, but they also have an influence. There are over 100,000 global organisations in the world, the decisions that these organisations make has the profound power of affecting millions of people in the world (Trust, 2008). The decision that a global non-governmental organisation make can be the difference between a poor mother and a child receiving adequate medical attention or not. The decision of a transnational organisation starting a factory in a particular community change and affects the livelihoods of the entire community.

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