Dailycsr.com – 10 March 2016 – Good governance in corporate culture is very much critical, although it lacks a “broader definition”, reports Ethical Corporation.
The word ‘governance’ doesn’t end with the boards of directors for the periphery of its definition is vast enough to engulf every operational area of a company whereby integrating the same throughout its functional aspects; likewise promoting ‘transparency’ in matters.
The same has been reported as key “findings” that featured on a corporate culture report which was generated by the “International Corporate Governance Network, ICSA”.
The International Corporate Governance Network is the “Governance Institute” and also the “Institute of Business Ethics”.
Investors, senior regulators, executives, and company directors came together to create the said report whereby studying ways to identify “early warning signs of a weak culture”. During the course of the study, analysis were made to arrive at measurable indicators to assess corporate culture, whereby taking into consideration “staff turnover, customer satisfaction, health and safety record, and public commitment to values by leadership”.
As a result, the data extracted from the report points towards “high levels of corporate stress, flawed remuneration policies, and lax financial discipline” as the warning signs to indicate weakness in corporate culture.
However, the study even presents some solutions to avoid, detect or handle the aforementioned situations. The Ethicalperformance continues:
“It suggest that more attention should be paid to the role of HR departments in embedding culture, and to internal audit, which is well placed to notice when culture is slipping”.
References:
http://www.ethicalperformance.com/
The word ‘governance’ doesn’t end with the boards of directors for the periphery of its definition is vast enough to engulf every operational area of a company whereby integrating the same throughout its functional aspects; likewise promoting ‘transparency’ in matters.
The same has been reported as key “findings” that featured on a corporate culture report which was generated by the “International Corporate Governance Network, ICSA”.
The International Corporate Governance Network is the “Governance Institute” and also the “Institute of Business Ethics”.
Investors, senior regulators, executives, and company directors came together to create the said report whereby studying ways to identify “early warning signs of a weak culture”. During the course of the study, analysis were made to arrive at measurable indicators to assess corporate culture, whereby taking into consideration “staff turnover, customer satisfaction, health and safety record, and public commitment to values by leadership”.
As a result, the data extracted from the report points towards “high levels of corporate stress, flawed remuneration policies, and lax financial discipline” as the warning signs to indicate weakness in corporate culture.
However, the study even presents some solutions to avoid, detect or handle the aforementioned situations. The Ethicalperformance continues:
“It suggest that more attention should be paid to the role of HR departments in embedding culture, and to internal audit, which is well placed to notice when culture is slipping”.
References:
http://www.ethicalperformance.com/