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The Main Role Of Corporate Accountability - Essay Example

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The paper "The Main Role Of Corporate Accountability" states that legitimacy theory provides the theoretical basis for understanding how and why management teams might use externally focused disclosure reports to enhance a company’s reputation and manage risk…
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The Main Role Of Corporate Accountability
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Download file to see previous pages It is emphasized that stakeholders are identified by their interests and all are considered to be intrinsically valuable. As a managerial tool, it recommends attitudes and practices and requires that attention is given to all legitimate stakeholders i.e. government, investors, political groups, suppliers, customers, communities, trade associates and employees.
When the corporation takes responsibility for decisions that earn them profits in spite of their negative impact on degenerating environment, social and ethical issues their organizations/corporate have to be accountable.
S ome corporations report voluntarily while others are obliged to thorough policies and regulations; traditionally corporate use the inputs of investors; employees and supplies to convert inputs to salable outputs which customers buy and return to the firm some capital benefits.
A s evident in, scholars that include Donaldson & Preston (1995), Mitchell, Agle and Wood (1997), Philips (2003) their supportive contributions that corporations should act both morally for operation and management of corporations. ...Download file to see next pagesRead More
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