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A report on the accountability in Shell company in 4 areas of accountability; describe and explain each of these selected issues and secondly describe how each issue is implemented Shell - Research Paper Example

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It uses resources available from the society and environment and converts the same into consumable goods and services. So, firms remain accountable to the society for their activities. It is important for companies…
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A report on the accountability in Shell company in 4 areas of accountability; describe and explain each of these selected issues and secondly describe how each issue is implemented Shell
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Extract of sample "A report on the accountability in Shell company in 4 areas of accountability; describe and explain each of these selected issues and secondly describe how each issue is implemented Shell"

Download file to see previous pages Shareholders are interested in knowing a firm’s financial position and whether it is able to earn adequate revenue so that their returns are maximized. Shareholders provide a business with capital, which is invested in valuable assets and are utilized in different ways. If a company does not utilise the capital effectively, it would fail in generating profits as well as in providing returns to shareholders. Similarly, suppliers are also interested in knowing whether a company is able to utilize the materials supplied by them and whether they are financially sound to make payments on time. Employees do not receive their salaries and wages on time if a company fails in generating adequate revenue. Also, they are affected if the firm pursues acquisition and merger related activities as this may lead to their shifting or loss of job. A firm also remains accountable to the society and the government in respect of its environmental policies and payment of taxes (Royal Dutch Shell Plc, 2013).
Globalization has induced complexity into the world of commerce. Companies are indulging in bureaucratic and unethical activities in order to sustain global completion and make profits. Corporate Social Responsibilities or CSR activities help in maintaining fair business practices and makes a company accountable in respect of its activities. Hence, firms are required to prepare CSR reports at definite periodic intervals. Such CSR reports are considered to be important in promoting business integrity, establishing proper regulatory framework and mapping efficiency of business authorities and senior management. For lawyers and accountants, CSR is largely a technical term involving only the accountability of a firm in respect of financial statements. CSR, however, is a broad term comprising several aspects such as, firm’s responsibility towards the society, environment, government and the common mass (Frynas, 2005).
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