What do you have to consider with regards to your external stakeholders when running an ethically sound business?
Multiple stakeholders have an interest in the activities or affairs of a firm and can be influenced or affected by the way in which the firm manages itself and conducts its business activities. Accordingly, our final theme considers the wider relationships and context within which a firm must undertake its business.
In this section, we look at a firm’s relationship with its shareholders, regulators and the wider community, considering:
- how strategic reporting and issues of transparency and disclosure can represent a firm’s culture;
- when regulatory interactions may give rise to complex questions or challenges in the context of ethical decision-making; and
- the increased expectations of civil society are leading to a change in firm behaviours and the way in which they conduct their business.