Defining Best Practice Corporate Responsibility Essay

Defining Best Practice: Corporate responsibility is ultimately about the reasons and ways in which a company sets its values, moral standards, ethical considerations and states an organizational purpose that is based in greater societal good. After this course, I believe the â€Å"best practice† of corporate responsibility in a high tech global economy leverages several course methodologies but ultimately 1) the tenets of Gilligan’s Ethics of Care model which balances care for self (or corporation) and care for others, 2) takes triple bottom approach to running a company considering financial performance, social practices and environmental impact and 3) ultimately one defined by Porter and Kramer’s Corporate Shared Value (â€Å"CSV†) where economic success is based on a model where societies’ needs are addressed and improved. CSV allows the self-interest necessary for a company to thrive in a competitive and fast changing environment. At the same time, CSV considers that the end game is about creating shared value. Altogether, my definition of the â€Å"best practice† of corporate responsibility happens when the company’s bottom line and society’s bottom line are simultaneously served because the societal needs are also at the center of the company’s profit driven goals. Gilligan’s Ethics of Care model can be made a core part of a company’s values and culture and should be a driving component of a company’s corporate responsibility approach. Gilligan’s model, aligned also to Kohlberg’sShow MoreRelatedAccountability Is An Essential Ingredient Of Corporate Governance1242 Words   |  5 PagesAbstract Accountability is an essential ingredient of corporate governance, and indeed is the reason for any corporate governance set up. This paper discusses the ways in which accountability contributes to corporate governance and vice versa, and the mechanisms by which organizations may become more accountable and transparent. 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