Corporate Accountability is a broad term that refers to the
moral or legal obligation for companies of being accountable to the shareholders
or Stakeholders of the organization
or even to society as a whole. Stakeholders may include shareholders, employees,
customers, suppliers, the local community, special interest groups and the
countries or regions that the firm operates in.
In fact, one can distinguish three forms of
Societal Accountability: each organization is
seen as accountable for its actions to society in general and to
specific groups or organizations within society.
Organizational Accountability: within each
organization, agents, directors and other trustees are seen as
accountable for the way they represent the organization. Also, when
these agents in turn appoint and control managers, these are also seen
as accountable for the way they run the organization.
Interpersonal Accountability: of one person in
the organization to another, depending on informal networks, the
Culture and shared values and beliefs.
Three relevant questions at all three above levels
when thinking about accountability are:
To whom is an organization or individual
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