Professional Documents
Culture Documents
East India Company (1600) Polly Peck (1990), Maxwell (1991), Enron (2001),
WorldCom (2002), Parmalat (2003), Conran Black
South Sea Bubble (1720) = Dot Com (late 1990s) (2007), sub-prime mortgage collapse (2007)
Joint Stock Companies Act (1844 UK), Limited
Liability Act (1855 UK)
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Key issues Key recommendations
Shareholders
Principles v Rules
© Accountancy Tuition Centre (International Holdings) Ltd 2008 7 © Accountancy Tuition Centre (International Holdings) Ltd 2008 8
The continuing commitment by a business to behave Encompasses the economic, legal, ethical and
ethically and contribute to economic development philanthropic expectations placed on organisations by
while improving the quality of life of the workforce and society (Carroll)
their families as well as of the local community and ¾ Ethical practices
society at large. ¾ Ecology, environmental impact and protection
¾ Current and future needs of society
Refers to all of the impacts a company may have on
¾ Product design and customer relations
society and the need to deal with those impacts on all
stakeholders in a responsible way ¾ Employees, communities, human rights
© Accountancy Tuition Centre (International Holdings) Ltd 2008 9 © Accountancy Tuition Centre (International Holdings) Ltd 2008 10
Carroll Sustainability
© Accountancy Tuition Centre (International Holdings) Ltd 2008 11 © Accountancy Tuition Centre (International Holdings) Ltd 2008 12
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Global Reporting Initiative Carroll strategies
Economic Proactive
Environmental Reactive
Society
Product responsibility
© Accountancy Tuition Centre (International Holdings) Ltd 2008 13 © Accountancy Tuition Centre (International Holdings) Ltd 2008 14