Assignment:
Answer the following question:
How would organizational leaders apply and use the data for implementing best practices in corporate culture and social responsibility?
The Ethics & Compliance Initiative asks the question: "With more and more organizations committing to higher quality programs, it begs the question: does it make a difference when a company dedicates more resources and heightens the priority of their E&C [ethics & compliance] efforts?" in its 2018 global business ethics survey (Ethics & Compliance, 2018).
The results were: data showed that improving a company's E&C program, at any stage of the program, has a positive impact on the company and its employees (Ethics, 2018).
A study done on the best practices of large firm in Taiwan found that in contrast to profitability, CSR is rarely incorporated into best practices selection. But globalization has forced corporations into acting in socially and ethically responsible ways (Yang, 2017).
Until this time, corporate social performance (CSP) has been measured by survey questionnaires, content analysis of annual reports, expert evaluations, and regulatory compliance data. However, the two most common ways of assessing the CSP of firms are equally weighting all CSP measures and assigning weights to CSP measures based upon stakeholder's preferences (Yang, 2017).
"Incorporating CSP into best practice selection may motivate firms and managers to more heavily emphasize social responsibility, environmental protection activities, and public expectations in addition to economic results" (Yang, 2017).
References
Ethics & Compliance Initiative.(2018, June). Measuring the impact of ethics & compliance programs.
Yang, F. (2017). Integrating corporate social responsibility and profitability into best practice selection: The case of large Taiwanese firms.
Readings:
A Global Leader's Guide to Managing Business Conduct
by Lynn S. Paine, Rohit Deshpandé, and Joshua D. Margolis