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Corporate accountability is the acknowledgement and assumption of responsibility for the consequences of a company's actions. It can be defined in narrowly financial terms, e.g. for a business to meet certain standards or address the regulatory requirements of its business activities. [ 1 ]
The Oz Principle: Getting Results Through Individual and Organizational Accountability is a leadership book written by Roger Connors, Tom Smith, and Craig Hickman. [1] [2] It was first published in 1994. The book, which borrows its title from The Wonderful Wizard of Oz, discusses accountability and results. [3]
For example, the company's code of conduct might include a policy for prohibiting employees from accepting gifts from vendors. Governance A mechanism for monitoring how the resources of an organization are being put to an efficient use by management, with an emphasis on transparency and accountability Assignment of Authority and Responsibility
In leadership roles, [2] accountability is the acknowledgment and assumption of responsibility for actions, products, decisions, and policies including the administration, governance, and implementation within the scope of the role or employment position and encompassing the obligation to report, explain and be answerable for resulting ...
The cons to owning a small business include: Possible long work hours Many small business owners put in long hours to help their ideas prove fruitful, a phenomenon called sweat equity.
Accounting ethics is primarily a field of applied ethics and is part of business ethics and human ethics, the study of moral values and judgments as they apply to accountancy. It is an example of professional ethics. Accounting was introduced by Luca Pacioli, and later expanded by government groups, professional organizations, and independent ...
"Accountability" derives from the late Latin accomptare (to account), a prefixed form of computare (to calculate), which in turn is derived from putare (to reckon). [6] While the word itself does not appear in English until its use in 13th century Norman England, [7] the concept of account-giving has ancient roots in record-keeping activities related to governance and money-lending systems ...
In business and project management, a responsibility assignment matrix [1] (RAM), also known as RACI matrix [2] (/ ˈ r eɪ s i /; responsible, accountable, consulted, and informed) [3] [4] or linear responsibility chart [5] (LRC), is a model that describes the participation by various roles in completing tasks or deliverables [4] for a project or business process.