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Corporate Social Responsibility CSR and Strategy Fig 9.4 The Communication of Information Technical noise is that such as occurs on a telephone or radio which is concerned with the technical means of communication. A more crucial type of noise however is semantic noise which occurs because a message is not transmitted in a clear and unambiguous manner and so is not correctly understood by the recipient. Quantitative information is less likely to be misunderstood than qualitative information and this is one of the importance features of accounting information. Management accounting therefore has an important part to play not just in enabling decisions to be made but also in the communication of this information. 9.5 The importance of performance measurement In order for a business to be able to control its operations it is necessary that the managers of that business are able to measure the performance of the business and of individual parts of that business. A significant feature of business management therefore is the need to measure and evaluate performance, both of the business as a whole and of individual parts of that business. Of equal significance is the ability to evaluate the performance of individual managers. This is of importance to the business but particularly to the managers themselves, as their rewards are increasingly based, at least in part, upon an assessment of their performance. Increasingly also managerial rewards are based upon a variety of aspects of performance and this includes their effect upon the CSR activity of the corporation. This is another reason why CSR is being increasingly linked into the strategic planning process. 9.6 Managers and business ethics Business ethics is a subject of considerable importance to any organisation and we have considered some of the high profile business failures which have led to the current interest in 108 Download free ebooks at bookboon.com
Corporate Social Responsibility CSR and Strategy CSR. Freedom in the markets is of course another source of potential abuse and unethical behaviour and late 2008 provides just such an example where the misbehaviour in the housing lending market – the so called sub-prime scandal – has led the serious economic problems in the USA which then spread elsewhere. Accounting information has often been accused of providing an excuse for unethical behaviour. Indeed this accusation has been extended to accountants and business managers generally who have been accused of behaving unethically in their search for profits to the exclusion of all else. The unethical ways in which accounting information has been used have been described in detail by Smith (1992) who describes the way in which new accounting techniques have been created with the sole purpose of boosting reported profits. these techniques have become known as creative accounting and have been the subject of much media attention. Smith’s book, "Accounting for Growth", makes interesting reading for any prospective business manager. Trust and responsibility Please click the advert NNE and Pharmaplan have joined forces to create NNE Pharmaplan, the world’s leading engineering and consultancy company focused entirely on the pharma and biotech industries. Inés Aréizaga Esteva (Spain), 25 years old Education: Chemical Engineer – You have to be proactive and open-minded as a newcomer and make it clear to your colleagues what you are able to cope. The pharmaceutical field is new to me. But busy as they are, most of my colleagues find the time to teach me, and they also trust me. Even though it was a bit hard at first, I can feel over time that I am beginning to be taken seriously and that my contribution is appreciated. NNE Pharmaplan is the world’s leading engineering and consultancy company focused entirely on the pharma and biotech industries. We employ more than 1500 people worldwide and offer global reach and local knowledge along with our all-encompassing list of services. nnepharmaplan.com Download free ebooks at bookboon.com 109
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