Gone are the days where companies were run mechanically and were simply concerned about maximising profits. Companies are now required to report on what is known as the soul of the company. The soul of the company is defined by how caring and ethical the organization is, (i.e.) three criteria:
1. What programmes does the company have to show that it cares for its’ employees- this speaks to internal Employee Wellness Programmes.
2. What programmes does the organisation have in place to show that it cares for the communities where it operates- this speaks to your Corporate Social Investments (CSI) programmes.
3. What programmes does the organisation have to show that it cares for the environment- are you aware of what impact your company has on the environment and what are you doing about it? (e.g. Campaigns such as “Going Green)
Then of course the issue of ethics which really is about conducting business in an ethical way. The focus here is about what system you as an organisation have to identify, quantify and manage risks that may lead to unethical behavior such as ones we have witnessed on bread price collision or bribery or even white collar crime. Shareholders of many companies now insist that the board presents the soul of the company over and above company financials, in many cases the fourth bottom line has become an audit requirement.
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