Filetype pdf foundations of corporate success

Time and time again, these three terms enter into the corporate governance discourse. They have immense value, whether a business is family-run, a nonprofit or a publicly traded company. That's one of the reasons why corporate governance is top of mind for so many business professionals. Above all, the role of corporate governance in modern organizations is to demonstrate these key principles to shareholders, stakeholders and the public.

The Role of Corporate Governance in Modern Organizations Let's take a closer look at two of these principles: transparency and trust.

Businesses today are held to incredibly high standards by investors and customers alike ' consider that 66 percent of global consumers told research firm Nielsen they would be willing to pay more for products from a company that demonstrates corporate social good. Being honest and open about process and operations counts a great deal. Both shareholders and consumers want to see companies operating with integrity.

Corporate governance allows companies to put their positive traits on display. With their intentions made visible to all, companies are more likely to be held accountable for their behavior and actions ' and thus more willing to distance themselves from duplicity.

This is especially crucial now that trust in businesses is on the decline. Communications and marketing firm Edelman's annual Edelman Trust Barometer , a global survey that measures consumers' trust in business, the media, the government and nongovernmental organizations, found that trust in all four is down for the first time in 17 years. The credibility of CEOs is at an all-time low too, with 63 percent of survey respondents saying CEOs are somewhat credible or not credible at all.

But when trust is waning, corporate governance can lift it up again. Displaying Social Responsibility In an attempt to minimize the risk of distrust, companies go out of their way to emphasize their social responsibility in their corporate governance materials.

Doing so can go a long way toward putting shareholders' and customers' minds at ease. The Corporate Governance and Ethics section of Microsoft's website, meanwhile, stresses that the company strives to "build and maintain trust through a shared commitment to ethical behavior and to act with integrity in everything we do.

As explained in a recent PRWeek magazine article, corporate governance "affects and dictates the internal functioning and morale of a company, and it also projects externally to the public. A company's unique culture permeates everything from vision to values, organizational structure, work environment and hiring practices, so it stands to reason that it should affect corporate governance, too. According to EY , "Corporate culture is emerging as an important consideration for boards and audit committees, touching as it does every aspect of a company, from strategy to compliance.

The more involved boards become in corporate governance, the more they influence company culture ' and vice versa. For example, on its website, Nestl? It ensures the long-term success of our company based on a clear strategy and good corporate governance. Its focus on corporate culture helps us align the interests between our business, our wider stakeholders and society.

It can also shape a company's culture, which, in turn, shapes the way an organization's leaders lead, the way its workers work and how customers perceive the businesses with which they choose to engage. Security Matters Given that good corporate governance is linked to transparency, accountability and trust, the issue of security warrants special attention.

Communication may be just one facet of corporate governance, but the fact that it includes the internal and external exchange of invaluable data and information makes prioritizing cybersecurity a key part of company policy. Drafting a board communications plan is a good way to ensure all parties are on the same page about communication best practices. We all have a duty to play our part in efforts to protect the natural world and achieve sustainable climate objectives.

If your company wants to make progress in this area, implementing the international standard ISO and introducing an environmental management system is a crucial step. By using this standard as a guide, you can lay the foundations for continual improvement of environmental performance within your organization.

But what details do you need to make an informed decision on the introduction of an environmental management system and certification according to ISO ? What advantages does the ISO standard offer — and how much will it cost?

This whitepaper will provide you with the information you need as well as a practical implementation plan, complete with checklists that cover all important points. Find out how to set up an efficient QMS and motivate all employees to engage with it. How your ISO environmental management system can contribute to reaching the 17 UN sustainability goals.

The infographic shows concrete effects of an environmental management system in line with the international …. Goodbye paperwork! Hello transparency and collaboration!