Instilling a Soul into an Organization: The Role of the Accountant
American Society for Business and Behavioral Sciences 14th Annual Conference, Las Vegas, Nevada, February 2007
16 Pages Posted: 11 Apr 2014
Date Written: February 22, 2007
There have been so many financial scandals in the last two decades that people do not trust big business. Firms and CEOs are seen as heartless and without a soul. The accounting profession, unfortunately, has been seen as part of the problem, not the solution. The authors feel that accountants should be at the forefront of those trying to inculcate values into a company. This article provides accountants with ideas on how to do this. Most are not only costless but actually help a firm. The benefits they provide are for the long term and assure growth and success for a firm and include a positive image, satisfied customers, happy and productive employees, high market share, and, probably, increased profits. Companies that are only concerned with “maximizing shareholder wealth” or “maximizing profit” will find themselves going the way Enron went.
Keywords: corporate social responsibility, business ethics, mission statement, maximization of shareholder wealth
JEL Classification: A22, A23, D81, G18, G21, I20, L20, L21, M14, M19, M31, Q20, Q38
Suggested Citation: Suggested Citation