Speaker Highlights for Corporate Governance and the Vision of the Firm
Author: Griffin, Jennifer
Global Accountability Standards to Advance Corporate Governance:
Examining Global and Local Implication
Professor and Director of the Global Stakeholder Strategies Program at the Institute for Corporate Responsibility
George Washington University
At present a common understanding of acceptable corporate practices does not exist, especially concerning socio-political engagement. Yet demands for universal thresholds of corporate behavior are accelerating at an increasing rate. Global accountability standards bridge the gap between building unified, consistent commitment and credibility while acknowledging needs for differentiation and local sensitivity. The role of global accountability standards in achieving these dual objectives—unified global standards alongside flexibility for local adaptation—is examined. We explore characteristics of multinationals lending themselves to adopting global accountability standards as well as conditions under which individualized, localized responses will prevail. We conclude with recommendations for managers 'stuck in the middle': those firms without corporate or voluntary global accountability standards and not operating in tune with the way their local communities work.