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Chapter 1

CGMA Report on Managing

Responsible Business

Responsible business:

 is about an organisation’s commitment to operating in a way that is
economically, socially and environmentally sustainable

 means ensuring this commitment prevails while still upholding the
interests of various stakeholder groups.

Business ethics:

 is the application of values such as integrity, fairness, respect and
openness to organisational behaviour

 apply to all strategic and operational aspects of business conduct,
including sales and marketing techniques, accounting practices
and the treatment of suppliers, employees and customers

 may also be termed “business principles”, and are usually set out
in a code of ethics or similar policy document.

Ethical performance:

 is the extent to which an organisation’s behaviour aligns with its
stated ethical values and commitments.

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