Search results for: corporate culture

Authors: Vani Tanggamani, Azlan Amran

Abstract:

The issues of Corporate Social Responsibility (CSR) have been extended from developmental economics to corporate and business in recent years. Research in issues related to CSR is deemed to make higher impacts as CSR encourages long-term economy and business success without neglecting social, environmental risks, obligations and opportunities. Therefore, CSR is a key matter for any organisation aiming for long term sustainability since business incorporates principles of social responsibility into each of its business decisions. Thus, this paper presents a theoretical proposition based on stakeholder theory from the organisational perspective as a foundation for better CSR practices. The primary subject of this paper is to explore how looping concept can be effectively embedded into corporate CSR strategy to foster sustainable long term growth. In general, the concept of a loop is a structure or process, the end of which is connected to the beginning, whereas the narrow view of a loop in business field means plan, do, check, and improve. In this sense, looping concept is a blend of balance and agility with the awareness to know when to which. Organisations can introduce similar pull mechanisms by formulating CSR strategies in order to perform the best plan of actions in real time, then a chance to change those actions, pushing them toward well-organized planning and successful performance. Through the analysis of an exploratory study, this paper demonstrates that approaching looping concept in the context of corporate CSR strategy is an important source of new idea to propel CSR practices by deepening basic understanding through the looping concept which is increasingly necessary to attract and retain business stakeholders include people such as employees, customers, suppliers and other communities for long-term business survival. This paper contributes to the literature by providing a fundamental explanation of how the organisations will experience less financial and reputation risk if looping concept logic is integrated into core business CSR strategy.The value of the paper rests in the treatment of looping concept as a corporate CSR strategy which demonstrates "looping concept implementation framework for CSR" that could further foster business sustainability, and help organisations move along the path from laggards to leaders.

Keywords: corporate social responsibility, looping concept, stakeholder theory, sustainable growth

Procedia PDF Downloads 400

Authors: Anouschka Swart

Abstract:

In 2023, sport faces a plethora of challenges including but not limited to match-fixing, corruption and doping to its integrity that, threatens both the commercial and public appeal. The continuous changes and commercialisation that has occurred within sport have led to a variety of consequences resulting in the need for ethics to be revived, as it used to be in the past to ensure sport is not in danger. In order to understand governance better, the Institute of Directors in Southern Africa, a global network of professional firms providing Audit, Tax and Advisory services, outlined a process explaining all elements with regards to corporate governance. This process illustrates a governing body’s responsibilities as strategy, policy, oversight and accountability. These responsibilities are further elucidated to 16 governing principles which are highlighted as essential for all organisations in order to achieve and deliver on effective governance outcomes. These outcomes are good ethical culture, good performance, effective control and legitimacy therefore, the aim of the study was to investigate the general state of governance within the clubs affiliated with a rugby club in South Africa by utilizing the King IV Code as the framework. The results indicated that the King Code IV principles are implemented by these rugby clubs to ensure they demonstrate commitment to corporate governance to both internal and external stakeholders. It is however evident that a similar report focused solely on sport is a necessity in the industry as this will provide more clarity on sport specific problems.

Keywords: South Africa, sport, King IV, responsibilities

Procedia PDF Downloads 70

Authors: Jo Rhodes, Bruce Bergstrom, Peter Lok, Vincent Cheng

Abstract:

The aim of this study is to determine key factors and processes for multinationals (MNCs) to develop an effective stakeholder engagement and sustainable development framework. A qualitative multiple-case approach was used. A triangulation method was adopted (interviews, archival documents and observations) to collect data on three global firms (MNCs). 9 senior executives were interviewed for this study (3 from each firm). An initial literature review was conducted to explore possible practices and factors (the deductive approach) to sustainable development. Interview data were analysed using Nvivo to obtain appropriate nodes and themes for the framework. A comparison of findings from interview data and themes, factors developed from the literature review and cross cases comparison were used to develop the final conceptual framework (the inductive approach). The results suggested that stakeholder engagement is a key mediator between ‘stakeholder network’ (internal and external factors) and outcomes (corporate social responsibility, social capital, shared value and sustainable development). Key internal factors such as human capital/talent, technology, culture, leadership and processes such as collaboration, knowledge sharing and co-creation of value with stakeholders were identified. These internal factors and processes must be integrated and aligned with external factors such as social, political, cultural, environment and NGOs to achieve effective stakeholder engagement.

Keywords: stakeholder, engagement, sustainable development, shared value, corporate social responsibility

Procedia PDF Downloads 513

Authors: Esmaeil Kouhgardi, Saeedeh Dashti, Hakimeh Fekrandish

Abstract:

This research has been conducted to study the method of culture and comparing growth and biomass of Gracilariacorticata cultured on rope and net for 50 days through two treatments (first treatment: culture of alga on net and the second treatment: culture of alga on rope and each treatment was repeated by four cases). During culture period, the water of aquariums was replaced once every two days for 40-50%. Also, 0.3-0.5 grams of Urea fertilizer was added to the culture environment for fertilization. Moreover, some of the environmental factors such as pH, salinity and temperature of the environment were measured on a daily basis. During the culture period, extent of longitudinal growth of the species of both treatments was equal. The said length was reached from 8-10 cm to 10.5-13 cm accordingly. The resulted weight in repetitions of the first treatment was higher than that of the second treatment in such a way as in the first treatment, its weight reached from 10 grams to 21.119 grams and in the second treatment, its weight reached from 10 grams to 17.663 grams. On a whole, it may be stated that that kind of alga being studied has a considerable growth with respect to its volume. The results have revealed that the percentage of daily growth and wet weight at the end of the first treatment was higher than that of the second treatment and it was registered as 0.934, 6.072 and 811.432 in the first treatment and 0.797, 4.990 and 758.071 in the second treatment respectively. This difference is significant (P < 0.05). Growth and biomass of G. corticata through culture on net was more emphasizing on numerous branches due to wider bed. Moreover, higher level of the species in this method was exposed to sunlight and this increased biosynthesis and eventually increases of growth and biomass.

Keywords: red alga, growth, biomass, culture, net, rope

Procedia PDF Downloads 437

Authors: Shreya Sirohi, Vineeta Sirohi

Abstract:

In the 21st century, the nature of work has become quite complex and dynamic, and in response to this, the organizational culture continues to change and develop new perspectives. Organizational culture and leadership are important elements of any organization. Organization’s performance and success to a large extent, depend upon these two factors. The ability of a leader lies in confronting with the challenge of evolving and adapting the culture of the organization as per the situational demands. Leadership and organizational culture are conceptually intertwined. Leadership is a key ingredient for the successful transformation of any organization, and a favorable organizational culture helps to motivate the employees towards their work. Organizational culture and leadership style plays a crucial role in achieving the specified objectives of an organization. The harmony between culture and leader within organization undoubtedly affects relationships, processes, and employee performance. The present investigation aimed to study the Leadership style and Organisational Culture of private organizations and the relationship between the two. The study was carried out on a sample of 100 employees from five private organizations located in the cities of Gurgaon and Delhi in India. The data was collected by employing organisational culture profile and multifactor leadership questionnaire. The findings of the study indicate that the selected organizations had dominant transformation leadership style, whereas the organizational culture varied from one organization to another. However, technocratic culture was found to be prominent, followed by entrepreneurial organizational culture. A low positive correlation was found between leadership style and organizational culture. The transformational leaders have a positive and significant relationship with employee’s satisfaction, productivity, and organization’s culture. The leaders practicing transformational leadership style inspire their followers, are innovative and are aware of their needs as well as of their followers. Such leadership style has a positive impact both on employees and working culture. Employees of such organization are able to come up with innovative ideas and are efficient in handling situations and making effective decisions. However, low correlation is self indicative of the fact that a single leadership style or a single culture type alone cannot contribute solely towards the growth of an organization. There is a need to blend the culture types and leadership styles suiting the needs of the organization. Organisational culture represents the deeper values and beliefs of the employees and influences organizational performance; hence, the leader has a crucial role to play in creating and managing organizational culture in aligning to the requirements of the present era of competitiveness, globalization and technological advancement.

Keywords: leadership style, organizational culture, technocratic, transformational

Procedia PDF Downloads 138

Authors: Said Al Saifi

Abstract:

This paper proposes a conceptual model for understanding the impact of organisational culture on knowledge management processes and their link with organisational performance. It is suggested that organisational culture should be assessed as a multi-level construct comprising artifacts, espoused beliefs and values, and underlying assumptions. A holistic view of organisational culture and knowledge management processes, and their link with organisational performance, is presented. A comprehensive review of previous literature was undertaken in the development of the conceptual model. Taken together, the literature and the proposed model reveal possible relationships between organisational culture, knowledge management processes, and organisational performance. Potential implications of organisational culture levels for the creation, sharing, and application of knowledge are elaborated. In addition, the paper offers possible new insight into the impact of organisational culture on various knowledge management processes and their link with organisational performance. A number of possible relationships between organisational culture factors, knowledge management processes, and their link with organisational performance were employed to examine such relationships. The research model highlights the multi-level components of organisational culture. These are: the artifacts, the espoused beliefs and values, and the underlying assumptions. Through a conceptualisation of the relationships between organisational culture, knowledge management processes, and organisational performance, the study provides practical guidance for practitioners during the implementation of knowledge management processes. The focus of previous research on knowledge management has been on understanding organisational culture from the limited perspective of promoting knowledge creation and sharing. This paper proposes a more comprehensive approach to understanding organisational culture in that it draws on artifacts, espoused beliefs and values, and underlying assumptions, and reveals their impact on the creation, sharing, and application of knowledge which can affect overall organisational performance.

Keywords: knowledge application, knowledge creation, knowledge management, knowledge sharing, organisational culture, organisational performance

Procedia PDF Downloads 576

Authors: Amir M. Shikhli, Refaat H. Abdel-Razek, Salaheddine Bendak

Abstract:

Innovation is considered to be one of the key factors that influence long-term success of any company. The problem of many organizations in developing countries is trying to implement innovation without a strong basis within the organizational culture to support it. The objective of this study is to assess the effects of organizational culture on innovation in one of the biggest information technology organizations in UAE, Injazat Data System. First, an Organizational Culture Assessment Instrument (OCAI) was used as a survey and Competing Value Framework as a model to analyze the existing culture within the organization and determine its characteristics. Following that, a modified version of the Community Innovation Survey (CIS) was used to determine innovation types introduced by the organization. Then multiple linear regression analysis was used to find out the effects of existing organizational culture on innovation. Results show that existing organizational culture is composed of a combination of Hierarchy (29.4%), Clan (25.8%), Market (24.9%) and Adhocracy (19.9%). Results of the second survey show that the organization focuses on organizational innovation (26.8%) followed by market and product innovations (25.6%) and finally process innovation (22.0%). Regression analysis results reveal that for each innovation type there is a recommended combination of the four culture types. For product innovation, the combination is 47.4% Clan, 17.9% Adhocracy, 1.0% Market and 33.3% Hierarchy; for process innovation it is 19.7% Clan, 45.2% Adhocracy, 32.0% Market and 3.1% Hierarchy; for organizational innovation the combination is 5.4% Clan, 32.7% Adhocracy, 6.0% Market and 55.9% Hierarchy; and for market innovation it is 25.5% Clan, 42.6% Adhocracy, 32.6% Market and 8.4% Hierarchy. Based on these recommended combinations, this study suggests two ways to enhance the innovation culture in the organization. First, if the management decides on the innovation type to be enhanced, a comparison between the existing culture and the recommended combination of selected innovation types will lead to difference in percentages of each culture type. Then further analysis should show how to modify the existing culture to match the recommended combination. Second, if the innovation type is not selected, but the management wants to enhance innovation culture in the organization, the difference in percentages of each culture type will lead to finding out the recommended combination of culture types that gives the narrowest gap between existing culture and recommended combination.

Keywords: developing countries, organizational culture, innovation types, product innovation, process innovation, organizational innovation, marketing innovation

Procedia PDF Downloads 274

Authors: Janaka B. Lewis

Abstract:

“Narratives of Slavery and the Culture of Play” examines how play is discussed in early African American literature by both men and women to illustrate ways that they negotiated the hierarchy and oppression of enslavement. Reading narratives categorized as “slave narratives,” including those written by Frederick Douglass, Harriet Jacobs, and Olaudah Equiano, through the lens of play theory offers an illuminated analysis of the significance of play culture in these texts. It then reads late nineteenth-century play culture (or absence thereof) portrayed in literature as a lens for more contemporary African American oral and literary culture. These discussions of social constructions through literature bridge analyses of African American-authored texts and create a larger conversation about print media as a tool of activism and resistance. This essay also contributes to a larger body of analysis of nineteenth-century African American culture through literature.

Keywords: childhood, slavery, consciousness of play, 19th century African American culture

Procedia PDF Downloads 501

Authors: Mabroka B. Al-Werfalli

Abstract:

This paper looks at some aspects of Libya’s political culture relating to corruption and tries to map the links that bond political alienation to corruption. The subject was approached by surveying opinion. The study, of which culture of corruption was part, concerned the phenomena of political alienation in Libya. It was based on a survey conducted in winter 2001 and targeted a sample of 877 participants from the city of Benghazi. The questions were designed to determine the extent to which corruption is seen, by the Libyans, as a national problem. It also describes perceptions about levels, types and causes of corruption; trust in governmental institutions and senior officials of the State and assessments of anti-corruption regulations and actions taken by the regime.

Keywords: anti-corruption, corruption, culture of corruption, participating in corruption, political alienation, political culture

Procedia PDF Downloads 380

Authors: Jakub Stelina, Janina Ciechanowicz-McLean

Abstract:

Fifty years of existence and development of international environmental law brought a deep disappointment with efficiency and effectiveness of traditional command and control mechanisms of environmental regulation. Agenda 21 agreed during the first Earth Summit in Rio de Janeiro 1992 was one of the first international documents, which explicitly underlined the importance of public participation in environmental protection. This participation includes also the initiatives undertaken by business corporations in the form of private environmental standards setting. Twenty years later during the Rio 20+ Earth Summit the private sector obligations undertaken during the negotiations have proven to be at least as important as the ones undertaken by the governments. The private sector has taken the leading role in environmental standard setting. Among the research methods used in the article two are crucial in the analysis. The comparative analysis of law is the instrument used in the article to analyse the practice of states and private business companies in the field of sustainable development. The article uses economic analysis of law to estimate the costs and benefits of Corporate Social Responsibility Projects in the field of environmental protection. The study is based on the four premises. First is the role of social dialogue, which is crucial for both Corporate Social Responsibility and modern environmental protection regulation. The Aarhus Convention creates a procedural environmental human right to participate in administrative procedures of law setting and environmental decisions making. The public participation in environmental impact assessment is nowadays a universal standard. Second argument is about the role of precaution as a principle of modern environmental regulation. This principle can be observed both in governmental regulatory undertakings and also private initiatives within the Corporate Social Responsibility environmental projects. Even in the jurisdictions which are relatively reluctant to use the principle of preventive action in environmental regulation, the companies often use this standard in their own private business standard setting initiatives. This is often due to the fact that soft law standards are used as the basis for private Corporate Social Responsibility regulatory initiatives. Third premise is about the role of ecological education in environmental protection. Many soft law instruments underline the importance of environmental education. Governments use environmental education only to the limited extent due to the costs of such projects and problems with effects assessment. Corporate Social Responsibility uses various means of ecological education as the basis of their actions in the field of environmental protection. Last but not least Sustainable development is a goal of both legal protection of the environment, and economic instruments of companies development. Modern environmental protection law uses to the increasing extent the Corporate Social Responsibility. This may be the consequence of the limits of hard law regulation. Corporate Social Responsibility is nowadays not only adapting to soft law regulation of environmental protection but also creates such standards by itself, showing new direction for development of international environmental law. Corporate Social Responsibility in environmental protection can be good investment in future development of the company.

Keywords: corporate social responsibility, environmental CSR, environmental justice, stakeholders dialogue

Procedia PDF Downloads 299

Authors: David Osa-Egonwa

Abstract:

Visual culture is the expression of the norms and social behavior of a society in visual images. A reflection simply shows you how you look when you stand before a mirror, a clear water or stream. The mirror does not alter, improve or distort your original appearance, neither does it show you a caricature of what stands before it, this is the case with visual images created by a tribe or society. The ‘uli’ is hand drawn body design done on Igbo women and speaks of a culture of body adornment which is a practice that is appreciated by that tribe. The use of pattern of the gliding python snake ‘ije eke’ or ‘ijeagwo’ for wall painting speaks of the Igbo culture as one that appreciates wall paintings based on these patterns. Modern life came and brought a lot of change to the Igbo-speaking people of Nigeria. Change cloaked in the garment of Westernization has influenced the culture of the Igbos. This has resulted in a problem which is a break in the cultural practice that has also affected art produced by the Igbos. Before the colonial masters arrived and changed the established culture practiced by the Igbos, visual images were created that retained the culture of this people. To bring this point to limelight, this paper has adopted a historical method. A large number of works produced during pre and post-colonial era which range from sculptural pieces, paintings and other artifacts, just to mention a few, were studied carefully and it was discovered that the visual images hold the culture or aspects of the culture of the Igbos in their renditions and can rightly serve as a mirror of the Igbo visual culture.

Keywords: artistic renditions, historical method, Igbo visual culture, changes

Procedia PDF Downloads 188

Authors: Joel S. Akintayo, Ramat T. Salman

Abstract:

The stakeholders’ pressure on corporate managers to maintain firm’s profitability has created economic incentives for management to engage in earnings management practices. Therefore, this study examines the effects of audit quality and corporate governance on earnings management of quoted deposit money banks (DMBs) in Nigeria. This study specifically investigates the influence of audit tenure, audit fee, board independence, and board size on earnings management of DMBs. Explanatory research design was employed in carrying out the study while secondary data were sourced from the annual reports and accounts of all the 15 quoted DMBs in Nigerian Stock Exchange as at December 31, 2015 for a period of 10 years covering from 2006 to 2015. The data obtained for the study were analyzed using panel regression analysis approach. The findings reveal that board independence has a negative significant effect on earnings management at a 5% level of significance (p=0.002), while audit fee has a positive significant effect on earnings management at a 5% level of significance (p=0.013) and audit tenure has a negative significant effect on earnings management of DMBs at a 5% level of significance (p=0.003). Surprisingly, board size was statistically not significant at a 5% level of significance (p=0.086). The study concludes that high audit quality and sound corporate governance could improve the earnings quality of DMBs. Hence, the study recommends that the authorities saddled with the responsibility of banking supervision in Nigeria such the Securities and Exchange Commission (SEC) and CBN to advise the National Assembly in Nigeria to pass into law the three years professional requirement for audit tenure.

Keywords: audit quality, audit tenure, audit fee, board independence, corporate governance, earnings management

Procedia PDF Downloads 197

Authors: Sahar Jami, Iman Valizadeh

Abstract:

The purpose of the study: The aim of this study was to evaluate the influence of culture on the choice of capital structure management companies are listed in the Tehran Stock Exchange. Methods: This study was a cross-document using data after the event (Retrospective) in 1394 was performed. To select a sample of elimination sampling (screening) is used to determine the sample size was 123 companies. Results: The results showed that the variables of culture, return on equity, a significant positive impact on the capital structure (ROA, QTobins) and financial leverage and firm size variables and a significant negative impact on the capital structure (ROA, QTobins).

Keywords: culture management, capital structure, ROA, QTobins, variables of culture

Procedia PDF Downloads 466

Authors: Seigo Matsuno, Yasuo Uchida, Shozo Tokinaga

Abstract:

This paper proposes and empirically tests a model of the relationships between green supply chain management (GSCM) activities and corporate performance. From the literature review, we identified five constructs, namely, environmental commitment, supplier collaboration, supplier assessment, information sharing among suppliers, and business process improvement. These explanatory variables are used to form a structural model explaining the environmental and economic performance. The model was analyzed using the data from a survey of a sample of manufacturing firms in Japan. The results suggest that the degree of supplier collaboration has an influence on the environmental performance directly. While, the impact of supplier assessment on the environmental performance is mediated by the information sharing and/or business process improvement. And the environmental performance has a positive relationship on the economic performance. Academic and managerial implications of our findings are discussed.

Keywords: corporate performance, empirical study, green supply chain management, path modeling

Procedia PDF Downloads 392

Authors: Bi-Huei Tsai

Abstract:

Previous studies on financial distress prediction choose the conventional failing and non-failing dichotomy; however, the distressed extent differs substantially among different financial distress events. To solve the problem, “non-distressed”, “slightly-distressed” and “reorganization and bankruptcy” are used in our article to approximate the continuum of corporate financial health. This paper explains different financial distress events using the two-stage method. First, this investigation adopts firm-specific financial ratios, corporate governance and market factors to measure the probability of various financial distress events based on multinomial logit models. Specifically, the bootstrapping simulation is performed to examine the difference of estimated misclassifying cost (EMC). Second, this work further applies macroeconomic factors to establish the credit cycle index and determines the distressed cut-off indicator of the two-stage models using such index. Two different models, one-stage and two-stage prediction models, are developed to forecast financial distress, and the results acquired from different models are compared with each other, and with the collected data. The findings show that the two-stage model incorporating financial ratios, corporate governance and market factors has the lowest misclassification error rate. The two-stage model is more accurate than the one-stage model as its distressed cut-off indicators are adjusted according to the macroeconomic-based credit cycle index.

Keywords: Multinomial logit model, corporate governance, company failure, reorganization, bankruptcy

Procedia PDF Downloads 377

Authors: Kuntalee Vaitayavanich

Abstract:

This study aimed to look into roles of culture heroes of monks in Buddhism in Songkhla province during the last 50 years. Qualitative study, in-depth interviews, participatory observation and non-participatory observation were employed for this study. The results of the study indicated that culture heroes in Songkhla province would act as the followings. 1) For secular matters, monks would do something beneficial to the community. 2) For religious matters, monks would behave to follow Buddhism discipline strictly and unambitiously. At the same time, monks would not neglect to teach Buddhists to give respect to Lord Buddha by doing meditation and praying. However, when some of those culture heroes passed away, villagers in the community would show gratitude and appreciation by arranging a religious death anniversary ceremony, having icon, or having narrative to recognize those, continuously.

Keywords: narrative of monks, culture heroes, Songkhla province, social sustainability

Procedia PDF Downloads 382

Authors: Mohammad Reza Bagherzadeh, Mohammad Hossein Taheri

Abstract:

Knowledge management serves as one of the great breakthroughs in information and knowledge era and given its outstanding features, successful organizations tends to adopt it. Therefore, to deal with knowledge management establishment in universities is of special importance. In this regard, the present research aims to shed lights on factors background knowledge management establishment at Islamic Azad University, Behshahr Branch (Northern Iran). Considering three factors information technology system, knowledge process system and organizational culture as a fundamental of knowledge management infrastructure, foregoing factors were evaluated individually. The present research was conducted in descriptive-survey manner and participants included all staffs and faculty members, so that according to Krejcie & Morgan table a sample size proportional to the population size was considered. The measurement tools included survey questionnaire whose reliability was calculated to 0.83 according to Cronbachs alpha. To data analysis, descriptive statistics such as frequency and its percentage tables, column charts, mean, standard deviation and as for inferential statistics Kolomogrov- Smirnov test and single T-test were used. The findings show that despite the good corporate culture as one of the three factors background the establishment of the knowledge management at Islamic Azad University Behshahr Branch, other two ones, including IT systems, and knowledge processes systems are characterized with adverse status. As a result, these factors have caused no necessary conditions for the establishment of Knowledge Management in the university provided.

Keywords: knowledge management, information technology, knowledge processes, organizational culture, educational institutions

Procedia PDF Downloads 520

Authors: Zaidatol Akmaliah Lope Pihi, Suhaida Abd. Kadir, Keetanjaly Arivayagan

Abstract:

Lately in educational organization, voluminous studies accentuate the momentous of leadership in mobilizing creativity. Creativity skill is seen as one of the important skills required for the 21st century leadership, which is also known as the tool for creative leader’s mind in engaging and stimulating ideas to execute outcomes. Hence, leaders should create an opportunity by involving every employee and stakeholders in schools to contribute their ideas towards developing creative solutions to enhance school productivity. The focal point of this article is to offer a conceptual framework on creative leadership practices among school leaders towards collaborative school culture. Intensive reviews of literature will be used in the fields of creative leadership and school culture with the aim to nurture leaders into better leaders and encourage collaborative school culture. The framework contributes a new shed on the implication of creative leadership practices and collaborative school culture. It also will contribute a new theory development and offered suggestions for follow up research.

Keywords: 21st century leadership, creative leadership, collaborative, school culture

Procedia PDF Downloads 395

Authors: Philemon Rakoto

Abstract:

Most executive compensation packages consist of four major components: base fixed salary, annual and long-term non-equity incentive plans, share-based and option-based awards and pension value. According to agency theory, the relative composition of executive compensation packages is one of the mechanisms that firms use to align the interests of executives and shareholders in order to mitigate agency costs. This paper tests the effect of the relative composition of executive compensation packages on financial reporting quality. Financial reporting quality is measured by the value relevance of accounting earnings. Corporate governance is a moderating variable in the model. Using data from Canadian firms composing S&P/TSX index of the year 2013 and governance scores based on Board Games, the analysis shows that, only for firms with good governance, there is an optimal level of the proportion of executive equity-based compensation in relation to total compensation that enhances the quality of financial reporting.

Keywords: Canada, corporate governance, executive compensation packages, financial reporting quality

Procedia PDF Downloads 351

Authors: Jeanetta Darno

Abstract:

This paper explores the realm of organizational development through the lens of Edgar Schein's seminal work on culture and change. Specifically, the paper will focus on the strategic implementation of Employee Resource Groups (ERGs) as powerful interventions for catalyzing culture change within modern workplaces. Edgar Schein's foundational theories on organizational culture and his renowned model of culture work will serve as the theoretical framework to guide the exploration of how ERGs can be harnessed as transformative tools in organizational development initiatives. Through a review of literature combined with content analysis, this paper will explore how ERGs align with Schein's principles, contribute to development, and drive positive cultural shifts toward inclusion and equity. The paper aims to provide practical insights for organizational leaders, HR practitioners, and change agents looking to integrate ERGs effectively into their culture change efforts, thereby advancing the field of organizational development informed by Schein's influential framework. The objective of the paper is to investigate and understand the intersection between Employee Resource Groups (ERGs) and Edgar Schein's Culture Work within the context of organizational development.

Keywords: inclusive leadership, culture, equity, employee resource groups, organization development

Procedia PDF Downloads 80

Authors: Jagbir Singh Kadyan

Abstract:

This research paper critically analyse the performance of those Indian Automobile Companies which are listed and traded on the National Stock Exchange (NSE) of India and which are also included in the NSE nifty auto Index. In India, CSR–Corporate Social Responsibility is mandatory for certain qualifying companies under the Indian Companies Act 2013, which replaces the erstwhile Companies Act 1956. There has been a significant shift in the focus and approaches of the Indian Corporates towards their CSR obligations with the insertion of section 135, revision of section 198 and introduction of schedule VII of the Indian Companies Act 2013. Every such qualifying companies are required to mandatorily spend at least 2% of their annual average net profit of the immediately preceding three financial years on such CSR activities as specified under schedule VII of the Companies act 2013. This research paper analyzes the CSR performance of such Indian companies. This research work is originally based on the secondary data. The annual reports of the selected Indian automobile companies have been extensively used and considered for this research work.

Keywords: board of directors, corporate social responsibility, CSR committees, Indian automobile companies, Indian companies act 2013, national stock exchange

Procedia PDF Downloads 538

Authors: Kimberly Auger

Abstract:

This paper offers a rudimentary vision of a French Immersion Framework based on inclusion and equity in an Ontario school system. It examines the role that culture plays in responsive and equitable French Immersion education firstly by contextualizing French Immersion Education and Equity and Inclusive Education in the historical and political situation of Ontario, Canada. By laying a foundational understanding of the role culture plays in education, it then argues the importance of acknowledging and including teacher culture, student culture, and school culture into a French Immersion Framework to create a space that is more equitable, inclusive, and responsive to all.

Keywords: French immersion education, Ontario education, equity and inclusive education, bilingual education

Procedia PDF Downloads 17

Authors: Adesina Nathaniel Olanrewaju

Abstract:

The motivation behind this study is the need to see strategic leadership as one of the key driving forces for improving corporate performance. Strategic leadership is seen as a potent source of management development and sustained competitive advantage for both employee and organizational performance. There is currently a charge on leaders as a major cause of organizational failure. Stakeholders give what they can afford, not necessarily what the organization needs and impose operational and financial decisions on the leaders, 200 respondents were fit for the analysis from the six geo-political regions in Nigeria. The selection was done equally among various parastatals through random sampling technique from the south-south, south-east, south-west, north-east, north-west and north-central. A descriptive research of the survey was employed. The data were subjected to t-test analysis and correlation and regression were used for the analysis. The findings revealed that there is a strong relationship and impact between a strategic leader and corporate performance. Recommendations were made based on the findings that strategic leaders should be given the blueprint, company’s policy and the stakeholders’ expectation within a time frame the work is to be carried out.

Keywords: time, strategic, organization, stakeholder, leader, performance

Procedia PDF Downloads 305

Authors: Tina Vuko, Marija Maretić, Marko Čular

Abstract:

The aim of this study is to analyze the role and effectiveness of internal mechanism (audit committee) of corporate governance on credit institutions performance in Croatia. Based on research objective, sample of 78 credit institutions listed on Zagreb Stock Exchange, from 2007 to 2012, has been collected and efficiency index of audit committee (EIAC) has been created. Based on the sample and created EIAC, conclusions are as follows: audit committees of credit institutions have medium efficiency, based on EIAC measurement; there is a significant difference in audit committee effectiveness, in observed period; there is no positive relationship between audit committee effectiveness and credit institution performance; there is a significant difference between level of audit committee effectiveness and audit firm type. Future research should contain increased number of elements in EIAC creation and increased sample, for all obligators who need to establish audit committee.

Keywords: corporate governance, audit committee, financial institutions, efficiency index of audit committee

Procedia PDF Downloads 320

Authors: S. N. Susenburger, D. Boecker

Abstract:

In the age of Volatility, Uncertainty, Complexity, and Ambiguity (VUCA), where digital transformation is challenging long standing traditional hardware and manufacturing companies, innovation needs a different methodology, strategy, mindset, and culture. What used to be a mindset of scaling per quantity is now shifting to orchestrating ecosystems, platform business models and service bundles. While large corporations are trying to mimic the nimbleness and versatile mindset of startups in the core of their digital strategies, they’re at the frontier of facing one of the largest organizational and cultural changes in history. This paper elaborates on how a manufacturing giant transformed its Corporate Information Technology (IT) to enable digital and Internet of Things (IoT) business while establishing the mindset and the approaches of the Innovation Inside-Out/Outside-In Strategy. It gives insights into the core elements of an innovation culture and the tactics and methodologies leveraged to support the cultural shift and transformation into an IoT company. This paper also outlines the core elements for an innovation culture and how the persona 'Connected Engineer' thrives in the digital innovation environment. Further, it explores how tapping domain-focused ecosystems in vibrant innovative cities can be used as a part of the strategy to facilitate partner co-innovation. Therefore, findings from several use cases, observations and surveys led to conclusion for the strategy tandem of Innovation Inside-Out/Outside-In. The findings indicate that it's crucial in which phases and maturity level the Innovation Inside-Out/Outside-In Strategy is activated: cultural aspects of the business and the regional ecosystem need to be considered, as well as cultural readiness from management and active contributors. The 'not invented here syndrome' is a barrier of large corporations that need to be addressed and managed to successfully drive partnerships, as well as embracing co-innovation and a mindset shifting away from physical products toward new business models, services, and IoT platforms. This paper elaborates on various methodologies and approaches tested in different countries and cultures, including the U.S., Brazil, Mexico, and Germany.

Keywords: innovation management, innovation culture, innovation methodologies, digital transformation

Procedia PDF Downloads 144

Authors: Khaled Alotaibi, Salah Alhamadi, Ibraheem Almubarak

Abstract:

The study attempts to explore both corporate governance (GC) and business ethics (BE) practices in Kuwaiti banks and the relationship between CG and BE, using an accountability framework. By examining the perceptions of key stakeholder groups, this study investigates the practices of BE and CG in Islamic banks (IBs) compared to conventional banks (CBs). We contribute to the scarce studies concerned with relations between CG and BE. We have employed a questionnaire survey method for a random sample of crucial relevant stakeholder groups. The empirical analysis of the participants’ perceptions highlights the importance of applying CG regulations and BE for Kuwaiti banks and the clear link between the two concepts. We find that the main concern is not the absence of CG and BE codes, but the lack of consistent enforcement of the regulations. Such a system needs to be strictly and effectively implemented in Kuwaiti banks to protect all stakeholders’ wealth, not only that of stockholders. There are significant patterns in the CG and BE expectations among different stakeholder groups. Most interestingly, banks’ client groups illustrate high expectations concerning CG and BE practices.

Keywords: corporate governance, GC, business ethics, BE, Islamic banks, IBs, conventional banks, CBs, accountability

Procedia PDF Downloads 155

Authors: María-José Palacin-Sanchez, Filippo Di Pietro, Reyes Samaniego-Medina

Abstract:

This article examines, in an institutional context such as Spanish one, the corporate board structure characteristics and determinants in entrepreneurial firms to go public. Specifically, it explores these issues through all the initial public offerings in the Spanish Alternative Equity Market (MAB), which is a market segment for smaller growing companies. The results show that: a) firm size, age of the company, and the reputation of the auditor and the nominated advisor and Corporate Governance Code favour a larger and more independent board structure that enhances its monitoring functions; and b) leverage, opportunities of growth, sector risk and ownership by executive directors all lead towards a smaller broad of directors where the role of entrepreneurship provided by executive directors remains crucial. This reflects the delicate balance of power between small-business entrepreneurs and financial equity market forces, which demand more transparency and monitoring in the companies.

Keywords: board composition, board size, corporate governance, IPO, SMEs

Procedia PDF Downloads 400

Authors: A. R. Nor Azlina, H. Salwana, I. Zuraeda, A. R. Rashidah, O. Normah

Abstract:

Transitioning towards globalization in the business environment has necessitated more essential growing changes such as competition, business strategy, innovation in technology and effectiveness of societal trends on adopting corporate governance are seen to be drivers of the future. This transformations on business environment has a significant impact to organizations’ performances. Many organizations are demanding for more proactive entrepreneurs with dynamic team, who can run and steer their business to success. Changing on strategy, roles, tasks, entrepreneurial skills and implementing corporate governance in relationship development is important to enhance the organization’s performance towards being more cost-efficient and subsequently increase its efficiency. Small Medium Enterprises (SMEs) in most developing countries are contributors to the economic growth of a nation. However, the potential of Microfinance Institutions (MFIs) is always overlooked in contributing towards SMEs development. The adoption of corporate governance and accountability in MFIs as driving forces for these SMEs is not incorporated in measurements of organization performance. This paper attempts to address some of the governance issues associated with dimensions of accountability in improving performances of microfinance institutions. Qualitative approach was adopted in this study to analyze the data collected. The qualitative approach emerges as contributing factor in understanding and critiquing accountability processes, as well as addressing the concerns of practitioners and policymakers. A close researcher engagement with the field which concerns process, embracing of situational complexity, as well as critical and reflective understandings of organizational phenomena remain as hallmarks of the tradition. It is concluded that in describing and scrutinizing an understanding of managerial behavior, organizational factors and macro-economic relationship in SMEs firm need to be improved. This is also the case in MFIs. A framework is developed to explore the linkage of corporate governance and accountability issues related to entrepreneurship as factors affecting MFIs performances in facing ongoing transformation of organization performance within Malaysian SMEs industries.

Keywords: accountability, corporate governance, microfinance, organization performance

Procedia PDF Downloads 390

Authors: Redha M. Elhuni

Abstract:

The critical key success factors, which have to be targeted with appropriate change management, are the user acceptance and support of a new Enterprise Resource Planning (ERP) system at the early implementation stages. This becomes even more important in Arab context where national and organisational culture with a different value and belief system, resulting in different management styles, might not complement with Western business culture embedded in the predefined standard business processes of existing ERP packages. This study explains and critically evaluates research into national and organizational culture and the influence of different national cultures on the implementation and reengineering process of ERP packages in an Arab context. Using a case study, realized through a quantitative survey testing five of Martinsons’s and Davison’s propositions in a Libyan sample company, confirmed the expected results from the literature review that culture has an impact on the implementation process and that employee empowerment is an unavoidable consequence of an ERP implementation.

Keywords: enterprise resource planning, ERP systems, organisational culture, Arab context

Procedia PDF Downloads 316

Authors: Şeyda Kaya

Abstract:

The aim of this study is to examine the relationship between corporate social responsibility perception and organizational commitment among Turkish cabin crew. At the same time, the social responsibility perception and organizational commitment scores of the participants were compared according to their gender, age, education level, title, and work experience. In the globalizing world, businesses have developed some innovative marketing methods in order to survive and strengthen their place in the market. Nowadays, consumers who are connected to the brand with an emotional bond rather than being just consumers. Corporate Social Responsibility Projects, on the one hand, provide social benefit, on the other hand, increase the brand awareness of businesses by providing credibility in the eyes of consumers. The rapid increase of competition, requires businesses to use their human resources, which is the most important resource to sustain their existence, in the most effective and efficient way. For this reason, the concept of ‘Organizational Commitment’ has become an important research topic for business and academics. Although there are studies in the literature to determine the effect of the perception of corporate social Responsibility on Organizational Commitment in Banking and Finance and Tourism sectors, there are no studies conducted specifically for the Turkish aviation sector to our best knowledge. Personal information form, CSR scale, Importance of CSR scale, Organizational commitment scale were used as data collection tools in the research. CSR Scale created by Türker (2006). was used to find out how employees felt about CSR. Importance of CSR Scale through a subscale of the Perceived Role of Ethics and Social Responsibility (PRESOR) that Etheredge (1999) converted into a two-factor framework, the significance of social responsibility for employees was assessed. Organizational Commitment Scale, Mowday, Steers, and Porter (1979) created the OCQ, which uses 15 measures to evaluate global commitment to the organization. As a result of the study, there is a significant positive relationship between the participants' CSR scale sub-dimensions, CSR to Employees, CSR to Customers, CSR to Society, CSR to Government, CSR to Natural Environment, CSR to Next Generation, CSR to Governmental Organizations, Importance of CSR, and Organizational Commitment scores. As a result; as the participants' Corporate Social Responsibility scores increase, their organizational commitment increases. To summarize the findings of our study, the scores obtained from the CSR scale and the scores obtained from the Organizational Commitment scale were found to have a positive and significant relationship. In other words, if the participants value the corporate social responsibility projects of the institution they work for and think that they spare time and effort, the importance they attach to the corporate social responsibility projects and their organizational commitment to the institution they work for, increase. Similarly, the scores obtained from the Importance of CSR and the scores obtained from the Organizational Commitment scale also have a positive and significant relationship. As the importance given to corporate social responsibility projects by the participants increases, their organizational commitment to the institution they work for also increases.

Keywords: corporate social responsibility, organizational commitment, Turkish cabin crew, aviation

Procedia PDF Downloads 109