A firm shall also improve upon its reporting of corporate governance and corporate social responsibility issues. This can be achieved by re-designing its mission and vision statements as well as by taking steps that can reflect its overall commitment to all stakeholders involved.
Ethical issues faced by organizations is one of the leading causes of not performing well as consumers are becoming more and more aware of their expectations from the businesses. The ethical orientation of the firm is often reflected through various disclosures that it makes and as such, all the disclosures made by the firm reflect a very poor attitude of the firm.
Empire Pub Company Plc’s mission statement as well as operational strategy is poorly written and does not reflect its overall stance on the various corporate governance as well as other ethical issues.
Similarly, corporate governance and corporate social responsibility statements are relatively short and present information that does not reflect whether the firm is actually taking steps to implement such initiatives or not.
The current situation described indicates an entirely new dimension of the firm and its ethical orientation. In the first assignment, it was discussed that the firm’s corporate governance mechanism was not entirely satisfactory because of the issues involving corporate social responsibility as well as the poor accounting disclosures. However, the current situation outlines different parameters that need to be studied in a more appropriate and broader context.
A brief look at the information provided will indicate that the firm has increased its focus on training its employees so that consistently high-quality customer services are offered to the customers. Similarly, it is also revealed that the role of the board of directors has mostly .remained the same with no or very little improvement made. .