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Explain how links between CSR and corporate governance provide benefit to the organisation.

Lesson 76/120 | Study Time: Min
Course: BBA in Accounting and Finance


Explain how links between CSR and corporate governance provide benefit to the organisation.


Explain how links between CSR and corporate governance provide benefit to the organization.

Corporate Social Responsibility (CSR) and corporate governance are closely linked and provide several benefits to an organization. Let's explore how these two concepts are interconnected and how they contribute to the success and sustainability of businesses.

Did you know? According to a study by Harvard Business School, companies that actively practice CSR and have a strong corporate governance framework have higher financial performance and are more attractive to investors.

Corporate Social Responsibility (CSR): CSR refers to a company's commitment to operating in an ethical and responsible manner, taking into account the impact of its operations on various stakeholders, including employees, customers, communities, and the environment. It involves going beyond legal obligations and actively addressing social, environmental, and ethical issues.

Corporate Governance: Corporate governance encompasses the structures, policies, and processes that guide a company's operations, decision-making, and accountability. It ensures that the interests of various stakeholders, such as shareholders, employees, customers, and society at large, are protected and balanced.

🌱 Real Story: Patagonia's approach to CSR and Corporate Governance Patagonia, a well-known outdoor clothing company, is an excellent example of how the links between CSR and corporate governance can provide significant benefits to an organization. The company has embraced sustainability as a core value and integrated it into its business model.

💡 Benefit #1: Enhanced Reputation and Brand Image By actively practicing CSR and upholding strong corporate governance practices, organizations can enhance their reputation and brand image. Consumers today are increasingly conscious of the social and environmental impact of their purchasing decisions. Companies that are seen as socially responsible and governed ethically are more likely to attract customers who align with their values. For example, Patagonia's commitment to environmental sustainability has helped build a loyal customer base and a strong brand image.

🔗 Benefit #2: Attracting and Retaining Talented Employees CSR initiatives and ethical corporate governance are attractive to employees. People want to work for organizations with a purpose beyond profit, and companies that prioritize ethical behavior are more likely to attract and retain top talent. Employees feel proud to be associated with socially responsible organizations and are motivated to contribute positively to the company's goals. This can lead to increased productivity, innovation, and overall employee satisfaction.

📈 Benefit #3: Improved Financial Performance and Investor Confidence Companies that prioritize CSR and maintain strong corporate governance frameworks often experience improved financial performance. Ethical behavior and responsible business practices inspire trust and confidence among investors, leading to increased investment and shareholder value. Investors recognize that companies with robust CSR strategies are better equipped to manage risks, adapt to changing societal expectations, and create long-term value.

🏭 Real Story: Volkswagen's corporate governance failure Volkswagen's emission scandal in 2015 serves as a cautionary tale of the negative consequences that can arise from a lack of ethical corporate governance. The company manipulated emission tests in their vehicles, resulting in severe financial and reputational damage. This incident highlighted the importance of strong corporate governance and ethical decision-making to prevent unethical practices within an organization.

✅ Benefit #4: Mitigation of Risks and Legal Compliance Organizations that integrate CSR and corporate governance effectively are better equipped to identify and mitigate potential risks. By adhering to ethical standards, companies can avoid legal and regulatory issues, fines, and reputational damage. For example, companies that prioritize environmental sustainability can proactively address environmental risks, ensuring compliance with environmental regulations and avoiding costly penalties.

In summary, the links between CSR and corporate governance provide numerous benefits to organizations. These include enhanced reputation and brand image, attracting and retaining talented employees, improved financial performance and investor confidence, and the mitigation of risks and legal compliance. By integrating CSR into their operations and upholding strong corporate governance practices, companies can create a sustainable and responsible business model that benefits both society and their bottom line.


The concept of Corporate Social Responsibility (CSR) and its link to corporate governance

  • Definition of CSR and its importance in today's business environment

  • Explanation of corporate governance and its role in ensuring ethical behavior and accountability

  • Discussion of the relationship between CSR and corporate governance and how they complement each other

Why is Corporate Social Responsibility Crucial in Today's Business Environment?

In the global business landscape, Corporate Social Responsibility (CSR) has gained significant attention in recent years. It refers to the ethical obligation of a company to conduct its activities in a manner that is beneficial to society and the environment. CSR is no longer just about philanthropy or activism. Instead, it has emerged as a strategic tool for companies to improve their public image, foster customer loyalty, attract top talent, and even boost profits.

For instance, Microsoft, one of the world's leading tech giants, has placed CSR at the heart of their business operations. They have prioritized environmental sustainability by aiming to be carbon negative by 2030 and by 2050, they plan to remove all the carbon they have emitted since their incorporation in 1975.

🔑 Key Point: Corporate Social Responsibility (CSR)

Let's take a look at an example. Consider a software company that develops a program to assist non-profit organizations in managing their operations more efficiently. This is a form of CSR, as it not only benefits the company through increased sales and enhanced reputation but also positively impacts the community by empowering non-profit organizations.

How Does Corporate Governance Ensure Ethical Conduct and Accountability?

Corporate governance plays a crucial role in shaping the ethical behavior and accountability of an organization. It refers to the system of rules, practices, and processes by which a firm is directed and controlled. It involves balancing the interests of a company's many stakeholders, such as shareholders, management, customers, suppliers, financiers, government, and the community.

A shining example of good corporate governance is the Tata Group, a global enterprise headquartered in India. Their framework promotes ethical conduct, transparency, and accountability. The Tata code of conduct acts as an ethical roadmap for its employees globally, creating an atmosphere of integrity and responsibility.

🔑 Key Point: Corporate Governance

Consider a company with a strong governance structure that promotes transparency. They regularly disclose their financial results, engage with shareholders, and have clear policies against bribery and corruption. This strong commitment to corporate governance not only helps them avoid legal troubles but also builds trust with their stakeholders, ultimately contributing to their long-term success.

The Symbiotic Relationship Between CSR and Corporate Governance

The link between CSR and corporate governance is imperative for any organization aiming for long-term success. CSR activities cannot be effectively implemented without strong corporate governance mechanisms. On the other hand, good corporate governance practices are incomplete without a robust CSR framework.

For example, Unilever, a multinational consumer goods company, combines both these aspects seamlessly. Their Sustainable Living Plan outlines their commitment to CSR, addressing areas such as improving health and well-being, reducing environmental impact, and enhancing livelihoods. Simultaneously, their corporate governance structure ensures accountability and transparency, making their CSR efforts more effective and credible.

🔑 Key Point: Relationship Between CSR and Corporate Governance

Take a look at Patagonia, an outdoor apparel company. They've intertwined CSR with their corporate governance by committing to donate 1% of their total sales to environmental groups. Their governance ensures that this commitment is met each year, thereby reinforcing their CSR objectives and enhancing their reputation as an environmentally conscious brand.

When CSR and corporate governance work hand-in-hand, it not only benefits the organization in terms of reputation and profits but also positively impacts society and the environment. This symbiotic relationship is the key to sustainable business success in today's complex and ever-evolving business environment.


Benefits of linking CSR and corporate governance for the organization

  • Enhanced reputation and brand image: How practicing CSR and having strong corporate governance can improve the organization's reputation and brand perception among stakeholders

  • Increased stakeholder trust: How transparent and ethical practices in CSR and corporate governance can build trust with stakeholders such as customers, employees, investors, and the community

  • Improved risk management: How integrating CSR and corporate governance can help identify and mitigate potential risks, including legal, environmental, and reputational risks

  • Long-term sustainability: How CSR and corporate governance practices contribute to the organization's long-term success and sustainability by considering social and environmental impacts

📈 Enhanced Reputation and Brand Image

A strong link between corporate social responsibility (CSR) and corporate governance can significantly enhance an organization's reputation and brand image.

For example, Unilever has consistently been recognized as a global leader in CSR and corporate governance with their sustainability plan, pledging to halve their environmental impact by 2030. This commitment to ethical business practices and sustainability has earned them considerable praise and recognition, strengthening their brand image and overall reputation.

Unilever's CSR initiatives include improving health and hygiene, reducing environmental impact, and enhancing livelihoods. Their commitment to these initiatives is reflected in their corporate governance structure and decision-making processes.


🤝 Increased Stakeholder Trust

Transparent and ethical practices in CSR and corporate governance are key in building trust with stakeholders such as customers, employees, and investors. Through CSR initiatives, companies can demonstrate their commitment to ethical practices and societal contributions, fostering trust amongst stakeholders.

The case of Patagonia, an outdoor clothing company, is a prime example.

Patagonia is known for its transparent supply chain and commitment to protecting the environment. This company's CSR and corporate governance practices are closely linked, with both focusing on sustainability and ethical business practices, thus garnering immense trust from consumers, employees, and partners.


🛡️ Improved Risk Management

Integrating CSR and corporate governance can help identify and mitigate potential risks, including legal, environmental, and reputational risks.

BP's Deepwater Horizon oil spill in 2010 is a stark reminder of the potential risks that can arise when CSR and corporate governance are not properly integrated.

Following the spill, BP faced massive legal liabilities and reputational damage. Had there been stronger links between their CSR initiatives and corporate governance, they might have been able to mitigate some of these risks by adhering to stricter environmental standards and making better decisions.


🌱 Long-term Sustainability

CSR and corporate governance practices contribute to the organization's long-term success and sustainability by considering social and environmental impacts.

Consider Interface Inc., a carpet manufacturer, which dramatically restructured its operations in the late 1990s to become more sustainable.

Interface Inc. developed a vision to eliminate any negative impact the company might have on the environment by 2020, fully integrating this into all levels of corporate governance. This helped to ensure the company's long-term sustainability, both environmentally and commercially.


In conclusion, integrating CSR and corporate governance can bring significant benefits, including enhanced reputation, increased trust, improved risk management, and long-term sustainability. It is evident that the benefits of linking CSR and corporate governance in an organization are far-reaching and integral to successful, sustainable business operations.


Examples of how CSR and corporate governance provide benefits to the organization

  • Case studies of companies that have successfully integrated CSR and corporate governance, resulting in positive outcomes such as increased customer loyalty, higher employee satisfaction, and improved financial performance

  • Examples of organizations that have faced negative consequences due to the lack of CSR and weak corporate governance, such as reputational damage, legal issues, and financial losses

  • Illustration of how CSR initiatives, such as philanthropy, environmental sustainability, and ethical supply chain management, can align with corporate governance principles to create value for the organization

✨Corporate Social Responsibility and Corporate Governance: A Harmonious Confluence✨

Did you know that integrating Corporate Social Responsibility (CSR) and Corporate Governance can significantly boost an organization's overall performance? Let's explore how this integration can provide remarkable benefits to an organization.

🎯Successful Integration of CSR and Corporate Governance: Positive Outcomes

A classic example of an organization that has successfully integrated CSR and corporate governance is Unilever. Unilever’s Sustainable Living Plan, which aims to halve their environmental footprint, provide better working conditions, and enhance the livelihood of millions, is a prime example of their deep-rooted CSR. Simultaneously, Unilever's strong corporate governance structure, which emphasizes transparency, ensures that the Sustainable Living Plan's goals are met. This integration has resulted in increased customer loyalty due to their sustainable practices and increased employee satisfaction due to improved working conditions.

Another compelling example is the global tech giant, Microsoft. They have a robust CSR policy that focuses on environmental sustainability, philanthropy, and ethical supply chain management. Microsoft's corporate governance principles align perfectly with these CSR initiatives, focusing on transparency, accountability, and long-term shareholder value. This successful integration has significantly enhanced Microsoft's reputation and financial performance.

For instance, in 2020, Microsoft committed to be carbon negative by 2030 and remove all the carbon the company has emitted since its founding by 2050. This impressive goal aligns with their CSR and corporate governance, demonstrating their commitment to sustainability and accountability, which is valued by both investors and customers.


⚠️Weak CSR and Corporate Governance: The Consequences

On the opposite end of the spectrum, weak CSR and corporate governance can lead to catastrophic consequences. Volkswagen is a grim reminder of this fact. In 2015, Volkswagen was found guilty of manipulating their diesel engine's emission tests, leading to what is now known as the 'Volkswagen Emissions Scandal'. The lack of CSR, emphasizing environmental responsibility, and weak corporate governance that failed to ensure ethical business practices resulted in severe reputational damage, legal issues, and financial losses for Volkswagen.

🌿CSR Initiatives and Corporate Governance Principles: Creating Value

Organizations can create value by aligning CSR initiatives with corporate governance principles. Patagonia, an outdoor clothing company, is an excellent example of this alignment. Patagonia's CSR initiatives are deeply ingrained in their business model, focusing on environmental sustainability and ethical supply chain management. In addition, their corporate governance structure ensures these initiatives are effectively implemented, resulting in a positive impact on their financial performance and reputation.

For example, Patagonia's "Worn Wear" program, where customers can return their used Patagonia gear for repair or recycling, aligns perfectly with their CSR and corporate governance. The initiative not only promotes environmental sustainability but also ensures transparency and accountability, enhancing their reputation and customer loyalty.


In essence, the harmonious confluence of CSR and corporate governance can significantly enhance an organization's performance and reputation. However, the key lies in effective implementation, ensuring transparency, and maintaining alignment with the organization's core values.


Strategies for effectively linking CSR and corporate governance

  • Implementing robust governance structures and processes that prioritize ethical decision-making and accountability

  • Establishing clear CSR goals and metrics that align with the organization's overall strategy and values

  • Engaging stakeholders in the development and implementation of CSR initiatives and corporate governance practices

  • Regularly monitoring and reporting on CSR and corporate governance performance to ensure transparency and accountability

  • Continuously evaluating and improving CSR and corporate governance practices based on feedback and emerging trends in the business and social landscape

Implementing Robust Governance Structures and Processes 🏢

The first step to linking CSR and corporate governance starts from the top. Businesses need robust governance structures that not only prioritize profitability but also ethical decision-making and accountability.

For example, Starbucks in its commitment to ethical sourcing, embraced a comprehensive approach to ethical sourcing using responsible purchasing practices, farmer support, and collaborating with a network of external organizations.

Example: Starbucks' C.A.F.E. (Coffee and Farmer Equity) Practices, developed in collaboration with Conservation International, is a set of social, environmental, and economic guidelines that Starbucks follows to ethically source its coffee.


Establishing Clear CSR Goals and Metrics 📈

Setting clear CSR goals and aligning them with the organization's overall strategy and values is the next important step. A company like Unilever, for example, has its 'Sustainable Living Plan' which sets out to decouple their growth from their environmental footprint, while increasing their positive social impact. Their plan is not just a CSR strategy but has become their business model.

Example: Unilever's Sustainable Living Plan sets targets for halving the environmental impact of their products by 2030, improving health and well-being for more than 1 billion people by 2020, and enhancing the livelihoods of millions of people as they grow their business. 


Engaging Stakeholders in CSR Initiatives 🤝

Involving stakeholders in the development and implementation of CSR initiatives and corporate governance practices makes CSR a shared responsibility. Stakeholders can be employees, customers, investors, or even the local community where the business operates.

For instance, Google's parent company, Alphabet, encourages employee participation in their Green Energy Purchases program, aiming to achieve 100% renewable energy for their global operations.

Example: Alphabet's Green Energy Purchases program allows employees to suggest and evaluate potential renewable energy projects, making them a part of Alphabet's commitment to operate on clean energy.


Monitoring and Reporting CSR Performance 📊

Tracking and publicly reporting CSR and corporate governance performance not only ensures transparency and accountability but also allows businesses to showcase their progress and commitment to stakeholders. Companies like Intel, for example, have been publishing an annual CSR report for over a decade, highlighting their contributions and improvements in environmental, social, and governance (ESG) areas.

Example: Intel's CSR report provides detailed information on their ESG performance, including updates on their goals for reducing greenhouse gas emissions, water use, waste generation, and more.


Continuously Evaluating and Improving Practices 🔍

Lastly, businesses must continually evaluate and improve their CSR and corporate governance practices in response to new challenges and opportunities. This could mean embracing new sustainability technologies, investing in community development, or enhancing diversity and inclusion initiatives.

IKEA, for example, is continuously innovating its practices- from sourcing renewable materials to creating a better life for the workers in their supply chain.

Example: IKEA's 'IWAY' is a code of conduct for suppliers, outlining minimum standards for environmental, social and working conditions, and more. This is regularly reviewed and updated to ensure its continued relevance and effectiveness.


In sum, effective integration of CSR and corporate governance can yield significant benefits for organizations, from enhancing brand reputation and trust to driving sustainable long-term growth. It is a journey that requires ongoing commitment, agility, and a shared vision of creating a positive impact.

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1- Introduction 2- Organisational structures: Understand different types and their financial reporting requirements. 3- PESTEL analysis: Explain and apply to analyse external factors affecting organisations. 4- Introduction 5- Macroeconomic factors: Understand the key factors and their impact on organizations. 6- Microeconomic factors: Understand the key factors and their impact on organizations. 7- International business environment: Understand the significance of macro and microeconomics in an international context and their impact on organization. 8- Introduction 9- Mathematical Accounting Methods. 10- Use mathematical techniques in accounting. 11- Create and use graphs, charts, and diagrams of financial information 12- Apply statistical methods to provide financial and accounting information. 13- Introduction 14- Financial Accounting: 15- Inventory valuation methods and calculations 16- Year-end adjustments and accurate accounting 17- Preparation of final accounts for sole traders and partnerships 18- Assessment of financial statement quality 19- Introduction 20- Budgeting: Understanding the role of budgeting, preparing budgets accurately, and analyzing budgets for organizational performance. 21- Standard Costing: Understanding the purpose of standard costing, calculating and interpreting variances accurately, and evaluating the advantages. 22- Capital Expenditure and Appraisal Techniques: Understanding key capital expenditure appraisal techniques, calculating payback, ARR, NPV, and IRR accuracy. 23- Costing Techniques: Differentiating between marginal and absorption costing, understanding job, batch, and process costing methods, using service cost. 24- Introduction 25- Leadership and Management in Accounting: Understand theories, motivation, and teamworking. 26- Introduction 27- Understand theories of finance 28- Discuss a range of financial theories and their impact on business decisions. 29- Analyse the nature, elements and role of working capital in a business. 30- Describe how a business assesses its working capital needs and funding strategies. 31- Analyse the ways in which a business manages its working capital needs Be able to analyse techniques used to manage global risk. 32- Analyse the scope and scale of financial risks in the global market. 33- Analyse the features and suitability of risk mitigation techniques. 34- Evaluate the suitability and effectiveness of techniques used by a business to manage its global risk. 35- Introduction 36- Understand corporate governance as it relates to organisations financial planning and control. 37- Analyse the role of corporate governance in relation to an organisation’s financial planning and control. 38- Analyse the implications to organisations of compliance and non-compliance with the legal framework. 39- Understand the economic and financial management environment. 40- Analyse the influence of the economic environment on business. 41- Discuss the role of financial and money markets. 42- Analyse the benefits, drawbacks and associated risks of different sources of business finance. 43- Be able to assess potential investment decisions and global strategies. 44- Analyse the benefits, drawbacks and risks of a range of potential investment decisions and strategies for a business. 45- Assess the ways in which the global financial environment affects decision-making and strategies of a business. 46- Inroduction 47- Be able to manage an organisation's assets: Analyse assets, calculate depreciation, maintain asset register. 48- Be able to manage control accounts: Analyse uses of control accounts, maintain currency, prepare reconciliation statements. 49- Be able to produce a range of financial statements: Use trial balance, prepare financial statements from incomplete records. 50- Introduction 51- Understand the principles of taxation. 52- Distinguish direct from indirect taxation. 53- Evaluate the principles of taxation. 54- Evaluate the implications of taxation for organisational stakeholders. Understand personal taxation. 55- Analyse the requirements of income tax and national insurance. 56- Analyse the scope and requirements of inheritance tax planning and payments. 57- Analyse the way in which an individual determines their liability for capital gains tax. 58- Analyse an individual’s obligation relating to their liability for personal tax. 59- Explain the implications of a failure to meet an individual’s taxation obligations. Understand business taxation. 60- Explain how to identify assessable profits and gains for both incorporated and unincorporated businesses. 61- Analyse the corporation tax system. 62- Analyse different value-added tax schemes. 63- Evaluate the implications of a failure to meet business taxation obligations. 64- Introduction 65- Understand recruitment and selection: Evaluate the role and contribution of recruiting and retaining skilled workforce, analyze organizational recruitment. 66- Understand people management in organizations: Analyze the role and value of people management, evaluate the role and responsibilities of HR function. 67- Understand the role of organizational reward and recognition processes: Discuss the relationship between motivation and reward, evaluate different. 68- Understand staff training and development: Evaluate different methods of training and development, assess the need for Continuous Professional Development. 69- Introduction 70- Understand the relationship between business ethics and CSR and financial decision-making. 71- Analyse the principles of CSR. 72- Evaluate the role of business ethics and CSR with financial decision-making. Understand the nature and role of corporate governance and ethical behavior. 73- Explain the importance of ethical corporate governance. 74- Explain, using examples, the ethical issues associated with corporate activities. 75- Analyse the effectiveness of strategies to address corporate governance and ethical issues. Be able to analyse complex CSR and corporate governance. 76- Explain how links between CSR and corporate governance provide benefit to the organisation. 77- Make recommendations for improvement to CSR and corporate governance issues. 78- Introduction 79- Apply advanced accounting concepts and principles: Learn about complex topics such as consolidation, fair value accounting, and accounting for derivatives. 80- Critically evaluate accounting standards and regulations: Understand the different accounting standards and regulations, such as IFRS and GAAP. 81- Financial statement preparation and analysis: Learn how to prepare and analyze financial statements, including balance sheets, income statements. 82- Interpretation of financial data: Develop the skills to interpret financial data and ratios to assess the financial health and performance of a company. 83- Disclosure requirements: Understand the disclosure requirements for financial statements and how to effectively communicate financial information. 84- Accounting for business combinations: Learn the accounting treatment for mergers and acquisitions, including purchase accounting and goodwill impairment. 85- Accounting for income taxes: Understand the complexities of accounting for income taxes, including deferred tax assets and liabilities and tax provision. 86- Accounting for pensions and other post-employment benefits: Learn the accounting rules for pensions and other post-employment benefits, including. 87- Accounting for financial instruments: Understand the accounting treatment for various financial instruments, such as derivatives, investments . 88- International financial reporting standards: Familiarize yourself with the principles and guidelines of international financial reporting standards . 89- Introduction 90- Auditing principles and practices: Learn the fundamental principles and practices of auditing, including the importance of independence, objectivity. 91- Introduction 92- Financial data analysis and modeling: Learn how to analyze financial data and use financial modeling techniques to evaluate investments. 93- Capital budgeting decisions: Understand how to evaluate and make decisions regarding capital budgeting, which involves determining which long-term. 94- Cost of capital: Learn how to calculate and evaluate the cost of capital, which is the required return on investment for a company. 95- Dividend policy: Understand the different dividend policies that companies can adopt and evaluate their impact on corporate finance and restructuring. 96- Introduction 97- Tax planning strategies: Learn various strategies to minimize tax liabilities for individuals and organizations. 98- Business transactions: Understand the tax implications of different business transactions and how they can impact tax planning. 99- Ethical considerations: Analyze the ethical considerations involved in tax planning and ensure compliance with tax laws and regulations. 100- Tax optimization: Learn techniques to optimize tax liabilities and maximize tax benefits for individuals and organizations. 101- Tax laws and regulations: Gain a comprehensive understanding of tax laws and regulations to effectively plan and manage taxes. 102- Tax credits and deductions: Learn about available tax credits and deductions to minimize tax liabilities and maximize savings. 103- Tax planning for individuals: Understand the specific tax planning strategies and considerations for individuals. 104- Tax planning for organizations: Learn about tax planning strategies and considerations for different types of organizations, such as corporations. 105- Tax planning for investments: Understand the tax implications of different investment options and strategies, and how to incorporate tax planning. 106- Tax planning for retirement: Learn about tax-efficient retirement planning strategies, including retirement account contributions and withdrawals. 107- Introduction 108- Risk management concepts: Understand the principles and techniques used to identify, assess, and mitigate financial risks. 109- Financial derivatives: Learn about various types of derivatives such as options, futures, and swaps, and how they are used for risk management. 110- Hedging strategies: Analyze different strategies used to minimize potential losses by offsetting risks in financial markets. 111- Speculation strategies: Explore techniques used to take advantage of potential gains by taking on higher risks in financial markets. 112- Regulatory frameworks: Understand the laws and regulations governing the use of financial derivatives and risk management practices. 113- Ethical considerations: Consider the ethical implications of risk management and financial derivatives, including transparency and fairness in finance 114- Introduction 115- Evaluate financial implications of strategic decisions: Understand how strategic decisions can impact the financial health of an organization. 116- Develop financial strategies for organizational objectives: Learn how to create financial plans and strategies that align with the overall goals. 117- Apply financial forecasting techniques: Gain knowledge and skills in using various financial forecasting methods to predict future financial performance. 118- Utilize budgeting techniques in support of strategic planning: Learn how to develop and manage budgets that support the strategic goals of the organization. 119- Consider ethical considerations in financial decision-making: Understand the ethical implications of financial decisions and be able to incorporate . 120- Understand corporate governance in financial decision-making: Learn about the principles and practices of corporate governance and how they influence.
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