Notes on AccountabilityNotes on Accountability - The Watchword of the 21st Century! "Accountability" -- the word is becoming ever more important to leaders and boards in the private, social and public sectors. We see the term "held accountable" becoming more prevalent in news reports and media commentary. Expectations of greater "accountability" are among the key factors in shaping public opinion and public perception of organizations. And that includes perceptions related to market valuations. In Corporate America, after the recent wave of scandals and financial collapse beginning with Enron, WorldCom et al, senior managers and members of boards of directors are being held more accountable by a widening range of powerful forces: a growing army of shareholder activists, state attorneys general, federal regulators, judges and juries in class actions, major equity owners, credit risk rating agencies, employees, unions, professional and trade associations (with codes of conduct), and journalists and authors. Life is not easy for "C" suite occupants in the new "Era of Corporate Accountability." Throughout the social sector -- management guru Peter Drucker's "third sphere," made up of not-for-profits, foundations, endowments, charities, academia, and faith-based bodies. We have seen headlines of investigations of fund-raising activities or use of funds raised (think of the Red Cross problems after September 11th 2005); of abuse of office by clergy and the payment of more billions of dollars to the abused by a major American church; and of bad behavior by those in charge of do-good organizations such as the Boy Scouts of America or public school educators. "Accountability" -- look for the word in your print and broadcast news stories, online, and in everyday conversations. More and more, it is what Americans of all walks of life expect from those in charge of our private, corporate and social sector organizations. One of the Institute’s Web publishing platforms is devoted to raising greater public awareness of Accountability, and equipping leaders and boards with information to address rising stockholder and stakeholder expectations regarding Accountability. Our editors and research team members monitor, analyze and publish on Accountability and specific (and familiar) activities that reflect public expectations of greater expressions of accountability: corporate, institutional and public governance; corporate social responsibility / corporate citizenship; socially responsible investment; ethics; institutional social responsibility; shareholder advocacy and activism; transparency & disclosure…all aspects of ESG Factors…and more.
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