In present day business practice where employees are geographically distributed and social media is a part of our everyday lives.
Businesses today are being held accountable to ensuring fair and ethical practices both in their business and in the supply chain. This is increasingly becoming more important in the age of globalization as there is an expectancy of having transparent and accountable procurement strategies which take into account environment, social and governance indicators. This practice is being investor led, showing that investors are keen to know the impact of their investments.
Ethical practices in responsible business relate to all aspects of business conduct and are relevant to the professional behavior of individuals and entire organizations. This includes key moral principles that include honesty, fairness, equality, dignity, diversity and individual rights. Ethical practices are important in terms of both internal and external relations in a company. This includes taking into account of their customers, suppliers, workers, the governmental institutions and the general public. In this sense, these different groups of stakeholders will have their say and exercise their influence.
Ethical practices are a strategic goal at CERB. Through its engagement cycle, CERB will promote research and advocacy by encouraging the business sector to:
- Maintain the highest possible standard of integrity in all their business relationships both inside and outside the organization
- Reject any business practice which may reasonably considered to be improper
- Optimize the use of resources which they influence and for which they are responsible to provide the maximum benefit to their organization