International standards of business conduct: framework and illustration

Purpose: – The purpose of this paper is to describe the insights and a proposal into the structure of standards of business conduct and its intended applications.

Design/methodology/approach: – The case study is based upon an inductive content analysis of corporate ethics artefacts.

Findings: – It is concluded that the standards of business conduct may be highly prescriptive in world wide corporations, but that there should be an explicit commitment to a flexible and dynamic approach to the application of standards of business conduct.

Research limitations/implications: – An examination of the actual behaviour of a corporation's operations was beyond the scope of the present research, but such a study has potential for future research. This would open up the wider question of how corporations can minimise the gap between corporate intentions and actual outcomes in business operations across national and cultural boundaries.

Practical implications: – These diverse national and cultural contexts that world wide corporations encounter must be taken into consideration in the content of their standards of business conduct.

Originality/value: – The authors emphasise the concern of recognising that the contexts surrounding standards of business conduct are dynamic. Corporate codes of ethics should be regarded as dynamic artefacts. A framework of application is proposed.

A Look at Corporate Code of Conduct Legislation

Over recent years, there has been a growing perception among civil society in the developed world that multinational corporations are engaged in socially and environmentally exploitative practices that they would never get away with, or even attempt, in their home countries. Whether right or wrong, that perception and its political and economic ramifications have driven a global movement for more responsible corporate behavior. As part of that global movement, three common law jurisdictions—the United States, Australia and the United Kingdom—have seen legislation introduced to enforce standards of practice for multinational corporations based in those countries in respect of their overseas activities. None of those Bills has yet passed into law, but they are worthy of analysis as attempts to transform hitherto amorphous concepts like 'corporate social responsibility' into concrete legislation. This article compares and critically analyses the three Bills, making recommendations as to how they could be improved, with particular emphasis on the need to forge stronger links between the legislative provisions and international human rights law.

The advantages of a proactive business response to human rights reporting

In a globalizing world, with shifting production, labor and consumer markets and increased competitiveness, human rights are gaining new practical relevance. The UN Global Compact presented by UN Secretary-General Kofi Annan to the World Economic Forum at Davos in 1999, sought to create a voluntary international corporate citizenship network to bring together private-sector and other social actors. Its central aim is to advance responsible corporate citizenship and universal social and environmental principles to meet the challenges of globalization. The business (and ethical) case for corporate engagement in human rights reporting is strengthening, although much still needs to be done. The Danish Human Rights and Business Project launched its 2006 educational project on company codes of conduct aimed at developing models for business in the pharmaceutical, steel, agricultural, logging, lumber, paper and cardboard, and apparel and textile industries, assessing company codes against international human rights standards.

`Silly, soft and otherwise suspect`: doctoral education as risky business

This article investigates how certain doctoral practices come to count as scandalous and with what effects on universities. To do so, it engages with a number of recent media allegations that relate to doctoral practice in Australia and elsewhere. The analysis of these allegations is developed in terms of three broad categories, namely allegations of silliness in relation to thesis content, allegations of softness in relation to entry, rigour and assessment, and allegations of suspect conduct and/or credentials. The impact of such allegations on university governance is then addressed.

The impact of small business on the environment

Objectives: Small businesses are estimated to contribute a significant proportion of global pollution, yet there is little empirical evidence to support this claim. The main aim of this research was to conduct an exploratory analysis of small business’s environmental impact in terms of waste, water and energy.

Prior work: Due to the negative impact small businesses are reported to have on the environment, their disengagement in environmental management practices has caused international concern. Much of the literature has concentrated on identifying the barriers and drivers of small business engagement. Little empirical work being conducted on the actual impact of they have on the environment or on the influence of the local context on their environmental practices.

Approach: A survey was developed and distributed to 466 small businesses within two light industrial areas in Perth Western Australia, which achieved a response rate of 87%. This survey will be replicated after a 12 month intervention is conducted. The two light industrial areas were selected as their Local Government Authorities are looking for businesses within their boundaries to improve their environmental performance.

Results: Initial results suggest that the small businesses do have a considerable impact on the environment in terms of waste disposal. Moreover, their environmental management practices concerning waste, energy and water were found to differ depending on the local contexts in which the small businesses operate.

Implications: As small businesses are both economically and socially important to all major industrialised nations, empirical research that provides evidence of their impact on the environment is critical. The implication here is that if the context in which these businesses operate influences the practices employed, developing strategies that acknowledge the influence and consequences of context may be more effective than those currently available. Differences identified within practices suggest that greater awareness and education is needed on water management than energy or waste, as this is the area where small business owner-managers have shown they have less knowledge and/or active engagement.

Value: This research is valuable in three ways. First, it adds to the knowledge of small business impact on the environment. Second, it identifies that context may be a factor that needs to be considered when developing strategies to engage small businesses in environmental management. Finally, it shows that the environmental management of water is the least well established environmental priority of small businesses at this time.

Doing business in China : how Australian companies make their decisions when entering the Chinese market

This report describes and analyses the experiences of Australian businesses which have established operations or conduct business in China, both successfully and unsuccessfully. The information was collected over the period from August to November in 2007. It involved interviews with 43 respondents from 40 different Australian businesses across both manufacturing and service industries. The project was motivated by the increasing significance of China to Australia’s economy (such as the demand for Australian iron and coal exports and the transfer of much of Australia’s manufacturing operations there) and its extraordinary growth and development over the past 10 years. Using the contemporary modes of international expansion as a framework, the research considered companies which had entered China through Wholly Owned Foreign Enterprises (WOFEs), Joint Ventures, exporting and other forms such as licensing and agents. Most of the participants had located their operations in China in the eastern region, including Shanghai, Beijing, Guanzhou, Shenzhen and Tianjin.

Market fit, market orientation, and business performance : an empirical investigation

This thesis investigated the congruence of an organisation to its intended target markets. It was hypothesised that the internal activities of an organisation are, potentially, structured in response to its market dynamics with the ultimate aim of achieving the organisational objective(s). Market fit has been conceptualised to represent the fit of an organisation to its operating market environment. The information for this study was collected from senior marketing decision makers, using a self-administered questionnaire. The sample comprised 216 companies from a mix of industries and organisational sizes in Australia. There is evidence to suggest that the association of market orientation and business performance is inconsistent under different business operating circumstances, due to the exclusion of the influence of key environmental moderators. The model of market fit attempts to overcome this condition. The results suggest that market fit is associated with measures of business performance, and the levels of association are different from those related to the market orientation measures, reflecting the influence of moderators. The categories of environmental moderators contributing at different levels to the market fit measure include: (1) marketing planning, (2) implementation of marketing decisions, (3) market orientation, (4) market strength, (5) generic strategies, (6) organisational culture, (7) familiarity with the marketing audit, and (8) the external environment. The marketing audit procedure has been recommended as a tool to assist with the establishment and maintenance of market fit. The results of this study indicate that organisational familiarity with, and the conduct of, the marketing audit periodically are low, and that market fit may be a better predictor of business performance, than is market orientation.

Toward the standardization of venture capital investment evaluation : decision criteria for rating investee business plans

This study examined the criteria used by venture capitalists to evaluate business plans in order to make investment decisions. A literature survey revealed two competing theories: “espoused criteria” where evaluation decisions are based on what venture capitalists say are the decisive factors; versus the use of “known attributes” that successful ventures actually possess. Brunswik’s Lens Model from Social Judgment Theory guided an empirical investigation of several different evaluation methods based on information contained in 129 business plans submitted for venture capital over a 3 year period. Data evaluation culminated in the comparison of the percentage of correct decisions (“hit-rate”) for each method. We found that decisions based on the known attributes of successful ventures have significantly better hit-rates than decisions made using espoused criteria. Discussion centred on the goal of achieving consistency in the conduct of venture analysis. Process standardization can aid in the achievement of consistency. Future research will both deepen and broaden insights.

Critical success factors for business intelligence systems

The implementation of a business intelligence (BI) system is a complex undertaking requiring considerable resources. Yet there is a limited authoritative set of critical success factors (CSFs) for management reference because the BI market has been driven mainly by the IT industry and vendors. This research seeks to bridge the gap that exists between academia and practitioners by investigating the CSFs influencing BI systems success. The study followed a two-stage qualitative approach. Firstly, the authors utilised the Delphi method to conduct three rounds of studies. The study develops a CSFs framework crucial for BI systems implementation. Next, the framework and the associated CSFs are delineated through a series of case studies. The empirical findings substantiate the construct and applicability of the framework. More significantly, the research further reveals that those organisations which address the CSFs from a business orientation approach will be more likely to achieve better results.

Unconscionable conduct : an evolving moral judgement

Statutory unconscionable conduct has been a controversial component of Australia's consumer laws since well before the first provision was introduced in 1986. Nevertheless, it has survived numerous reviews and has expanded beyond its early focus on consumers to provide small business - and, more recently, any business other than a listed company - statutory protection against unconscionable conduct occurring in trade or commerce.

The legal profession and the business of law

‘Professional Responsibility and Ethics’ is one of the ‘Priestley 11’ law subjects compulsorily undertaken by Australian law students who aspire to be admitted to practice. Many of the brightest join the major corporate law firms. Nevertheless, there is little theoretical analysis of how those firms are functioning to affect the professional and ethical conduct of their practitioners in the neoliberal state. In this article it is argued that in the mature and highly competitive marketplace for legal services, rather than working as autonomous professionals, corporate lawyers are now finding themselves working more and more as functionaries subservient to the dictates of their corporate clients. Drawing on interviews with Australian major law firm corporate lawyers and Charles Derber’s theory on the proletarianisation of professional workers, it is argued that corporate lawyers are losing key elements of their professional identity in the impetus to maintain the client list and the profit motive. Furthermore, as the balance of power in the corporate legal sector is shifting from law firms to clients, the professional ethics of law firm lawyers are at risk of being compromised as they find themselves being reduced to little more than ‘flush’ factory fodder for the major corporations.

Managing the implementation of business intelligence systems : a critical success factors framework

The implementation of a BI system is a complex undertaking requiring considerable resources. Yet there is a limited authoritative set of CSFs for management reference. This article represents a first step of filling in the research gap. The authors utilized the Delphi method to conduct three rounds of studies with 15 BI system experts in the domain of engineering asset management organizations. The study develops a CSFs framework that consists of seven factors and associated contextual elements crucial for BI systems implementation. The CSFs are committed management support and sponsorship, business user-oriented change management, clear business vision and well-established case, business-driven methodology and project management, business-centric championship and balanced project team composition, strategic and extensible technical framework, and sustainable data quality and governance framework. This CSFs framework allows BI stakeholders to holistically understand the critical factors that influence implementation success of BI systems.