Future Students - Courses

Commercial Accountability Challenges in a Global Environment

Unit Code: LMC502

Duration	Contact Hours	Campus	Prerequisite	Corequisite
13 week study period	All students are required to devote approximately 10-12 hours per week to the unit in order to be successful.	Online	Nil, however it is expected that students will have managerial experience in the business world. Students may find it helpful to have completed LMC501 before commencing this unit, however this is not mandatory

Credit Points: 12.5 Credit Points

Related Course/s:

A unit in the Master of Commerce , Graduate Certificate of Commerce and Graduate Diploma of Commerce.

Aims & Objectives:

This unit aims to explore the nature and importance of the links between commercial accountability, ethical and sustainable business practices, and holistic risk management across business sectors in a global environment, including the impact on business of managing in the carbon economy. This will be addressed in terms of compliance, transparency and responsiveness to stakeholders.

Learning Objectives
On completing this unit students will be able to:

1. Explain key elements of the importance of commercial accountability for human, natural and financial capital under the stewardship of management.

2. Distinguish between: - giving account (how and what is reported on the firm’s performance) - taking account (planning and controlling through standard setting and benchmarking) and - being held to account (within various accountability frameworks to meet stakeholder requirements)

3. Critically evaluate the changing role and accountability of the Board in relation to corporate governance, risk management and ethical and sustainable practices within organisations, including corporate responsibilities in relation to the carbon economy

4. Outline the issues for executive decision-making in the risk management and stewardship of financial, human and environmental resources

5. Explain the implications for resource and risk management stemming from the firm’s stated ethics and values and sustainability strategies

6. Critique and apply accountability frameworks to corporate governance challenges in a complex global business environment.

Teaching Methods:

Face-to-face, online and blended.

Online delivery is supported by a unit website, learning materials and online activities. Voluntary face-to-face workshops may also be offered.

Assessment:

Group-based Discussion: 10-30%

Individual Report: 30-50%

Case-based Project: 30-50%

Generic Skills Outcomes:

1. Strategic competence to align organisational decision making with environmental challenges.

2. Holistic and systemic thinking across business and commerce to support decision making and risk management in complexity

3. Analytical and problem solving skills that include rational-analytical, sense making and anticipatory competencies relevant to a shifting and turbulent business environment.

4. Communication, teamwork and advocacy skills to support the building of social capital in diverse project environments.

5. Capacity to apply normative ethical standards in the context of the business/society interface.

Content:

1. Commercial accountability – business ethics and governance expectations

· An introduction to accountability, business ethics and governance
· Compliance, transparency and responsiveness to stakeholders
· Commercial accountability, CSR and broader sustainability reporting initiatives

2. Theoretical perspectives and contributions to commercial accountability

· Theoretical perspectives - and ethical behaviour
· Frameworks for ethical decision making

3. Commercial accountability and governance

· Understanding corporate governance in the twenty-first century – from shareholders to stakeholders
· Corporate governance and accountability – identification and role of key elements
· The economic crisis - governance and accountability issues
· The impact of managing in the carbon economy

4. Accountability and ethics – risks and opportunities

· Accountability and business ethics - risk identification and assessment
· Management of financial and non financial risks and opportunities

Reading Materials:

Additional reading materials are listed within the Learning Materials.

Textbooks:

Brooks, L, and Dunn P. (2008) Business & Professional Ethics for Directors, Executives & Accountants, 5th edition, South-western Cengage Learning