Online from: 1989
Subject Area: Economics
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|Title:||Social business, accountability, and performance reporting|
|Author(s):||Mawdudur Rahman, (Sawyer Business School, Suffolk University, Boston, Massachusetts, USA), Mostaq Hussain, (Faculty of Business, University of New Brunswick – Saint John, Saint John, Canada)|
|Citation:||Mawdudur Rahman, Mostaq Hussain, (2012) "Social business, accountability, and performance reporting", Humanomics, Vol. 28 Iss: 2, pp.118 - 132|
|Keywords:||Accountability, Balanced score card, Business values, Exchange theory, Performance management, Performance reporting, Post-modernism, Social audits, Social business, Social economics, Social enterprise|
|Article type:||Conceptual paper|
|DOI:||10.1108/08288661211228889 (Permanent URL)|
|Publisher:||Emerald Group Publishing Limited|
Purpose – The purpose of this paper is to contribute to the theory and applications in social business and accountability.
Design/methodology/approach – The paper develops the theoretical arguments, shows the importance of non-accounting measures, explores available non-accounting measures and suggests BSC as an externally validated reporting tool.
Findings – There is a need to expand the accounting base to non-financial measures; social business and social enterprises do not have externally validated performance reports and there is no benchmark data to compare performance.
Research limitations/implications – This is a conceptual and theoretical study. It needs empirical validation.
Practical implications – Using the suggested measurement and reporting will make public accountability transparent and expand the accountant's social role. It will motivate teaching of social business in accounting.
Social implications – The study supports social business as a legitimate entity; corporations engaged in social business will be more publicly responsible; the study will encourage investment in social business; small entrepreneurs from the bottom of the society will have an opportunity to participate in the economy; and the poor will participate in the economy, will expand the economy and contribute to social and economic development.
Originality/value – The paper includes guidelines for implementing the proposed BSC, performance measurements and reporting techniques.
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