ABSTRACT
Corporate social responsibility is a journey, and codes and standards can serve as a map to guide companies towards greater transparency and accountability. Statements of values and principles serve as a magnetic north for companies, orienting companies in times of crisis as well as through times of opportunity.1 Such tools are not an end in themselves, but a beginning. Creation of a code of conduct without implementation is a dangerous pursuit, raising expectations among company stakeholders, such as consumers, investors, employees and local communities. A statement of values or principles or the creation of a code or standard represents the proverbial line in the sand for a company, a call to action.
