The role of integrated thinking in corporate governance during the Covid-19 crisis

Perspectives from South Africa

Datos Bibliográficos

ID20201367
AutoresLindani Myeza (0000-0002-3235-9697, University of the Witwatersrand), Dusan Ecim (0000-0001-7549-3258, University of the Witwatersrand, autor de correspondencia), Warren Maroun (0000-0001-7448-1220, University of the Witwatersrand)
Año2023
Volumen35
Número6
Páginas52-77
Fecha de publicación2023-12-18
Peer ReviewedSí
Open AccessSí
TipoARTICLE
RevistaJournal of Public Budgeting Accounting & Financial Management (JOURNAL)
Identificadores de la revistaISSN: 1096-3367 • E-ISSN: 1945-1814
EditorialEmerald (PUBLISHER)
DOI10.1108/jpbafm-08-2022-0133
OpenAlexW4320734009
IdiomaEN
Referencias citadas47

Purpose This study aims to examine how integrated thinking principles can be used to assist those charged with governance during and after a crisis. Design/methodology/approach An autoethnographic approach was used to collect and reflect on information related to the economic, social and environmental impact of COVID-19. This was complemented with a bibliometric analysis of academic articles including “corporate governance”, “integrated thinking” and “crisis” as a keyword. This information was used to produce a data mind map of core themes. This was supplemented with a qualitative exploratory approach based on semi-structured interviews with 16 participants comprising preparers of financial statements, board members and corporate governance specialists to obtain insights into using integrated thinking in corporate governance during a crisis. Findings The results of the study indicate that those charged with governance can use integrated thinking to repurpose their business model by considering a multi-capital and multi-stakeholder perspective to value creation. The study highlights the importance of implementing a holistic capital integration process to gauge risks, capitalise on opportunities and improve business processes in response to a crisis. This can be leveraged by both the private and public sectors to manage a crisis and deal with the long-term indirect impacts of a crisis. Social implications An integrated thinking approach can be used by both the private and public sectors to bolster confidence, tackle pressing social and environmental challenges and contribute to improved performance relative to the sector. Originality/value The expert interviews contribute empirical evidence to the profile of mainstream social and environmental accounting literature and offer a practical contribution by offering insights that can directly be used by organisations’ investors, non-governmental organisations and other stakeholders to manage a crisis. This paper also advances the sustainability agenda by assessing how a crisis can be managed in the context of a developing economy and advancing normative recommendations which will be broadly applicable to an international audience

Business · Corporate governance · Economic growth · Economics · Economy · Exploratory research · Knowledge management · Mainstream · Originality · Political science · Private sector · Public relations · Public sector · Qualitative research · Social science · Sociology · Stakeholder · Corporate Social Responsibility Reporting · COVID-19 Pandemic Impacts · Islamic Finance and Banking Studies · Finance