Capterra Glossary
Accountability
Accountability is the acceptance of responsibility for oneʻs conduct in the workplace. The concept of accountability can be applied to corporations as a whole, individual company employees, shareholders, and the overarching industry in which a business operates within. Corporate accountability often requires businesses to accurately report the performance of their company, including its adherence to or deviation from set budgets and goals. Corporate accountability also encourages business professionals to transparently communicate this company information with the appropriate stakeholders and employees.
What Small and Midsize Businesses Need to Know About Accountability
Regardless of what industry a small or midsize business operates within, there are a myriad of ways to practice accountability. Accountability in the workplace often involves setting realistic deadlines, defining task ownership, reporting unethical business practices, and rewarding employees who go the extra mile. Companies and business professionals that are accountable for their actions in the workplace typically obtain more investments from external investors, higher levels of satisfaction amongst employees, and a better return on investment.