Business Ethics & Corporate Governance Assignment
Added on 2020-05-28
16 Pages4539 Words748 Views
Running head: CORPORATE GOVERNANCE AND ETHICSCORPORATE GOVERNANCE AND ETHICSName of the studentName of the universityAuthor note
1CORPORATE GOVERNANCE AND ETHICSAbstract:Corporate governance and ethics are the policies and the theories by which a companyfunctions. These are some sort of rules that are maintained by employees, employers andshareholders of a company. Violating these ethics can result into huge financial losses andeven closure of a company. This report discusses on the use of corporate governance andethics and its benefits within a company. The corporate governance theories have beenhighlighted along with the ethics for maintaining financial structure of a company. Examplesof two companies which violated the ethical rules have been discussed along with theconsequences that they went through. The ethical issues of corporate governance and theirfuture aspects have been highlighted further. Lastly, the report concludes with the overviewof the whole report.
2CORPORATE GOVERNANCE AND ETHICSTable of ContentsIntroduction:...............................................................................................................................3Discussions:................................................................................................................................3Ethics for corporate governance:...........................................................................................4The ethics for the management of funds:...............................................................................5The theories of corporate governance:...................................................................................5Ethical frameworks for governance:......................................................................................7Benefits of corporate governance and ethics:........................................................................7Example of two companies violating corporate governance and ethics:...............................8Ethical issues in corporate governance and the future prospects:........................................11Conclusions:.............................................................................................................................12References:...............................................................................................................................13
3CORPORATE GOVERNANCE AND ETHICSIntroduction:Corporate governance is the structure of policies and method of business which acompany follows. It demonstrates the process of power and responsibility that movesbetween board of directors, managers, CEO and all the shareholders of a company (Tricker &Tricker, 2015). The basic structure of the system comprises of shareholders vote andauthorizes a team of board of directors, who are given financial responsibilities for theinterest of the shareholders. The team then employs a CEO, who employs management teamand further progress takes place. A chain is created according to the distribution of power andresponsibilities. The internal rules are created about the whole process, and they are needed tobe maintained to run a company efficiently. It is a set of ethics that needs to be maintained.The ethics are maintained for financial growth of the company and for maintaining healthyrelationship among all the staffs within company. Violating these ethics has resulted incollapsing and financial losses for many companies. Sometimes, proper ethics are notmaintained within a company. This report highlights on the basic rules or ethics of corporategovernance and how the system works. There will be analysis on why these ethics need to befollowed and how the methods are implemented in a company. There will be discussions onbenefits and ethical issues of corporate governance. There will be evaluation about twocompanies violating ethics and about how they collapsed due to this. Lastly, there will bediscussion on how the ethics can be improved and the future aspects of the ethics which canbenefit the companies further.Discussions:Corporate governance and ethics both run with each other for maintaining a standardfor running a company. The difference between them is that the ethics are more logical andproperly appropriate standards that a corporation maintains for functioning wisely, where
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