Corporate Responsibilty and Governance Report 2022

Running head: Business Law Assignment 0
Corporate Responsibility and Governance
8/26/2019
Student’s Name

CORPORATE RESPONSIBILTY AND GOVERNANCE
1
Contents
Introduction......................................................................................................................................2
Ethical Frameworks.........................................................................................................................2
Importance of clear ethical framework............................................................................................5
Conclusion.......................................................................................................................................6
References........................................................................................................................................8

CORPORATE RESPONSIBILTY AND GOVERNANCE
2
Introduction
Ethics plays an important role in every sector of life and this becomes even crucial when it
comes to business and professional practices. Many of the cases and issues have been reported in
the past where managers and decision-makers of business failed to make ethical decisions. The
case of Enrol Corporation in the USA is the one, which would be discussed, in brief in the
presented report. The lead issue in the application of ethics is unawareness regarding the way in
which ethical decision can be made. Various ethical frameworks are there which helps in
decision-making. This report will identify a different ethical framework, which can be applied to
making a business decision. In addition to this, the report shall also an emphasis on the
Importance of having a clear ethical framework while conducting decision-making.
Ethical Frameworks
Different ethical theories are there which focuses on different aspects. Depending on these
theories, mainly three types of an ethical framework is there. These are The Duty Framework,
The Consequentialist Framework, and the Virtue Framework. Similar to theories, these
frameworks consider the importance of different factors. Nevertheless, to say that no framework
is perfect and they have their own advantages and disadvantages. The frameworks help business
leaders/top management of the company to reach up to ethical decisions based on different
beliefs. These frameworks are detailed as below:-
 The duty Framework: - As the name implies, the frameworks focus on the duty of a
person. The framework states that a person must be aware of his/her obligation and never
should do a thing that is contrary to the ethics and principles attached to his duty and