Ethics, CSR and Corporate Governance - Desklib

Running head: ETHICS, CSR and CORPORATE GOVERNANCE
Ethics, CSR and Corporate Governance
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1EHICS, CSR and CORPORATE GOVERNANCE
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2EHICS, CSR and CORPORATE GOVERNANCE
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3EHICS, CSR and CORPORATE GOVERNANCE
Question 1:
Corporate governance is a term that refers to the practices, rules and processes that are
related to the direction and control of the organization. Corporate Governance ensures the
involvement of the Organization’s committee and board of directors, involves regulatory and
legal frameworks of practice, incorporates the hierarchy of the organization, involves
monitoring and control of the internal operations, ensures transparency and accountability for
actions, and also supports the implementation of policies and procedures. The main aspects of
corporate governance is to set up a vision for the organization, create drive towards it
(mission), identify how to active them (strategy), decide the criterion for success (objectives)
and implement achievable targets (smart goals) in the organization. Corporate social
responsibility on the other hand is a part of corporate governance that ensures the business is
conducted responsibility and the organization fulfills the duties of corporate citizenship. This
includes fulfilling the responsibility of an organization towards its environment, community,
workplace and its market. All these practices are based on the principles of ethics that helps
the organization to understand the importance of governance and social responsibilities of an
organization. Ethics are essentially the moral principles that help to govern the behavior of an
organization or individual. Ethical codes help to identify and implement practices that are
moral and responsible, involve accountability and ensure professionalism. Thus, ethical
principles drive corporate governance, and CSR is one of the objectives of the corporate
governance.
Question 2:
It is not unusual to come across an ethical dilemma in both professional and personal
life. This can occur anytime when the actions that is expected does not align with the ethical
or moral codes. In such instances, it is important to analyze the situation thoroughly, and