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Issues in Corporate Governance and Ethical Conduct
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Added on 2020-02-03
Issues in Corporate Governance and Ethical Conduct
Added on 2020-02-03
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ETHICS ANDCORPORATEGOVERNANCE ISSUES
Table of ContentsINTRODUCTION...........................................................................................................................1Ethics and Corporate governance................................................................................................1Issues in corporate governance and ethics..................................................................................3Ethical issues in business............................................................................................................4Behavioural aspects of the processional.....................................................................................6Working of Banking professionals..............................................................................................7Factors that increases customers integrity and trust in the Banking industry ............................7Ways to improve corporate governance, ethics with integrity and trust.....................................9CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10
INTRODUCTIONCorporate governance is the system where the organisation set some rules, process and practicesand well as control and direct them in the proper way. The key purpose of managing thecorporate governance so that company can able to keep balance between the interest of theirstakeholders such as customers, shareholders, suppliers, government, community and financiers.Whereas business ethics is the professional ethics that examines the ethical principles and moralthat are arises in the business environment. The report includes different issues in corporategovernance and ethical conduct such as unauthorised use of social networking sites, lack oftransparency and accountability which reduce the customer integrity and loyalty. For this reportLloyds Banking Group have been selected, which is the largest banking organisation in the UK.The report includes how the bank have cope up the different issues and retain trust and loyalty ofcustomers.Ethics and Corporate governanceEthics is the set of moral principles or the system of the moral values which deals withwhat is good or bad with the moral obligation and duty. In simple words it can be said that is thebasic fundamental principles and concepts which helps to detect the human conduct that whetherhe or she does right or wrong. It consists of the study of the universal values such as requiredquality of all males and females, natural and human rights, follow of the law to the land, beingconcern for the safety or health and connected to the natural environment (Dimopoulos andWagner, 2016). Most of the people in the words relates ethics with their feelings but behave inthe ethical manner id not the matter of following the ones feelings. Some people finds that ethics is connected with the religion, at that situation Advocates isthe person who have high ethical standard. From this statement it is analysed that the ethics isconfined with the religion, but then it applies to all the people whether he or she may be atheist.Religion can be made from the ethical standard and that can serve the motivation for the ethicalbehaviour of the individual. However, ethics is not confined with the religion not it is similarwith the religion. Again ethics is not connected with the following of law. The legislation is oftenincorporated with the ethical standard to which all the citizen subscribe (Yu and Bruton, 2016).But the law similar to the feeling can deviate from what is the ethics. Thus, Ethics consist of thetwo things, one it is refers to the well founded standard of what is right and wrong and that1
prescribe what human being ought to do. This is usually in terms of the obligations, rights,fairness, specific virtues and benefits to the society. These are the standard that are made to stopsome bad activities such as refrain the stealing, rape, assault, rape, fraud and slander. These arethe moral principles by which some rights are made such as right to the freedom from the injury,right to life and privacy. Other than that it is the study and development of the one's ethicalstandard. It is very important find the one's standard so that surety can be made that they are wellformed and reasonable (Samra, 2016). When the ethics is made in the corporate world then it is said that these are the ethics inwhich all the business policies and practices are studied in the proper way which is related to thecontroversial issues. These issues consist of the inside trading, corporate governance,discrimination, corporate social responsibility and fiduciary responsibilities. Laws are oftenmade so that they can able to guide the business ethics and these ethics serve the framework thatthe organisation may select to follow in order to gain the acceptance of the public. Businessethics ensure that there is certain level of trust between the consumers and different form ofmarket publication. Such as the portfolio manager will give some importance to the portfolio offamily members as well as to the small investors which ensure that the stakeholders receives thefair treatment from the organisation. Business ethics is made in the every department of theorganisation say marketing department where the manager need to ensure that they follow allsuch practices which does not harm the customers in any way, they also follow different lawssuch as labelling and advertisement legislation. When it is talked about the productiondepartment, the quality of the good and service should be at the standard level so that it does notcause any health problem to the customers (Boreiko and Murgia, 2016). When it comes to thehuman resource department, the organisation should treat all the employees in the fair mannerand provide regular training and development programs so that workers can enhance their skillsand knowledge.Corporate governance is the system where the organisation set some rules, process andpractices and well as control and direct them in the proper way. The key purpose of managingthe corporate governance so that company can able to keep balance between the interest of theirstakeholders such as customers, shareholders, suppliers, government, community and financiers.Hence, it is also maid so that the company can able to gain their objectives. There are severalmembers that are involved in the corporate governance from which Board of Directors are the2
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