The ethical conduct of business is very important to install
trust among all the stakeholders of the business.
Typically the managers of a company are different than its
owners.
The owner's trust the managers to run it with highest ethical
standards representing the true and fair view. As they themselves
cannot go and check the business on a daily basis.
The moral structure is important because:
It increases the investor's trust which in turn magnifies investors
wealth in the business.
Which is essential for the survival of the business.
In turn, it creates a good image of the business.
The consumer feels confident in using business products and services, it ensures the smooth functioning of the business.
It stops malpractices and promotes quality standards.
Example: Enron is a great example of what happens to unethical
business practices. It destroys the company and investors
value.
Hence, good corporate governance and business ethics are important
for their investment.
Explain to your target audience why you believe that good corporate governance and business ethics are...
What is the role of ethics within corporate governance? Why do corporations establish codes of ethics? Do you think they are effective? Why or why not? Should there be repercussions for failure to adhere to corporate ethics policy? Why or why not? Next, research the code of ethics for a company of your choosing. You can usually find this info on the company’s webpage, or with a simple Google search of “company x” and “code of ethics.” (Be sure to...
The advent of Corporate Governance & Compliance and business ethics represented a major change in the way that senior leadership manages corporate operations. Since the Sarbanes-Oxley Act (SOX) in 2002, the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, and other legislation have been enacted there is a concerted effort to bring transparency, accountability, and ethical behavior back into the market place. Discuss the effects these laws and regulations involving Corporate Governance, Corporate Compliance and business ethics activities...
Identification: Identify the topic and explain why you believe the topic is important. the topic is Interest rates Explanation: Explain the calculations or concepts, and how it can be used in decision-making. Application: Assuming your audience knows nothing about the topic, explain how to apply it: As an entry-level professional. As a mid-level professional. As an executive-level professional. Ethics: Identify 1 ethical issue related to this topic and explain how you would address it.
1.i) What is meant by “business ethics”? a) How do business ethics relate to a business? b) What are some of the benefits of a business acting ethically? c) Give an example of an ethical business and explain your point of view. d) How do business ethics fit in with ASX Corporate Governance Principles & Recommendations? e) What does business ethics have to do with external stakeholders? f) What is a Code of Ethics/Code of Conduct? g) What is the...
A board of directors (BOD) is a crucial part of attaining good corporate governance. Explain the main responsibilities of a BOD. Illustrate two typical governance structures of the BOD and further elaborate on the role and extent of employee participation in relation to the two structures. You may include visual aids in your answers.
The topic is: Capital Budgeting identification: Identify the topic and explain why you believe the topic is important. Explanation: Explain the calculations or concepts, and how it can be used in decision-making. Application: Assuming your audience knows nothing about the topic, explain how to apply it: As an entry-level professional. As a mid-level professional. As an executive-level professional. Ethics: Identify 1 ethical issue related to this topic and explain how you would address it.
Why is it important to analyze your audience before creating a business message? Why is the tone of your message important?
Please review Marianne Jennings' article on "Why an International Code of Ethics Would be Good.” Review Problem 5 of Chapter 19, found on page 664 of your book. Let's look at corporate malfeasance, both specifically as in the case of Mr. Winans, and more generally, at companies across the country. It seems as though there is an outbreak of corporate "bad ethics" that is translating into escalating costs for compliance and policing. Along with the SEC and their policing and...
Good corporate governance is said to be one of the key contributors of the company’s success. a) Define what corporate governance is, and explain why an effective internal audit function and the audit committee are referred to as one of the cornerstones of good corporate governance? (8 marks) b) International standard in audit 220(ISA 220) “quality control for audit financial statements” gives 6 main requirements of quality control procedures for an audit of financial statements of the audit firm. List...
Discuss the corporate control of your business. Explain why your business in Mexico is exposed to agency problems. b. How would you attempt to monitor the ongoing operations of the business?