New Issues in Corporate Governance
Corporate governance is the set of processes, customs, policies, laws and institutions affecting the way in which a corporation is directed, administered or controlled. Corporate governance also includes the relationships among the many players involved (the stakeholders) and the goals for which the corporation is governed. The principal players are the shareholders, management and the board of directors. Other stakeholders include employees, suppliers, customers, banks and other lenders, regulators, the environment and the community at large. Corporate governance is a multi-faceted subject. An important theme of corporate governance deals with issues of accountability and fiduciary duty, essentially advocating the implementation of policies and mechanisms to ensure good behaviour and protect shareholders. Another key focus is the economic efficiency view, through which the corporate governance system should aim to optimise economic results, with a strong emphasis on shareholders welfare. There are yet other
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Page 6 - There's no such thing as business ethics — there's only ethics. People try to use one set of ethics for their professional life, another for their spiritual life, and still another at home with their family. That gets them into trouble. Ethics is ethics. If you desire to be ethical, you live it by one standard across the board.
Page 1 - ... professor Joseph Badaracco Jr. found clear evidence of this in a research study based principally on interviews with thirty recent Harvard Business School graduates. Badaracco describes what happened: In many cases, young managers received explicit instructions from their middle-manager bosses or felt strong organizational pressure to do things that they believed were sleazy, unethical, or sometimes illegal.