Corporate Governance and Ethical Responsibility Abstract: Corporate governance and ethical responsibility are two major business aspects that have received sharp focus in the recent past mainly because of the recent corporate malpractices, accounting frauds, and corporate failures. These factors have become a major point of focus by various stakeholders including the public, the government, and legal aspects. This article provides a detailed analysis of each of the two business aspects and their
Corporate governance essentially involves balancing the interest of the business’s stakeholders and the community. Corporate governance can also be defined as the systems by which companies are directed and controlled. It is also important to note that directors and executives must discharge they duties in a legal manner as part of corporate
Between the years 2000 and 2002 there were over a dozen corporate scandals involving unethical corporate governance practices. The allegations ranged from faulty revenue reporting and falsifying financial records, to the shredding and destruction of financial documents (Patsuris, 2002). Most notably, are the cases involving Enron and Arthur Andersen. The allegations of the Enron scandal went public in October 2001. They included, hiding debt and boosting profits to the tune of more than one billion
Benn (2003) conceive corporations as channels of social purpose, constructed within society to attain useful social objectives. Henceforth, corporate social responsibility commits a significant role towards the sustainability of corporations. Both corporate social responsibilities and sustainability, and its related concepts influence all aspects of business. Chandler and Werther (2010) acknowledge the understanding of corporate social responsibilities as an
8 Corporate Governance and Corporate Social Responsibility Learning Objectives In the wake of perusing this part, you will have the capacity to- ♦ Define Corporate Governance and comprehend the expression "partner" ♦ Explain different corporate administration activities in India and abroad ♦ Understand Corporate Social Responsibility and the need and significance of being a Corporate Citizen ♦ Explain the usage and rundown the advantages of Corporate Social Responsibility "What
Abstract Accountability is an essential ingredient of corporate governance, and indeed is the reason for any corporate governance set up. This paper discusses the ways in which accountability contributes to corporate governance and vice versa, and the mechanisms by which organizations may become more accountable and transparent. Corporate governance and accountability are often interrelated in organizations and provides a focus for business practices that promote fairness, ethical behavior, and
Friedman’s philosophy of corporate responsibility is that “social matters are not the concern of business people and that these problems should be resolved by the unfettered workings of the free market system”. As harsh as it may sound, what he mean course to say was that a business has “to make as much money as possible while conforming to basic rules of society”. Meanwhile, Archie Carroll’s philosophy states that a business has “four kinds of social responsibilities” that a firm must address
Corporate governance: An Insight to Product Market Innovation in Competition RESEARCH SYNOPSIS SUBMITTED FOR THE PARTIAL FULFILLMENT OF THE COURSE REQUIREMENT OF IX SEMESTER CORPORATE GOVERNANCE ____________________________ SUBMITTED BY: REGISTRATION NO. – 10A069 SEMESTER - IX SUBMITTED TO: Ms. GARIMA GOSWAMI FACULTY IN CHARGE, CORPORATE GOVERNANCE GUJARAT NATIONAL LAW UNIVERSITY, GANDHINAGAR 2014 ACKNOWLEDGEMENT It is indeed a great pleasure for me to undertake
why a good corporate governance framework must incorporate stakeholder accountability. For the purpose of this paper, the term stakeholder governance will be used to incorporate all aspects of stakeholder accountability and engagement, that is; dialogue, decision making, transparent operations and implementation of solutions to common problems or goals. The first part of this paper will describe how the landscape has changed for business operations due to environmental, economic and social reasons
CORPORATE SOCIAL RESPONSIBILITY IN INDIA “Crossing the Bridge from Knowing to doing” Jasleen Kaur Luthra* “Successful people have a social responsibility to make the world a better place and not just take from it.” Carie Underwood Abstract The 21st century is characterized by unprecedented challenges and opportunities, arising from globalization, the desire for inclusive