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Corporate governance is the rules in which companies are controlled. This governance essentially balances the

Kaptein M and Schwartz S: 2008 'The Effectiveness of Business Codes: A Critical Examination of Existing Studies and the Development of an Integrated Research Model', Journal of Business 77: 111-127

Corporate governance in itself has no single definition but common principles which it should follow. For example in 1994 the most agreed term for corporate governance was “the process of supervision and control intended to ensure that the company’s management acts in accordance with the interest of shareholders” (Parkinson, 1994)1. Corporate governance code is not a direct set of rules but a self-regulated framework which businesses choose to follow. This code has continued to change in the past 20 years in accordance with what is happening in the business world. For example the Enron scandal caused reform in corporate governance with the Higgs Report which corrected the issues which were necessary. Although it does not quickly fix problems, it gives a better framework to

We as business owners, management and or in a role of authority must set, address and comply with a solid foundation of ethics. “A code of conduct is the single most important element of your ethics and compliance program. It sets the tone and direction for the entire function. Often, the code is a standalone document, ideally only a few pages in length. It introduces the concept of ethics and compliance and provides an overview of what you mean when you talk about ethical business conduct.”

At Company X, it is our upmost desire to comply with rules and laws pertaining to our business, and to hold our values at a spectacular level. Our company values include responsibility, equality, honesty, confidentiality, respect, and integrity. These values are the building block of our company, and should be followed by all employees, management, and any persons associated with our business. By adhering to the code of conduct, our work environment will be comfortable and reliable, and will help avoid unethical behavior.

Transparency is one of the capital goals, such that humans accomplishing business anywhere in the country will apperceive what to apprehend and how to behave. Overall, the code 's cold is to annihilate abashing and conflicts amid accompaniment laws in the amount of barter and sales.

The Uniform Commercial Code covers business operations. It was published in 1952 after approval by the American Law Institute, the National Conference of Commissioners on Uniform State Law, the House of Delegates and the American Bar Association. There are 9 chapters in the Code that cover sales, leases, negotiable instruments, bank deposits and collections, funds transfers, letters of credit, documents of title, investment securities and secured transactions.

A code is an open disclosure of the way an organization operates. It provides visible guidelines for behavior. A well-written and thoughtful code also serves as an important communication vehicle that "reflects the covenant that an organization has made to uphold its most important values, dealing with such matters as its commitment to employees, its standards for doing business and its relationship with the community.

The code will direct all officers and employees while conducting company business to: obey all rules, regulations and laws, conduct themselves with honesty and integrity and to avoid all conflicts of interests with the company business, report to work in condition to work and be free from the influence of alcohol or drugs, respect the rights and deal fairly with all clients, keep honest and accurate records and reports of company information, respect the diversity of all and not engage in discrimination or harassment, preserve the confidentiality of all company information entrusted to them, maintain

1. To appoint a special committee of individuals hand-selected by the CEO and Board of Directors to research and compose an official Code of Ethics to be approved by the CEO and Board of Directors and to be implemented into our corporate culture at all levels of the hierarchy.

decide if the staffs are abiding by functional guidelines. Third reason, codes assist the progress of

Ethical codes are adopted by organizations to help members to be aware of the difference between the right and wrong behavior, or in other word to determine what is the acceptable or ethical behavior and un ethical behavior. Based on understanding the difference between the ethical and unethical behavior they can apply that understanding to their decisions.

Whilst the definition of corporate governance most widely used is "the system by which companies are directed and controlled" presented by Cadbury Committee, (1992). More specifically it is the framework by which the various stakeholder interests are balanced, or, as the IFC (International Finance Corporation) states, "the relationships among the management, Board of Directors, controlling shareholders, minority shareholders and other stakeholders".

Corporate governance can be defined as the process, customs, laws by which the affairs of a company are managed and controlled it also

Corporate Governance refers to the way a corporation is governed. It is the technique by which companies are directed and managed. It means carrying the business as per the stakeholders’ desires. It is actually conducted by the board of Directors and the concerned committees for the company’s stakeholder’s benefit. It is all about balancing individual and societal goals, as well as, economic and social goals. Corporate Governance is the interaction between various participants (shareholders, board of directors, and company’s management) in shaping corporation’s performance and the way it is proceeding towards. The relationship between the owners and the managers in an organization must be healthy and there should be no conflict between the