business ethics and corporate governance assignment

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What Is Business Ethics?

Understanding business ethics, why is business ethics important, types of business ethics.

• Implementing Good Business Ethics
• Monitoring and Reporting

The Bottom Line

What is business ethics definition, principles, and importance.

Yarilet Perez is an experienced multimedia journalist and fact-checker with a Master of Science in Journalism. She has worked in multiple cities covering breaking news, politics, education, and more. Her expertise is in personal finance and investing, and real estate.

Business ethics is the moral principles, policies, and values that govern the way companies and individuals engage in business activity. It goes beyond legal requirements to establish a code of conduct that drives employee behavior at all levels and helps build trust between a business and its customers.

Key Takeaways

• Business ethics refers to implementing appropriate business policies and practices with regard to arguably controversial subjects.
• Some issues that come up in a discussion of ethics include corporate governance, insider trading, bribery, discrimination, social responsibility, and fiduciary responsibilities.
• The law usually sets the tone for business ethics, providing a basic guideline that businesses can choose to follow to gain public approval.

Investopedia / Katie Kerpel

Business ethics ensure that a certain basic level of trust exists between consumers and various forms of market participants with businesses. For example, a portfolio manager must give the same consideration to the portfolios of family members and small individual investors as they do to wealthier clients. These kinds of practices ensure the public receives fair treatment.

The concept of business ethics began in the 1960s as corporations became more aware of a rising consumer-based society that showed concerns regarding the environment, social causes, and corporate responsibility. The increased focus on "social issues" was a hallmark of the decade.

Since that time, the concept of business ethics has evolved. Business ethics goes beyond just a moral code of right and wrong; it attempts to reconcile what companies must do legally vs. maintaining a competitive advantage over other businesses. Firms display business ethics in several ways.

Business ethics ensure a certain level of trust between consumers and corporations, guaranteeing the public fair and equal treatment.

Principles of Business Ethics

It's essential to understand the underlying principles that drive desired ethical behavior and how a lack of these moral principles contributes to the downfall of many otherwise intelligent, talented people and the businesses they represent.

There are generally 12 business ethics principles:

• Leadership : The conscious effort to adopt, integrate, and emulate the other 11 principles to guide decisions and behavior in all aspects of professional and personal life.
• Accountability : Holding yourself and others responsible for their actions. Commitment to following ethical practices and ensuring others follow ethics guidelines.
• Integrity : Incorporates other principles—honesty, trustworthiness, and reliability. Someone with integrity consistently does the right thing and strives to hold themselves to a higher standard.
• Respect for others : To foster ethical behavior and environments in the workplace, respecting others is a critical component. Everyone deserves dignity, privacy, equality, opportunity, compassion, and empathy.
• Honesty : Truth in all matters is key to fostering an ethical climate. Partial truths, omissions, and under or overstating don't help a business improve its performance. Bad news should be communicated and received in the same manner as good news so that solutions can be developed.
• Respect for laws : Ethical leadership should include enforcing all local, state, and federal laws. If there is a legal grey area, leaders should err on the side of legality rather than exploiting a gap.
• Responsibility : Promote ownership within an organization, allow employees to be responsible for their work, and be accountable for yours.
• Transparency : Stakeholders are people with an interest in a business, such as shareholders, employees, the community a firm operates in, and the family members of the employees. Without divulging trade secrets, companies should ensure information about their financials, price changes, hiring and firing practices, wages and salaries, and promotions are available to those interested in the business's success.
• Compassion : Employees, the community surrounding a business, business partners, and customers should all be treated with concern for their well-being.
• Fairness : Everyone should have the same opportunities and be treated the same. If a practice or behavior would make you feel uncomfortable or place personal or corporate benefit in front of equality, common courtesy, and respect, it is likely not fair.
• Loyalty : Leadership should demonstrate confidentially and commitment to their employees and the company. Inspiring loyalty in employees and management ensures that they are committed to best practices.
• Environmental concern : In a world where resources are limited, ecosystems have been damaged by past practices, and the climate is changing, it is of utmost importance to be aware of and concerned about the environmental impacts a business has. All employees should be encouraged to discover and report solutions for practices that can add to damages already done.

There are several reasons business ethics are essential for success in modern business. Most importantly, defined ethics programs establish a code of conduct that drives employee behavior—from executives to middle management to the newest and youngest employees. When all employees make ethical decisions, the company establishes a reputation for ethical behavior. Its reputation grows, and it begins to experience the benefits a moral establishment reaps:

• Brand recognition and growth
• Increased ability to negotiate
• Increased trust in products and services
• Customer retention and growth
• Attracts talent
• Attracts investors

When combined, all these factors affect a business' revenues. Those that fail set ethical standards and enforce them are doomed to eventually find themselves alongside Enron, Arthur Andersen, Wells Fargo, Lehman Brothers, Bernie Madoff, and many others.

There are several theories regarding business ethics, and many different types can be found, but what makes a business stand out are its corporate social responsibility practices, transparency and trustworthiness, fairness, and technological practices.

Corporate Social Responsibility

Corporate social responsibility (CSR) is the concept of meeting the needs of stakeholders while accounting for the impact meeting those needs has on employees, the environment, society, and the community in which the business operates. Of course, finances and profits are important, but they should be secondary to the welfare of society, customers, and employees—because studies have concluded that corporate governance and ethical practices increase financial performance.

Businesses should hold themselves accountable and responsible for their environmental, philanthropic, ethical, and economic impacts.

Transparency and Trustworthiness

It's essential for companies to ensure they are reporting their financial performance in a way that is transparent. This not only applies to required financial reports but all reports in general. For example, many corporations publish annual reports to their shareholders.

Most of these reports outline not only the submitted reports to regulators, but how and why decisions were made, if goals were met, and factors that influenced performance. CEOs write summaries of the company's annual performance and give their outlooks.

Press releases are another way companies can be transparent. Events important to investors and customers should be published, regardless of whether it is good or bad news.

Technological Practices and Ethics

The growing use of technology of all forms in business operations inherently comes with a need for a business to ensure the technology and information it gathers is being used ethically. Additionally, it should ensure that the technology is secured to the utmost of its ability, especially as many businesses store customer information and collect data that those with nefarious intentions can use.

A workplace should be inclusive, diverse, and fair for all employees regardless of race, religion, beliefs, age, or identity. A fair work environment is where everyone can grow, be promoted, and become successful in their own way.

How to Implement Good Business Ethics

Fostering an environment of ethical behavior and decision-making takes time and effort—it always starts at the top. Most companies need to create a code of conduct/ethics, guiding principles, reporting procedures, and training programs to enforce ethical behavior.

Once conduct is defined and programs implemented, continuous communication with employees becomes vital. Leaders should constantly encourage employees to report concern behavior—additionally, there should be assurances that if whistle-blowers will not face adversarial actions.

A pipeline for anonymous reporting can help businesses identify questionable practices and reassure employees that they will not face any consequences for reporting an issue.

Monitoring and Reporting Unethical Behavior

When preventing unethical behavior and repairing its adverse side effects, companies often look to managers and employees to report any incidences they observe or experience. However, barriers within the company culture (such as fear of retaliation for reporting misconduct) can prevent this from happening.

Published by the Ethics & Compliance Initiative (ECI), the Global Business Ethics Survey of 2021 surveyed over 14,000 employees in 10 countries about different types of misconduct they observed in the workplace. 49% of the employees surveyed said they had observed misconduct and 22% said they had observed behavior they would categorize as abusive. 86% of employees said they reported the misconduct they observed. When questioned if they had experienced retaliation for reporting, 79% said they had been retaliated against.

Indeed, fear of retaliation is one of the primary reasons employees cite for not reporting unethical behavior in the workplace. ECI says companies should work toward improving their corporate culture by reinforcing the idea that reporting suspected misconduct is beneficial to the company. Additionally, they should acknowledge and reward the employee's courage in making the report.

Business ethics concerns ethical dilemmas or controversial issues faced by a company. Often, business ethics involve a system of practices and procedures that help build trust with the consumer. On one level, some business ethics are embedded in the law, such as minimum wages, insider trading restrictions, and environmental regulations. On another, business ethics can be influenced by management behavior, with wide-ranging effects across the company.

What Are Business Ethics and Example?

Business ethics guide executives, managers, and employees in their daily actions and decision-making. For example, consider a company that has decided to dump chemical waste that it cannot afford to dispose of properly on a vacant lot it has purchased in the local community. This action has legal, environmental, and social repercussions that can damage a company beyond repair.

What Are the 12 Ethical Principles?

Business ethics is an evolving topic. Generally, there are about 12 ethical principles: honesty, fairness, leadership, integrity, compassion, respect, responsibility, loyalty, law-abiding, transparency, and environmental concerns.

Business ethics concerns employees, customers, society, the environment, shareholders, and stakeholders. Therefore, every business should develop ethical models and practices that guide employees in their actions and ensure they prioritize the interests and welfare of those the company serves.

Doing so not only increases revenues and profits, it creates a positive work environment and builds trust with consumers and business partners.

New York University Stern Center for Sustainable Business. " ESG and Financial Performance: Uncovering the Relationship By Aggregating Evidence From 1,000 Plus Studies Published Between 2015 – 2020 ."

Ethics & Compliance Initiative (ECI). " The State of Ethics & Compliance in the Workplace ," Pages 16-22.

Ethics & Compliance Initiative (ECI). " 2021 Global Business Ethics Survey Report The State of Ethics & Compliance in the Workplace: A Look at Global Trends ."

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Corporate Governance Research Paper Topics

This guide provides a comprehensive list of corporate governance research paper topics divided into 10 categories, expert advice on choosing a relevant and feasible topic, and tips on how to write a successful corporate governance research paper. Corporate governance is a critical aspect of modern business that has a significant impact on the success of organizations. As a result, students who study corporate governance are often assigned to write research papers that explore various aspects of the topic. In addition, iResearchNet offers custom writing services that provide expert degree-holding writers, customized solutions, and timely delivery. By using this guide and iResearchNet’s writing services, students can ensure that their corporate governance research papers meet the highest academic standards.

Corporate Governance Research

Corporate governance is a critical aspect of modern business that encompasses the practices, processes, and systems by which organizations are directed, controlled, and managed. As a result, students who study corporate governance are often assigned to write research papers that explore various aspects of the topic, ranging from board structures and executive compensation to shareholder activism and stakeholder engagement.

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In this guide, we provide a comprehensive list of corporate governance research paper topics divided into 10 categories, expert advice on how to choose a relevant and feasible topic, and tips on how to write a successful corporate governance research paper. In addition, we offer custom writing services through iResearchNet that provide expert degree-holding writers, customized solutions, and timely delivery.

By using this guide and iResearchNet’s writing services, students can ensure that their corporate governance research papers are well-researched, well-written, and meet the highest academic standards.

100 Corporate Governance Research Paper Topics

Corporate governance is a broad and complex topic that encompasses a wide range of issues and challenges facing modern organizations. To help students choose a relevant and feasible corporate governance research paper topic, we have divided our comprehensive list of topics into 10 categories, each with 10 topics.

Board of Directors

• Board independence and effectiveness
• Board diversity and gender equality
• CEO duality and separation of roles
• Board composition and characteristics
• Board oversight and accountability
• Board nominations and elections
• Board leadership and culture
• Board committees and responsibilities
• Board evaluation and performance
• Board compensation and incentives

Executive Compensation

• Executive pay and performance
• Executive pay and firm performance
• Pay-for-performance and pay-for-skill
• CEO pay ratios and pay equity
• Stock options and equity-based compensation
• Executive severance and golden parachutes
• Executive perquisites and benefits
• Executive retirement and pensions
• Say-on-pay and shareholder activism
• Institutional investors and executive pay

Shareholder Activism

• Shareholder rights and activism
• Shareholder proposals and proxy access
• Shareholder engagement and communication
• Shareholder activism and corporate social responsibility
• Institutional investors and shareholder activism
• Hedge funds and shareholder activism
• Shareholder activism and executive compensation
• Shareholder activism and board independence
• Shareholder activism and corporate governance reforms
• Shareholder activism and CEO turnover

Stakeholder Engagement

• Stakeholder identification and analysis
• Stakeholder mapping and prioritization
• Stakeholder communication and dialogue
• Stakeholder participation and empowerment
• Stakeholder consultation and feedback
• Stakeholder engagement and corporate social responsibility
• Stakeholder engagement and sustainability reporting
• Stakeholder engagement and risk management
• Stakeholder engagement and corporate reputation
• Stakeholder engagement and value creation

Corporate Culture and Ethics

• Corporate values and ethics
• Ethical leadership and decision-making
• Corporate social responsibility and sustainability
• Business ethics and compliance
• Corporate citizenship and philanthropy
• Corporate culture and values alignment
• Corporate culture and employee behavior
• Corporate culture and organizational performance
• Corporate culture and innovation
• Corporate culture and risk management

Board-Shareholder Relations

• Board-shareholder communication and engagement
• Board-shareholder conflict resolution
• Board-shareholder cooperation and collaboration
• Board-shareholder activism and response
• Board-shareholder rights and responsibilities
• Board-shareholder agreements and charters
• Board-shareholder engagement and corporate social responsibility
• Board-shareholder relations and institutional investors
• Board-shareholder relations and minority shareholders
• Board-shareholder relations and corporate governance reforms

Regulatory and Legal Environment

• Corporate governance regulations and compliance
• Corporate governance laws and policies
• Corporate governance codes and standards
• Corporate governance enforcement and penalties
• Corporate governance and public policy
• Corporate governance and the role of regulators
• Corporate governance and antitrust laws
• Corporate governance and securities laws
• Corporate governance and data privacy laws
• Corporate governance and intellectual property laws

Risk Management and Disclosure

• Enterprise risk management and oversight
• Risk management and strategic planning
• Risk management and financial reporting
• Risk management and sustainability reporting
• Risk management and cybersecurity
• Risk management and climate change
• Risk management and supply chain management
• Risk management and crisis management
• Risk management and stakeholder engagement
• Risk management and disclosure requirements

International Corporate Governance

• Cross-border mergers and acquisitions and corporate governance
• Corporate governance and foreign direct investment
• Corporate governance and multinational corporations
• Corporate governance and global supply chains
• Corporate governance and global financial markets
• Corporate governance and emerging markets
• Corporate governance and corruption
• Corporate governance and cultural diversity
• Corporate governance and the United Nations Sustainable Development Goals
• Corporate governance and global challenges

Corporate Governance Reform

• Corporate governance failures and scandals
• Corporate governance reforms and their impact
• Corporate governance and shareholder activism
• Corporate governance and executive compensation reform
• Corporate governance and board independence reform
• Corporate governance and stakeholder engagement reform
• Corporate governance and diversity and inclusion reform
• Corporate governance and sustainability reform
• Corporate governance and regulatory reform
• Corporate governance and future trends

By organizing the corporate governance research paper topics into categories, students can easily identify areas of interest and develop research questions that align with their academic goals and interests. The categories cover a wide range of issues and challenges facing modern organizations, from board structures and executive compensation to stakeholder engagement and international corporate governance.

Choosing a Topic in Corporate Governance

Choosing a relevant and feasible corporate governance research paper topic is critical for success in academia. The following are expert tips on how to choose a corporate governance research paper topic:

• Consider your interests : Choose a topic that you are interested in and passionate about. Your enthusiasm for the topic will help you stay motivated throughout the research and writing process.
• Identify a research gap : Choose a topic that fills a research gap or addresses a new research question. This will help you contribute new knowledge to the field and make a meaningful contribution to academic scholarship.
• Consult with your instructor : Discuss potential topics with your instructor and seek feedback on your ideas. Your instructor can help you refine your research question and suggest relevant literature and sources.
• Conduct a literature review : Conduct a literature review to identify gaps and areas of interest within the field. This will help you develop research questions and identify key concepts and themes.
• Consider feasibility : Choose a topic that is feasible given the time and resources available to you. Be realistic about your research scope and the data sources that are available to you.
• Stay current : Choose a topic that is current and relevant to the field. This will help you stay up-to-date on the latest trends and developments in corporate governance.
• Identify a manageable scope : Choose a topic that has a manageable scope. Narrow down your research question to a specific aspect of corporate governance that can be explored in-depth within the scope of a research paper.
• Brainstorm potential topics : Brainstorm a list of potential topics based on your interests, literature review, and discussions with your instructor. Evaluate each topic based on its relevance, feasibility, and potential impact.

By following these expert tips, students can choose a relevant and feasible corporate governance research paper topic that aligns with their academic interests and goals. In the next section, we provide tips on how to write a successful corporate governance research paper.

How to Write a Corporate Governance Research Paper

Writing a successful corporate governance research paper requires careful planning and attention to detail. The following are expert tips on how to write a corporate governance research paper:

• Develop a clear research question : Develop a clear and concise research question that addresses a gap or new research question within the field of corporate governance. The research question should be specific and focused to ensure a manageable scope for the research paper.
• Conduct a literature review : Conduct a comprehensive literature review to identify key concepts and themes within the field of corporate governance. This will help you develop a theoretical framework and provide a foundation for your research paper.
• Select appropriate research methods : Select appropriate research methods that align with your research question and objectives. This may include qualitative, quantitative, or mixed-methods research approaches.
• Collect and analyze data : Collect and analyze data using appropriate research methods. This may include conducting interviews, surveys, or analyzing financial data. Ensure that your data collection and analysis is rigorous and aligns with the research question and objectives.
• Develop a clear and structured outline : Develop a clear and structured outline for your research paper. This will help you organize your thoughts and ideas and ensure a logical flow of information.
• Write a clear and concise introduction : Write a clear and concise introduction that provides background information and context for the research question. The introduction should also clearly state the research question and objectives.
• Develop a comprehensive literature review : Develop a comprehensive literature review that provides a theoretical framework for the research question. The literature review should be organized thematically and include key concepts and themes within the field of corporate governance.
• Analyze and interpret findings : Analyze and interpret the findings of the research. Ensure that your analysis and interpretation aligns with the research question and objectives.
• Develop a clear and concise conclusion : Develop a clear and concise conclusion that summarizes the key findings of the research and provides implications for practice and future research.
• Ensure proper formatting and citation : Ensure that your research paper is properly formatted and cited. Follow the guidelines of the citation style required by your instructor, such as APA, MLA, or Chicago.

By following these expert tips, students can write a successful corporate governance research paper that contributes new knowledge to the field and makes a meaningful contribution to academic scholarship. In the next section, we provide information on how students can benefit from the iResearchNet writing services for corporate governance research papers.

iResearchNet Writing Services for Corporate Governance Research Papers

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• Expert degree-holding writers : Our writers are experts in corporate governance with advanced degrees in the field. They have the knowledge and expertise to produce high-quality research papers that meet the academic standards of students.
• Custom written works : We provide custom written works that are tailored to the specific needs and requirements of each student. Our writers work closely with students to ensure that their research papers meet their expectations and academic standards.
• In-depth research : Our writers conduct in-depth research to ensure that the research papers are well-supported with relevant and reliable sources.
• Custom formatting : Our writers are well-versed in various citation styles, including APA, MLA, Chicago/Turabian, and Harvard. We ensure that the research papers are properly formatted and cited according to the required citation style.
• Top quality, customized solutions : We are committed to providing top-quality and customized solutions that meet the unique needs and requirements of each student.
• Flexible pricing : We offer flexible pricing options to ensure that our writing services are affordable for students.
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• Timely delivery : We ensure timely delivery of research papers to ensure that students have enough time to review and submit their assignments.
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Writing a successful corporate governance research paper requires careful planning and attention to detail. By choosing a relevant and feasible research paper topic, conducting a comprehensive literature review, and following the tips outlined in this article, students can produce high-quality research papers that make meaningful contributions to the field of corporate governance. Additionally, iResearchNet writing services offer students a valuable resource for producing high-quality research papers that meet the academic standards of their instructors. With expert degree-holding writers, customized solutions, and a range of support features, iResearchNet can help students achieve academic success and excel in their studies. Contact us today to learn more about our writing services and how we can assist you in your corporate governance research paper writing needs.

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• Business Ethics Cases
• Markkula Center for Applied Ethics
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• Business Ethics Resources

Find ethics case studies on bribery, sourcing, intellectual property, downsizing, and other topics in business ethics, corporate governance, and ethical leadership. (For permission to reprint articles, submit requests to [email protected] .)

In this business ethics case study, Swedish multinational company IKEA faced accusations relating to child labor abuses in the rug industry in Pakistan which posed a serious challenge for the company and its supply chain management goals.

A dog may be humanity’s best friend. But that may not always be the case in the workplace.

A recent college graduate works in the finance and analytics department of a large publicly traded software company and discovers an alarming discrepancy in sales records, raising concerns about the company’s commitment to truthful reporting to investors. 

What responsibility does an employee have when information they obtained in confidence from a coworker friend may be in conflict with the needs of the company or raises legal and ethical questions.

A manager at a prominent multinational company is ethically challenged by a thin line between opportunity for economic expansion in a deeply underserved community, awareness of child labor practices, and cultural relativism.

A volunteer providing service in the Dominican Republic discovered that the non-profit he had partnered with was exchanging his donor money on the black market, prompting him to navigate a series of complex decisions with significant ethical implications.

The CFO of a family business faces difficult decisions about how to proceed when the COVID-19 pandemic changes the business revenue models, and one family shareholder wants a full buyout.

An employee at an after-school learning institution must balance a decision to accept or decline an offered gift, while considering the cultural norms of the client, upholding the best interests of all stakeholders, and following the operational rules of his employer. 

A senior vice president for a Fortune 500 savings and loan company is tasked with the crucial responsibility of representing the buyer in a multi-million dollar loan purchase deal and faces several ethical challenges from his counterpart representing the seller.

Extensive teaching note based on interviews with Theranos whistleblower Tyler Shultz. The teaching note can be used to explore issues around whistleblowing, leadership, the blocks to ethical behavior inside organizations, and board governance.

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Resources: Discussions and Assignments

Module 6 assignment: business ethics and corporate social responsibility.

Open Pedagogy Assignments are assignments in which students use their agency and creativity to create knowledge artifacts that can support their own learning, their classmates’ learning, and the learning of students around the world. (See this peer-reviewed article for more details.) The assignment on this page is aligned to the learning outcomes of Introduction to Business and we’ve identified the module where the reading appears. All of the assignments can be created with a cell phone camera or any video recording device, Google or Word documents, and your learning management system. 

In the module on Business Ethics and Corporate Social Responsibility (CSR), there is a case study on TOMS shoes. For this assignment, you are going to work with a small group to hunt down useful links and resources for your fellow students about other businesses who may fit into the same CSR. This work will become a living document that future students will use.

Think of your audience as friends who have never heard of the company of your choice.

• In your own words, summarize the business’ mission statement. You can take a look at TOMS website as an example of what to look for in your research.
• Does your business of choice reflect the values of a social entrepreneur? If so, why? If not, why? Cite specifics from the business’ website.

A Note To Teachers: Use the case study in the course as a way to scaffold your students’ discussions and research. You may want to break your students into groups and let them work on their own document that you will eventually create into one document. Over time, it may be useful to have students check to see if businesses have changed their practices for better or for worse. We chose the TOMS example because they’ve changed their charitable focus as they’ve become more successful.

• Open Pedagogy Assignment: Business Ethics and Corporate Social Responsibility. Authored by : Lumen Learning. Provided by : Lumen Learning. License : CC BY: Attribution

Assessment Questions

Which of these concepts relates to utilitarianism?

• consequences

True or false? According to the Greek system of logic introduced by Socrates, normative ethical theories ultimately are grounded in reason.

Explain why ethical responsibilities go beyond legal compliance.

Describe the difference between normative and descriptive ethical theories.

Which of the following is not a stakeholder?

• corporate culture
• the environment

True or false? According to Milton Friedman, a company’s social responsibility consists solely of bettering the welfare of society.

What is corporate social responsibility (CSR)?

Describe a practical way to prioritize the claims of stakeholders.

Describe how a company’s ethical business practices affect its goodwill.

True or false? Family is generally a strong influence on our ethical standards.

Which normative ethical theory supports the idea of holding multiple ethical standards?

• utilitarianism
• virtue ethics
• none of the above

Describe the benefits of having a single ethical standard.

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Access for free at https://openstax.org/books/business-ethics/pages/1-introduction

• Authors: Stephen M. Byars, Kurt Stanberry
• Publisher/website: OpenStax
• Book title: Business Ethics
• Publication date: Sep 24, 2018
• Location: Houston, Texas
• Book URL: https://openstax.org/books/business-ethics/pages/1-introduction
• Section URL: https://openstax.org/books/business-ethics/pages/1-assessment-questions

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SEMESTER-4 ASSIGNMENT-BUSINESS ETHICS,GOVERNANCE & RISK

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Prof.Dr.Rashmi Gujrati

The paper addresses the concepts of business ethics and corporate social responsibility in the old vis-à-vis the new economy. The effects of globalization and its impact on the transition from the industrial to the digital era are explored. Although the behaviour of business organizations has always had a thoughtful worldwide impact, with the turn down of the nation state economic power has, for the first time, tough political power. Simultaneously, the undergoing revolution in contemporary information and communication technologies has significantly empowered the customer. Responding to better customer awareness and sensitivity to business and social responsibility issues -coupled with consumers' increasing ability to react- companies in the digital age may be expected to develop even stronger cultures of corporate social responsibility, proactively seeking to increasingly honour their moral obligations to society in the 21st century In recent years, due to the globalization of markets and production processes, an ever increasing number of marketers and entrepreneur and business manager have to deal with ethics and social responsibility issues in cross-cultural settings. In this article, main approaches in marketing ethics and social responsibility have been reviewed for ethical analysis and business manager in international settings. The main purpose of the study is to present some guidelines that can serve as a guide for global marketers in the important areas for markets ethics and social responsibility. It is supposed to assist marketers in their efforts to behave in an ethical fashion. It is assumed that local conditions of markets may be different, but some global markets, ethics and social responsibility principles should be applicable to all markets. It is proposed that a uniform code of ethics and social responsibility should be created by WTO and UN organizations to solve diverse culturaldifferences to arrive at cooperative strategies in markets. Keywords: Globalization, Ethics, Marketing Ethics, Corporate Social Responsibility. : Business ethics, and international business ethics., e-Economy.

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Business Ethics & Corporate Governance Assignment

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Business Ethics and Corporate Governance Assignment

BUSINESS ETHICS AND CORPORATE GOVERNANCE ASSIGNMENT I. CSR practices by Maruti Suzuki & Maytas Infra ltd. A) CSR by Maruti Suzuki India Ltd. Employee welfare Company will be deeply committed towards the welfare of its employees, their families and communities around its operations to improve quality of life as a whole. Practicing 3R (Reduce, Reuse and Recycle) The company has been promoting 3R since its inception. As a result the company has not only been able to recycle 100% of treated waste water but also reduced fresh water consumption.

The company has implemented rain water harvesting to recharge the aquifers. Also, recyclable packing for bought out components is being actively promoted. Greening of Supply Chain The company has been facilitating implementation of Environment Management System (EMS) at its suppliers’ end. Regular training programs are conducted for all the suppliers on EMS. Surveys are conducted to assess the vendors who need more guidance. The systems and the environmental performance of suppliers are audited. Adopting energy saving technologies

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While the company continuous to improve energy saving initiatives through numerous Kaizens (continuous improvements) on the shop floor, thrust on adopting energy saving technologies has increased phenomenally. Three-coat-one-bake painting system: The Company introduced the three-coat one-bake system at its Manesar facilities. In this state of the art painting system, three wet-on-wet coats are applied and baked together. Conventional painting systems use two baking steps before the final finish. This helps is lower energy consumption and yet improving the productivity levels.

The green co-efficient of this system is much better than the conventional system. Road Safety The company has been playing a leading role for many years now in promoting road safety and safe driving in the country. The company believes that in addition to fund support, one of the best ways for corporate to fulfil their social responsibility is by offering their managerial skills to society. In line with this, the company manages two Institutes of Driving Training ; Research (IDTR) in Delhi and Maruti Driving Schools across country.

Through these facilities, the company has brought international standards in driving training and state of the art training infrastructure in the country. The first major step towards promoting road safety was in the year 2000 when Delhi Government invited the company to manage the Institute of Driving Training and Research (IDTR) and start driving training courses. The company introduced training facilities and infrastructure including world-class driving test tracks, advanced computer simulators and training modules as per international standards at the institute, which is spread over an area of 14. acres. Regular research in road safety and safe driving was also started at the institute. In 2006, the second IDTR was set up to promote road safety by primarily targeting non-commercial drivers and impart driving training to them. This institute is also equipped with the same facilities and infrastructure as made available in the first IDTR. Maruti Driving Schools The company has also involved its dealers across the country in promoting road safety and safe driving. In collaboration with them, the company has set up 43 Maruti Driving Schools in 38 different locations across the country.

These schools are equipped with world class, state of the art driving simulators offer training courses for beginners as well as refresher programs. Over 41,500 people have trained so far. Company will be deeply committed towards the welfare of its employees, their families and communities around its operations to improve quality of life as a whole. B) CSR by Maytas Infra Ltd. The growth and development of people is the highest calling of leadership. A mirror image of this is reflected in our Promoters’ initiatives. Byrraju Foundation

One of the foremost not-for-profit organizations in the country, Byrraju Foundation is committed to transforming the quality of life of the rural underprivileged. The Foundation seeks to build progressive and self-reliant rural communities, adopting a holistic approach. The aim is to transform people’s lives by extending them basic services like Healthcare, Sanitation, safe drinking water, Primary Education, Adult Literacy and training in Livelihood skills for both men and women. The use of technology and constant innovation are our chief differentiators.

Our processes innovatively combine global best practices, effective management systems and state-of-the-art technology. The Foundation is currently working in 199 villages across six districts of Andhra Pradesh, India, impacting 3 million rural lives. Emergency Management ; Research Institute Emergency Management and Research Institute (EMRI) is one among the global leaders in Emergency services dedicated to saving lives with a single objective: providing an organized, integrated, accessible ‘108 Emergency Response Service’ to an individual in need of emergency, be it medical, olice or fire in a timely manner. Pioneering the emergency services in Public-Private-Partnership mode, EMRI is the only organized, professional emergency service provider in the country today. Having launched the 108 Emergency Response Service on August 15, 2005 in Hyderabad, EMRI presently provides services in Andhra Pradesh, Gujarat and Uttarakhand with over 917 ambulances, 7,099 people and is saving 130+ lives a day. In a Public-Private-Partnership mode, EMRI plans to extend the 108 Emergency Response Service throughout India by 2010 and save a million lives per annum.

EMRI has also signed up with the Governments of Madhya Pradesh, Tamil Nadu, Rajasthan, Goa, Karnataka and Assam to launch the 108 Emergency Response Service in these states. II. Formulated CSR Ratings: Minimum necessary criteria: Necessary| Explanation| Rating Level| If undertaking any activity towards the welfare of its employees including improvement in work environment| If the company has undertaken any welfare measures for its employees and their families and also implemented various green methods or brought improvement in processes and products of the company. Level 1| Activities towards social community| If the company has done considerable work for the society and welfare of the people not directly related to it, i. e. healthcare, educational facility and work done for the upbringing of the poverty class. | Level 2| If undertaking any activity towards the welfare of environment| If the company is environment friendly in nature, produces products that are eco- friendly and does considerable work in protecting the environment and biodiversity. | Level 3| If undertaking any activity towards natural calamities| If the company has done something in the form of donation to charity etc. or the welfare of the people struck by natural calamity, terrorist attack or any emergency | Level 4| If undertaking any activity towards reducing depletion of natural resources and innovation of new ideas | If the company has done any noticeable work in protecting depleting natural resources like water-harvesting, deforestation etc or has come up with any new innovative idea to protect it or for the welfare of the society. | Level 5| Sufficient criteria for minimum rating: Sufficient criteria| Explanation| Rating level| Company fulfilling the basic needs of society through its products or services e. . manufacture of food| The products and services of the company are useful and benefit society| Level 1| Activity towards its employees| If the company is doing any activities for the welfare of its employees and their families| Level 1| Company reducing negative impact of others e. g. A company that makes water purification ; waste recycling systems| The company’s products or services provide solutions to mitigate harm caused by actions of companies, their products, etc| Level 1| Activity towards reducing the negative impacts (if any) of its products. If the company is doing any significant work to reduce the negative impact (if any) of its product. | Level 1| Spending on its turnover on sales| 0. 2% of its total turnover on CSR activity. | Level 2| Negative criteria: Negative criteria| Reasons| Rating level| Product not required for society| Companies that make liquor , tobacco that are not good for public health| Level 0| Companies destroying natural biodiversity| Companies that directly or indirectly hamper the bio diversity and whose products are harmful to the environment| Level 1| III. Analysis & Findings:

A) Maruti Suzuki India Ltd. : Karmayog Rating: 3/5 My Rating: 5/5 Justification: According to my criteria Maruti Suzuki India Ltd. practices all the activities required to reach level 5. It involves itself in employee welfare, community welfare like health care, greening of supply chain and road safety. The company has also done remarkable work in adopting energy saving technologies by introducing the three-coat one-bake system at its Manesar facilities which brings it upto level 5. On the other hand according to Karmayog rating criteria 2009 the company has fulfilled only till level 3 i. . activity towards local communities. B) Maytas Infra Ltd. : Karmayog Rating: 2/5 My Rating: 2/5 Justification: According to both the rating for this company is 2/5 which shows that Maytas Infra Ltd. involves itself in activities towards social welfare. It is committed to transforming the quality of life of the rural underprivileged by extending them basic services like Healthcare, Sanitation, safe drinking water, Primary Education, Adult Literacy and training in Livelihood skills for both men and women. *********

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Business Ethics and Corporate Governance

Course objectives-.

This paper aims to understand ethical issues in business and the role of Corporate Governance practices in maintaining transparency in business transactions. To highlight the importance of commitment to values and ethical conduct of business.

Course Outcomes(COs):

Introduction to Business Ethics: Meaning, Nature of Ethics, Ethical Concepts and Theories, Morals and Values, Importance and need of ethics in business, Kohlberg’s six stages of moral development(CMD)

Values – Importance, Sources of Value Systems, Types, Values across Cultures, Difference between values and ethics.

Managerial Ethics: CategoriesofmanagementmoralityEthicalProblems-Dilemma at Work-Sources , Resolutions, Corporate Ethical Leadership Whistle Blowing

Ethical Decisions: Concept, Ethical Decision Making, Ethical Dilemmas in Organization, Social Responsibility of Business.

Ethical Issues In The Functional Area: Concept, Ethics in Marketing , Ethics in Finance, Ethics in HR and Ethics in Information Technology

Environmental Ethics, Corruption And Gender Issues: Environmental Ethics, Corruption, Gender Ethics, Sexual Harassment and Discrimination

Corporate Governance : Meaning of Corporate Governance, Difference between Governance and Management, Purpose of Good Governance, Potential Consequence of poor CG, Governance risk and Financial Stability-The balancing of conflicting objectives.

Indian and Global Scenario: SarbanesOxleyActof2002,OverviewofAnglo-American,Japanese,German,modelsofCGReportsandrecommendationsofNarayanMurthyandGangulyCommittees

Strengthening Corporate Governance : Role and composition of the board, remuneration of directors and senior executives, Rights and responsibilities of shareholders, Ownership of independent directors

Corporate Social Responsibility(CSR): Introduction to CSR, Advantages and Scope, Indian Scenario, CG and CSR, Corporate governance rating

Suggested Readings:

• SKMandal(2011),EthicsinBusinessandCorporateGovernance,TataMcGrawHillPublishing Co. Ltd., NewDelhi.
• A.C.Fernando(2009),BusinessEthics:AnIndianPerspective,PearsonEducationIndia.
• DavidJ.Fritzsch(2004),BusinessEthics;aGlobalandManagerialPerspective,McGraw-HillIrwin,SingaporeRiyaRupani(2015),BusinessEthicsandCorporateGovernance,HimalayaPublishing
• MurthyC.S.V(2009),BusinessEthics,HimalayaPublishing.
• DanielAlbuquerque(2010),BusinessEthics:Principlesandpractice,OxfordUni.Press

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Trump Official Jeffrey Clark Broke Ethics Rules, DC Bar Says (1)

By Sam Skolnik

Trump Justice Department official Jeffrey Clark could lose his law license after a DC Bar panel found that he violated ethics rules in trying to overturn the 2020 presidential election.

DC Disciplinary Counsel Phil Fox said he will seek to have Clark disbarred after the panel’s preliminary ruling Thursday. The committee said Clark broke at least one lawyer ethics rule by lying about supposed election fraud in an effort to swing the election for Donald Trump.

The three-person committee’s decision is preliminary and non-binding. It came after a seven-day hearing in which Clark was accused of plotting a Justice Department “coup” to keep Trump in office in the days leading up to the Jan. 6, 2021 Capitol riot.

Clark argued in court filings that attorney discipline proceedings are being “weaponized” against Trump’s allies. His lawyer, Harry MacDougald, said in a closing argument Thursday that the case was “laden with political overtones.”

Clark faces a range of potential punishment, from a written warning to disbarment. Losing his law license could hamper Clark’s ability to win a high post in a second Trump administration.

The disciplinary process includes several more steps before any punishment is handed down.

The panel’s chair, Merril Hirsh, said it will make a formal decision after being fully briefed on the matter by both sides. Fox’s brief, the first to be filed, is due to the committee by April 29.

The case will move to the Board on Professional Responsibility, once Hirsh’s panel issues a report and recommendation. It then goes to the DC Court of Appeals.

‘Magical Thinking’

Fox has argued that Clark breached ethics rules by attempting to engage in conduct that would have “seriously” interfered with the administration of justice, and that involved dishonesty.

The case hinges largely on Clark’s Dec. 28, 2020 letter to Georgia state officials, in which he claimed to have identified “significant concerns” that may have affected the outcome of the 2020 presidential election in several states. Clark was thwarted from sending the letter by the top lawyers at the department at the time.

“This case is not about Mr. Clark having the wrong opinion,” Fox said in his closing argument. “What it’s about is his asserting facts of which there is absolutely no basis. And to try to put the weight of the United States Department of Justice behind those false assertions.”

Clark’s goal, said Fox, was “to take over the Department of Justice, in effect.”

“It doesn’t matter whether it was magical thinking, misplaced loyalty, personal ambition,” said Fox. “It’s conduct that violated the rules.”

MacDougald repeatedly described Clark’s December 2020 letter as a discussion draft that was never sent.

He said Fox’s references to the Capitol riot during the hearing were inflammatory and unfair. He urged the panel to focus on “what’s actually charged, and not these atmospherics that are extremely fraught and extremely laden with emotion and passion.”

“We’re not on trial for Jan. 6,” MacDougald said.

Former acting attorney general Jeffrey Rosen, and his then-deputy, Richard Donoghue, testified during the hearing. They said Clark violated DOJ policy by holding meetings in late 2020 and early 2021, without either of them in attendance, to discuss claims of election fraud.

Clark’s actions were “really way outside his lane,” Rosen said.

Clark asserted his Fifth Amendment right in response to questions from Fox during the hearing.

To contact the reporter on this story: Sam Skolnik in Washington at [email protected]

To contact the editors responsible for this story: Chris Opfer at [email protected] ; John Hughes at [email protected] ; Alessandra Rafferty at [email protected]

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