Corporate Governance and Ethics Essay - 1498 Words

As a CEO of a corporation there is nothing more rewarding then maximizing the wealth of your shareholders, in addition, to increasing the value of the firm. However, it should not be done unethically and jeopardize the financial, social status as well as the reputation of the company, ultimately causing them to suffer in the end. There are systems put into place to avoid such acts that are generally overseen by the board of the directors of organization. In most companies the board of directors consists of shareholders or former employees of the company. Due to the recent scandals in corporate America many companies have acted quickly in actually implementing rules and regulations. They are sometimes referred to as the ethical codes.†¦show more content†¦Women are known to be a bit more â€Å"sensitive† than a man, therefore she’ more opted to working or dealing with charitable events due to their dire need of help. I am not implying that companies headed by women are more or least successful than one headed by a man. I am simply implying that they will do better in the â€Å"social responsibility aspects of the big picture. Ethical codes are normally adopted by corporation to help set forth the moral structure of a company. They are often set up to help organizations to make the â€Å"right† decision in certain situations. Ethical codes generally has three different levels (Wikipedia, 2011), code of ethics (corporate and business ethics), code of conduct (employee ethics), and code of practice (professional ethics). Code of ethics is defined as the general principals of an organization that summarizes their beliefs (QFinance – The Ultimate Resource, 2009). Rodriquez-Dominquez, Gallego-Alvarez, and Garcia-Sanchez (2009) state â€Å"recent corporate scandals have demonstrated the need to create internal codes of conduct and apply them to the members of the board of directors and top management in order to uphold the reputation, ethical behavior and integrity of the company†. (p.187) According to (Rodriquez-Dominquez, 2009), recent research has shown a positive correlation  "between corporate social responsibility and several characteristics of corporate governance†. The results also showShow MoreRelatedThe Ethics Of The Corporate Governance1564 Words   |  7 Pages The Corporate Governance refers to the mechanisms, rules and regulations in which companies and governing bodies are put into task on various occurrences under their performance. It can be said to be a guideline which directs how companies achieve their objectives and more so how these objectives are set. 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