Business Ethics: The Importance Of Corporate Governance In Business

920 Words 4 Pages
Corporate governance is the way a corporation polices itself. It is the one of method governing the company such as a sovereign state, instating its own customs and laws to its employees from highest to lowest level. The corporate governance is to increases the accountability of the company and to avoid bad things happen. Well executed corporate governance should similar to a police departments internal. The company also hold meetings with internal members, such as shareholders and debt holders, suppliers, customers and community leaders to address the request and needs of the affected parties.
First accountability in corporate governance is the strict adherence to business ethics on the professional level. It is the primary responsibilities
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However minor shareholders give some impact to stock price that brushed aside for the major shareholders and executive board. The purpose of the good corporate governance is to make sure that all of shareholders can give the opinions.
The importance of the business ethics in a company, they need to spend less protecting themselves from internal and external behavioral risks, especially when supported by sound governance systems and research. In business, partnerships also the one of the governance. Effort is the importance things in the business. It happen all in the time because it is ultimately of great importance to the bottom lines of business. The business can successful if they combine the forces of two or many extremely powerful companies.
The company can success when both of partnership have the good reputation in terms of track record and business. The best way to get a good reputation is to ensure that your company has a strong tradition of ethical business
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The leaders in organization can direct guide employees in making decisions that are not only beneficial to them as individuals but also to the whole organization. The good ethics helps create long lasting positive effects for a company. It also ability to attract and retain highly talented individuals and building and maintaining a positive reputation. Running a business in a good ethics can builds a stronger bond between individuals on the management team and create stability in company.
After that, the employee must follow the steps when the manager leading the organization in an ethical manner. Employees need to make good decisions in short time with business ethics as guiding principle. This can increase productivity and overall employee’s moral. When the employee can complete their works in a way that based on honestly and integrity the whole organization get the benefits. Employees who work for corporation that demands a high standard of business ethics more likely to perform their job duties at a higher level and are also more inclined to stay loyal to that

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