Having viewed the video, "The Future of Corporate Governance," you might question how corporate governance can better serve an organization 's commitment to being ethical and acting legal. After all, most of the organizations which were "guilty" of financial and accounting mismanagement had corporate governance. But in some instances, the system of corporate governance was tainted by conflicts of interest, personal greed, and so on. So, in addition to what you learned in the video, what is the future of corporate governance?
Discuss the future of corporate governance. Do you think the government (at all levels) will need to be stronger in regulating what a corporation can and cannot do? Will that increased intervention (some might call …show more content…
What it 's most disturbing about this scenario is that the SEC chairperson knew and chose not to tell other commissioners. Even the government does not play by ethical rules.
The lack of two-way communication between the leadership and his or her managers and employee 's legal norms go out the window. In an interesting blog I read by Macaray, (2013), the title says it all "We Need More Government Regulation of Businesses…Not Less" He goes on to give an example, of Upper Big Branch Coal Mine in West Virginia, owned by Massey Energies; in 2010 twenty-nine "non-union" employees live 's perished from an explosion caused by unsafe conditions including an accumulation of inflammable gas and other safety concerns.
The author goes on to explain that if the workers were part of a union, there is no way such tragedy could 've happened. Unions protect their employees, well most of the time. Massey Energies deflected government inspectors by having two sets of books. There was the one set of records that showed that Massey 's complied with all the rules and legal regulations set by the government; and a second set kept away from the eyes of the inspectors that kept raw data on what really was happening in the company, including the deplorable condition of the
Discuss the future of corporate governance. Do you think the government (at all levels) will need to be stronger in regulating what a corporation can and cannot do? Will that increased intervention (some might call …show more content…
What it 's most disturbing about this scenario is that the SEC chairperson knew and chose not to tell other commissioners. Even the government does not play by ethical rules.
The lack of two-way communication between the leadership and his or her managers and employee 's legal norms go out the window. In an interesting blog I read by Macaray, (2013), the title says it all "We Need More Government Regulation of Businesses…Not Less" He goes on to give an example, of Upper Big Branch Coal Mine in West Virginia, owned by Massey Energies; in 2010 twenty-nine "non-union" employees live 's perished from an explosion caused by unsafe conditions including an accumulation of inflammable gas and other safety concerns.
The author goes on to explain that if the workers were part of a union, there is no way such tragedy could 've happened. Unions protect their employees, well most of the time. Massey Energies deflected government inspectors by having two sets of books. There was the one set of records that showed that Massey 's complied with all the rules and legal regulations set by the government; and a second set kept away from the eyes of the inspectors that kept raw data on what really was happening in the company, including the deplorable condition of the