Business Ethics and Corporate Governance
Business Ethics and Corporate Governance
Contents
Introduction
Background of Company
Analysis of Corporate Governance from an Ethical perspective
Human nature
Greed.
Corporate governance
Good corporate governance
The frame work for corporate governance procedures and policies
King III Principle 2.3: Corporate governance requires the Board to ensure that the company is run ethically
King III – Principle 2.4: The Board should cultivate and promote an ethical corporate culture
Ethics.
Business Ethics
Myth unethical conduct is not serious
Ethics and corporate reputation
Ethics in relation to corporate governance
Concept of an Ethical Officer (EO)
An analysis of Sekunjalo and their decisions based on the terms and concepts defined
Conclusion and Recommendations
Introduction
From an economic perspective, individuals prefer to pursue their own interests to try and increase their own wealth through trading and entrepreneurship as opposed to benefit the society at large. However the actions of these individuals promote the interests of the society at large even though it was not their intention. This phenomenon is characteristic of the invisible hand that affects the market mechanism in such a way the government does not have to intervene to guide the economy of country (Mohr & Fourie, 2011, p. 30). From corporate governance perspective corporations that have experienced financial failure and collapse resulted from companys main objective to accumulate wealth and profit without keeping proper internal control over their finances and other aspects of business (Thompson, 2011, p. 2).
This assignment will analyse the ethical aspect relating to business ethics and corporate governance principles based on the decisions and actions taken by the board of directors of the company Sekunjalo Consortium. The reason for this is to determine whether Sekunjalo Consortium is a good responsible corporate citizen.