This document discusses corporate governance, ethics, and their importance for finance leaders in Asia. It covers the need for an effective governance framework to avoid accountability failures that result from weaknesses in governance and lack of ethics. These can lead to lost investments, confidence, jobs, and harm economies. The document recommends companies establish a code of ethics, train employees, protect whistleblowers, and foster an ethical culture to benefit staff motivation, reputation, and business performance. Strong governance and ethics positively correlate with being a good corporate citizen.
Ethics and Corporate Governance..
DEFINING GOOD GOVERNANCE
THE CHARACTERISTICS OF GOOD GOVERNANCE
NINE PILLARS – CORPORATE GOVERNANCE CODE FOR SMALL AND MEDIUM SIZED ENTERPRISES
FIVE STEPS TO IMPROVE CORPORATE GOVERNANCE
Why is good governance important?
Ethics and Corporate Governance..
DEFINING GOOD GOVERNANCE
THE CHARACTERISTICS OF GOOD GOVERNANCE
NINE PILLARS – CORPORATE GOVERNANCE CODE FOR SMALL AND MEDIUM SIZED ENTERPRISES
FIVE STEPS TO IMPROVE CORPORATE GOVERNANCE
Why is good governance important?
What is Social Responsibility
Contrast the classical and socioeconomic views of social responsibility.
Discuss the role that stakeholders play in the four stages of social responsibility.
List and explain the arguments for and against social responsibility.
Differentiate between social obligation, social responsiveness, and social responsibility.
Social Responsibility and Economic Performance
Explain what research studies have shown about the relationship between an organization’s social involvement and its economic performance.
What is Social Responsibility
Contrast the classical and socioeconomic views of social responsibility.
Discuss the role that stakeholders play in the four stages of social responsibility.
List and explain the arguments for and against social responsibility.
Differentiate between social obligation, social responsiveness, and social responsibility.
Social Responsibility and Economic Performance
Explain what research studies have shown about the relationship between an organization’s social involvement and its economic performance.
Feature article Governance in practiceFeature article Governan.docxssuser454af01
Feature article Governance in practiceFeature article Governance in practice
• A cultural environment
in which people feel
not only safe to speak
up but expected to, is
essential to achieving
an organisation’s
governance objectives.
• Every member of your
team needs to be held
accountable for doing
their part to protect
the interests of the
organisation and its
stakeholders.
• Inspire people to
want to behave with
integrity and contribute
to the full extent of
their potential, and
governance standards
are likely to be
achieved.
Ego, greed, power, risk
taking, responsibility,
morality … the reasons
people break the rules
and fail to meet expected
ethical standards are
varied and at times
complex. Influencing
the way people choose
to behave is essential to
any organisation’s ability
to meet its governance
obligations.
In Australia, the link between
culture and governance is firmly
on the minds of the regulators. The
Australian Securities and Investments
Commission (ASIC) has in recent years
brought an especially strong focus
to bear on organisational culture
and its influence on how employees
behave. Both ASIC and the Australian
Prudential Regulation Authority (APRA)
have emphasised corporate culture as
a key area of risk.
The link between poor culture and
poor conduct has driven both
regulators to actively review company
practices linked to culture. Critical
decisions including incentives
payments and other rewards are of
particular concern. Whistleblowing
policies and complaints processes
have also been under the microscope.
Misconduct in the financial services
industry provides recent example
of the impact of poor organisational
cultures on risk, compliance and
organisational performance. In April
2015 top executives from Macquarie,
ANZ, NAB and CBA faced a Senate
inquiry to respond to questions about
their financial planning and wealth
divisions. The Australian Financial
Review reported at the time, that the
financial planning scandal at CBA alone
led to ‘thousands of clients losing
hundreds of millions in retirement
savings from receiving inappropriate
financial advice.’
These cases and others like them
have drawn intense public criticism
of perceived lack accountability for
behaviour at all levels of business.
Customers and shareholders alike,
expect leaders to create corporate
cultures that ensure their interests and
rights are protected. The pressure is
on for boards and senior leaders to not
only achieve superior financial results,
but to ensure approaches taken are
both ethical and prudent.
Desirable culture
A cultural environment in which
people feel not only safe to speak
up but expected to, is essential to
achieving an organisation’s governance
objectives. Just as important is
for people to have a deep sense
of personal accountability and the
courage to stand up for what is right.
Reflect for a moment on the cultural
environments you ...
In this PPT You all will find "Business ethics and law" in brief chapter wise.
Introduction–Ethics & Business Ethics
The Concepts of New Ethics
Values and Ethics
Development of Ethical Corporate Behavior
Ethical leadership
Ethical Decision Making
Ethical Dilemmas in Organization
Social Responsibility of Business
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