Corporate Governance and Business Ethics discusses the importance of ethics in business. It defines business ethics as applying moral principles to business decisions and relationships. Maintaining ethical practices is important for building trust with stakeholders and encouraging productivity and talent retention. Unethical conduct can arise from pressures like unrealistic objectives or competition but ethical companies consider impacts on communities, equality and sustainability. The document examines the role of ethics in corporate governance and relationships. It provides examples of companies with strong ethics like Patagonia as well as those involved in misconduct like Volkswagen. Overall it emphasizes that good governance requires upholding values through vision and conduct standards.
Role of board of directors -Corporate GovernanceRehan Ehsan
This Presentation states the role of board of directors in respect of corporate governance of Pakistan. Reviewing this clear the concept of their legal role in Pakistan.
Role of board of directors -Corporate GovernanceRehan Ehsan
This Presentation states the role of board of directors in respect of corporate governance of Pakistan. Reviewing this clear the concept of their legal role in Pakistan.
OBJECTIVES OF CORPORATE GOVERNANCE
● To enhance long term Shareholders value
● To Protect shareholders interest
● To conduct the affairs of the company in a manner that ensure
fairness to customers, employees, investors, vendor. government
etc.
● To Maximize shareholders value
● To build up confidence and increasing the thrust of stakeholders
● To enhance efficiency and effectiveness through fair and transparent means
● To shape the growth and the future capital market
● To Minimize securities scam
OBJECTIVES OF CORPORATE GOVERNANCE
● To enhance long term Shareholders value
● To Protect shareholders interest
● To conduct the affairs of the company in a manner that ensure
fairness to customers, employees, investors, vendor. government
etc.
● To Maximize shareholders value
● To build up confidence and increasing the thrust of stakeholders
● To enhance efficiency and effectiveness through fair and transparent means
● To shape the growth and the future capital market
● To Minimize securities scam
In this lesson you learned that Ethics concerns standards of right and wrong. You learned that Business ethics concerns the application of ethical principles to the actions and decisions of companies and the conduct of personnel. You also learned that Corporate Social Responsibility and the Triple Bottom Line performance measures are good ethical frameworks.
101 Unit 5: Business ethics,
in this paper I have coved ;
1. Unit summary
2.Learning outcomes
3. Terminologies related to business Ethics
4. Differences between Business Ethics and Personal Ethics.
5. Benefits of Effective Governance and Managerial Ethics.
This presentation is about ethics used in organizations. this a group presentation in which first 10 slides are made by me and other part is done by my team members.hope u like it !!!!
Understanding the Importance of Business Ethics.pdfTEWMAGAZINE
In today's interconnected and globalized world, the concept of business ethics has emerged as a cornerstone of corporate governance and organizational culture.
Understanding the Importance of Business Ethics.pdfTEWMAGAZINE
Berkshire Hathaway made notable adjustments to its investment portfolio, shedding a portion of its substantial stake in Apple while divesting from four other common stock holdings.
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WINDING UP of COMPANY, Modes of DissolutionKHURRAMWALI
Winding up, also known as liquidation, refers to the legal and financial process of dissolving a company. It involves ceasing operations, selling assets, settling debts, and ultimately removing the company from the official business registry.
Here's a breakdown of the key aspects of winding up:
Reasons for Winding Up:
Insolvency: This is the most common reason, where the company cannot pay its debts. Creditors may initiate a compulsory winding up to recover their dues.
Voluntary Closure: The owners may decide to close the company due to reasons like reaching business goals, facing losses, or merging with another company.
Deadlock: If shareholders or directors cannot agree on how to run the company, a court may order a winding up.
Types of Winding Up:
Voluntary Winding Up: This is initiated by the company's shareholders through a resolution passed by a majority vote. There are two main types:
Members' Voluntary Winding Up: The company is solvent (has enough assets to pay off its debts) and shareholders will receive any remaining assets after debts are settled.
Creditors' Voluntary Winding Up: The company is insolvent and creditors will be prioritized in receiving payment from the sale of assets.
Compulsory Winding Up: This is initiated by a court order, typically at the request of creditors, government agencies, or even by the company itself if it's insolvent.
Process of Winding Up:
Appointment of Liquidator: A qualified professional is appointed to oversee the winding-up process. They are responsible for selling assets, paying off debts, and distributing any remaining funds.
Cease Trading: The company stops its regular business operations.
Notification of Creditors: Creditors are informed about the winding up and invited to submit their claims.
Sale of Assets: The company's assets are sold to generate cash to pay off creditors.
Payment of Debts: Creditors are paid according to a set order of priority, with secured creditors receiving payment before unsecured creditors.
Distribution to Shareholders: If there are any remaining funds after all debts are settled, they are distributed to shareholders according to their ownership stake.
Dissolution: Once all claims are settled and distributions made, the company is officially dissolved and removed from the business register.
Impact of Winding Up:
Employees: Employees will likely lose their jobs during the winding-up process.
Creditors: Creditors may not recover their debts in full, especially if the company is insolvent.
Shareholders: Shareholders may not receive any payout if the company's debts exceed its assets.
Winding up is a complex legal and financial process that can have significant consequences for all parties involved. It's important to seek professional legal and financial advice when considering winding up a company.
RIGHTS OF VICTIM EDITED PRESENTATION(SAIF JAVED).pptxOmGod1
Victims of crime have a range of rights designed to ensure their protection, support, and participation in the justice system. These rights include the right to be treated with dignity and respect, the right to be informed about the progress of their case, and the right to be heard during legal proceedings. Victims are entitled to protection from intimidation and harm, access to support services such as counseling and medical care, and the right to restitution from the offender. Additionally, many jurisdictions provide victims with the right to participate in parole hearings and the right to privacy to protect their personal information from public disclosure. These rights aim to acknowledge the impact of crime on victims and to provide them with the necessary resources and involvement in the judicial process.
Introducing New Government Regulation on Toll Road.pdfAHRP Law Firm
For nearly two decades, Government Regulation Number 15 of 2005 on Toll Roads ("GR No. 15/2005") has served as the cornerstone of toll road legislation. However, with the emergence of various new developments and legal requirements, the Government has enacted Government Regulation Number 23 of 2024 on Toll Roads to replace GR No. 15/2005. This new regulation introduces several provisions impacting toll business entities and toll road users. Find out more out insights about this topic in our Legal Brief publication.
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You can rely on our assistance if you are ready to apply for permanent residency. Find out more at: https://immigration-netherlands.com/obtain-a-permanent-residence-permit-in-the-netherlands/.
Military Commissions details LtCol Thomas Jasper as Detailed Defense CounselThomas (Tom) Jasper
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Get insights into DNA testing and its application in civil and criminal matters. Find out how it contributes to fair and accurate legal proceedings. For more information: https://www.patronslegal.com/criminal-litigation.html
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Precedent, or stare decisis, is a cornerstone of common law systems where past judicial decisions guide future cases, ensuring consistency and predictability in the legal system. Binding precedents from higher courts must be followed by lower courts, while persuasive precedents may influence but are not obligatory. This principle promotes fairness and efficiency, allowing for the evolution of the law as higher courts can overrule outdated decisions. Despite criticisms of rigidity and complexity, precedent ensures similar cases are treated alike, balancing stability with flexibility in judicial decision-making.
Responsibilities of the office bearers while registering multi-state cooperat...Finlaw Consultancy Pvt Ltd
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The process of register multi-state cooperative society in India is governed by the Multi-State Co-operative Societies Act, 2002. This process requires the office bearers to undertake several crucial responsibilities to ensure compliance with legal and regulatory frameworks. The key office bearers typically include the President, Secretary, and Treasurer, along with other elected members of the managing committee. Their responsibilities encompass administrative, legal, and financial duties essential for the successful registration and operation of the society.
2. Introduction
Every organization, as they grow has many stakeholders like shareholders, employees,
customers, vendors, community, etc. For survival and growth, they have to rely upon
healthy relations with all these stockholders.
Hence organizations need to provide good returns for shareholders but also good jobs for
employees, reliable products for consumers, responsible relations with the community and
a clean environment.
Business ethics is the application of general ethical principles to business dilemmas and
encompasses a broader range of issues and concerns than laws do, as everything that is
legal is not ethical.
3. Meaning of Business Ethics
Business ethics is a kind of applied ethics. It is the application of moral or ethical norms to
business.
Ethics is a set of principles or standards of human conduct that govern the behaviour of
individuals or organization. Ethics can be defined as the discipline dealing with moral
duties and obligation, and explanation what is good or not good for others and for us
Business ethics comprises the principles and standards that guide behaviour in the conduct
of business. Businesses must balance their desire to maximise profits against the needs of
the stakeholders. Maintaining this balance often requires trade-offs. To address these
unique aspects of businesses, rules- articulated and implicit are developed to guide the
businesses to earn profits without harming individuals or society as a whole.
4. Importance of Business Ethics
Ethical is all about developing trust maintaining it fruitfully so that the firm
flourishes profitably and maintain good reputation. Trust leads to predictability
and efficiency of the business.
Trust is used as a indicator variable of ethics. Basically Trust is three dimensional
i.e., Trust in customer relationships, Trust in supplier relationships and employee
relationships
Business ethics makes the employees want to stay with the business, reduce
labour turnover and therefore increase the productivity. This also reduce the
recruitment costs and enable the company to get the most talented employees.
5. Need of Business Ethics
The business unit needs to follow the ethics of business because business ethics
involves:
The need of Compliance of legal enactments, principle of morality and customs
of community together with policy of the company.
The Contribution which business makes towards the society by providing goods,
services and employment, creating wealth, carrying out social and welfare
activities.
Bearing the Consequences of business activities towards environment, various
stakeholders and good public image.
An organization had to follow these 3 Cs of the business ethics for its existence in
long run.
6. Corporate Governance Ethics
Corporate governance is the complete set of policies and procedures; rules and conduct framed for the
purpose of directing and controlling the business activities. Corporate governance ethics are ethical
behaviour in the context of corporate governance. Some instances of ethical behaviour are
Working with honesty and integrity, avoiding all conflicts arising due to personal and professional
relationships.
Acting in good faith, with due caution and care, fulfilling all responsibility given at any level of
management.
To make responsible use of the resources provided at work place.
To ensure punctuality and diligence in every aspect of work taken in hand.
Maintain the confidentiality of the information of one‘s workplace. It should neither to be disclosed to an
outsider nor to be used for personal benefit.
Furnishing all the required documents and reports in time with accurate, complete, relevant information.
Compliance of law of the land, rules and regulation which are framed by different level of government
and regulating body
7. Role of Business Ethics in Corporate
Governance
The role of Business Ethics in corporate governance refers to the manner in
which ethics is applied during the process of running or administering the
organization.
To this end, business ethics in corporate governance can be applied in the way
the management of the organization, which may be a business concern or a
government, deals with both internal and external issues.
Instances :
business ethics in corporate governance is the way in which the management of
a company deals with the issue of the selection of employees
Business ethics in corporate governance can also be seen in the manner of
remuneration that the company uses to compensate the employees for their
services to the organization.
8. Role of Business Ethics in Corporate
Governance
Business ethics in corporate governance can also be seen in the manner in which
the management of a company relates with individuals and external businesses,
such as distributors, consumers and business partners.
It may also be applied to the manner in which a company relates with host
communities and the society at large.
One of the ethical considerations that the management of an organization must
necessarily address is the issue of responsible corporate behaviour, including
topics like giving back to the community and ensuring that they do not pollute the
environment unnecessarily.
9. Causes of Unethical Conduct in an
Organization
Pressure to meet unrealistic objectives and
deadlines.
Increase in Acute Competition
Economic Greed
Information of unethical acts through media
Pressure to Earn profit
Lack of management support or poor leadership.
10. World’s Most Ethical Companies
Patagonia
Based In: California, United States
Ethics: Organic cotton, environmental sustainability, Fair Trade certificate
Known For: Outdoor apparel, swimwear
Kellogg’s
Based In: Michigan, United States
Ethics: Supports farmers, reduces food loss & waste, low-impact packaging
Known For: Cereal, crackers, pastries.
IBM
Based In: New York, United States
Ethics: Renewable energy, gender equality, responsible production
Known For: Hardware, software, consulting
Allianz Group
Based In: Munich, Germany
Ethics: Clean energy, low-carbon economy, human rights
Known For: Insurance, asset management
11. World Most Ethical Companies
PepsiCo
Based In: New York, United States
Ethics: Racial equality, sustainable agriculture, pay equity, sustainable plastics
Known For: Grain-based snack foods, beverages.
Tradlands
Based In: California, United States
Ethics: Natural & sustainable materials, ethical practices, recycles leftovers
Known For: Women’s apparel.
Important Note : In 2021 , Three Indian companies have been awarded for being the most ethical
companies by Ethisphere. And the companies are
Infosys
Wipro
Tata Steels
12. Companies with Unethical Business
Practices
Examples of least ethical companies as voted for by Ethical Consumer readers
were:
1. Nestle
Nestle is subject to the world's longest running boycott for the irresponsible
marketing of baby milk to mothers in the developing world. The company has also
been criticised for a number of other businesses practices including the use of
unsustainable palm oil and genetically modified ingredients in its foods.
2. Volkswagen
Almost everyone is familiar with one of the latest cases of corporate misconduct:
the Volkswagen emissions scandal. The company admitted to having installed
software that manipulated emissions readings to make its cars appear as if they
were environmentally friendly.
3. Nike
In the past, Nike has been accused of using child labour and supposedly nurturing
sexual harassment and discrimination cultures. Plus, its factories are not
independently monitored by labour rights groups.
13. Concluding Remarks
Good corporate governance goes beyond rules and regulations that the government can put in
place.
It is also about ethics and the values which drive companies in the conduct of their business. It
is therefore all about the trust that is established over time between companies and their different
stakeholders.
Good corporate governance practice cannot guarantee any corporate failure. But the absence of
such governance standards will definitely lead to questionable practices and corporate failures
which surface suddenly and massively.
In making ethics work in an organization it is important that there is synergy between vision
statements, mission statements, core values, general business principles and code of conduct
confers a variety of benefits.
An effective ethics programme requires continual reinforcement of strong values. Organizations
are challenged with how to make its employees live and imbibe the organization codes and
values. To ensure the right ethical climate a right combination of spirit and structure is required.