Nobody downloaded yet

Law, Governance, Regulation and Ethics - Essay Example

Comments (0) Cite this document
The concept of ethics in corporate governance is one which holds several issues and questions in terms of what the governance should be. In the case study that is displayed in the movie “Wall Street,” there are questions about ethical situations and what constitutes the actions which one should take…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER92.9% of users find it useful
Law, Governance, Regulation and Ethics
Read TextPreview

Extract of sample "Law, Governance, Regulation and Ethics"

Download file to see previous pages The first issue raised in “Wall Street’ is based on the ethics which are broken throughout the film. The ethics that are associated with the movie include gathering confidential information about the stock market. This is done not only by obtaining illegal information but also includes breaking into offices and taking confidential information. This is first done by Gekko and is later followed by Fox with the desire to move up with his placement in the corporate world. The approach which is taken is one which is based on a combination of legalities and ethics. According to the law, there are requirements with confidentiality that are put into place. This is to protect businesses with privacy and from unfair deals which may occur without the companies knowledge. This is followed by private property rights which make it unconstitutional for an individual to take information. By breaking these ethical considerations, there is a break in both government and corporate regulations while harming others that are a part of the main process for obtaining information (Nelson, 2005: 3). The concept of ethics on a legal basis is important to note because it combines with individual behaviors, legalities and responsibility that is a part of the corporation. The work of Fox becomes important because he is a representative of the company which he works for. When he takes the private information through illegal information it causes him to be a representative of the company, leading to a direct overlap between ethics and corporate governance (Mullerat, 2010: 48). However, this becomes misunderstood as his actions lead him to a raise and as one of the best performers of the institute. More important, the response from the country which has gained prestige in the market is interested in hiring Fox after his sentence because of the work which he has done. The actions taken by the corporations reflect directly in the understanding of what it means to be legally responsible and to be honest and fair in different dealings. The actions taken with the main characters show that there isn’t an understanding of the ethical responsibilities of individuals as well as how this reflects in the corporation. The importance of the private interactions and the association with the ethical considerations with governance is important to note because of how it affects others who are a part of the company. This becomes the main battle that is associated with ethics. From the viewpoint of both Gekko and Fox, there is the belief that “greed is good.” However, there are also others who are harmed from this, including the reputation of the businesses, the customers who respond to the dealings and the others who have to pay for the information which is taken and the deals which follow. The concept of corporate citizenship becomes the main component with the actions taken. This states that an individual who is in a business is not only responsible for making money or representing the company. The information which is taken, actions which are violated and the unfair dealings reflect directly with the citizen relationships and how others are affected. The corporate governance is one which leads to individuals having a sense of responsibility toward the company, stakeholders, customers and others affiliated with the business. If the ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Law, Governance, Regulation and Ethics Essay Example | Topics and Well Written Essays - 1000 words”, n.d.)
Retrieved from
(Law, Governance, Regulation and Ethics Essay Example | Topics and Well Written Essays - 1000 Words)
“Law, Governance, Regulation and Ethics Essay Example | Topics and Well Written Essays - 1000 Words”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Law, Governance, Regulation and Ethics

Governance Regulation and Ethics

...?Task The concept of consumer protection and regulations based on relationships with consumers becomes a main obligation of businesses. The corporate social responsibility that applies to this is based on the focus of offering the best protection to consumers as a social obligation while ensuring that there are initiatives and responsibilities taken for consumer protection. In “Civil Action,” there is a question of the governance taken, specifically because the actions of a company don’t offer consumer protection or environmental concerns with the main actions. The questions which are presented are inclusive of relationships with consumers that are put into question and which lead to complexities among...
11 Pages(2750 words)Essay

Governance, Regulation and Ethics

...?Governance, Regulation and Ethics Wall Street movie belongs to the category of prophetic films. This film is a jest about greedy and unethical business world. The motto of the main hero, a self-centered greedy businessman, Gordon Gekko (M. Douglas) is the following: “Greed is Good” (Wall Street Movie Synopsis). This man is a corporate raider and there is hardly something sacred for him. He is followed by Bud Fox (Charlie Sheen) who is young and craving for money and fame (Weiser, 2008). Fox joins greedy Gekko and tries to copy his actions and ruins his inner world. Fox quickly gets used to rape, murder and follow no ethical principles. Finally, going up a career ladder...
4 Pages(1000 words)Essay

Accounting,corporate governance and ethics

...). The chief ethical difficulty that faces most accountants today is what constitutes a full and timely disclosure (Duska & Duska 7). The accounting profession has seen a lot of corporate scandals which had spoiled its sterling professional image in which countless individuals lost their lifetime savings. It has been as a reaction to these scandals that laws were passed to strengthen the standards of the profession to avoid repeating the same mistakes and as additional safeguards for investors. Regulators, lawmakers, accounting professionals and policy makers had scrambled to draft these new rules and regulations to impose higher standards in the profession but...
7 Pages(1750 words)Essay

Governance Regulation and Ethics

...? Governance Regulation and Ethics By of Governance Regulation and Ethics Introduction There are government rules and regulations that govern consumer transactions. These rules are meant to protect consumers from exploitation by unscrupulous manufacturers and suppliers. This means that government intervenes in the contractual freedom of parties and imposes regulations on the dealing between suppliers or manufacturers and consumers. This is premised on the fact that the manufacturers have a higher bargaining power as compared to the consumer and in such a position the consumers are vulnerable and exposed to exploitation (Halbert, Ingulli 2003, p.94). Consumer transaction the seller is well informed and consumer on the other hand... are...
5 Pages(1250 words)Essay

Ethics and Governance

...any organization trips over this fine balancing act, and some groups scream ‘foul’as their interests are hurt and if they gather sufficient power and even the attention of the government, law and media then the organization is blamed for unethical practices. III) Corporate Governance Failures-an Evaluation According to the International Federation of Accountants, USA: Corporate Governance failures has been investigated in terms of the role of the chief executive, the role of the board of directors, executive compensation and the culture and ethics of the top management and these factors have been found to be interrelated. The table below summarizes the...
6 Pages(1500 words)Essay

Law, Ethics, and Corporate Governance

..., a contractual obligation can arise on a verbal commitment, but there is no way to substantiate the claim in case either party backs down. Thus it is safe to say that a contractual agreement has not taken place between the dealer and the customer. Therefore it is not a binding offer on the part of the dealer. However, sales’ ethics implies that if a verbal offer is communicated to a customer, it should be honored. The whole premise of marketing and sales revolves around ethical communication, and on those grounds, the dealer should stick to his word. Again, its not compulsory in the eyes of law, but business ethics dictate that the deal should be honored. Question...
4 Pages(1000 words)Assignment

Corporate governance, reporting and regulation

...Corporate governance, reporting and regulation Contents Introduction 3 2 Independent directors 3 3 Role and responsibilities of independent directors 4 4 Impact on organisational performance 5 5 Conclusion 7 6 Reference 8 1 Introduction The performance of the company largely depends upon the strategic decisions and policies of the organisations. The main strategic decisions and the policies regarding the objectives of the company and ways in which they can be implemented are decided by the board of directors. The board comprises of the chair person, executive directors, non executive directors and independent directors. The appointments of independent directors are mainly done from the point of view of...
6 Pages(1500 words)Essay

Marketing Ethics and Regulation

...Marketing Ethics and Regulation Every marketing decision is just not about being able to reflect a message about a certain brand or product and making a sale. The primary purpose of marketing is to be able to help consumers to be able to provide for their needs in the highest possible manner. Thus, once this is achieved, it is called a successful marketing. However, there are a lot of things people need to know and consider to be able to make this possible. One of the most important guidelines in doing so would come from the code of ethics. Code of ethics is a list of guidelines and regulations that would direct any marketer to make the right decisions...
2 Pages(500 words)Essay


...allegedly covered up with new deposits for which no records were maintained. Therefore, there were also many companies who were involved in the shams like Enron. These were Polly Peck, WorldCom, Barings Bank, Parmalat, and Olympus. All these companies were also involved in fraudulent acts besides Enron. Development made by the regulators The following developments were made by the regulators for curbing the financial crisis that had affected the economy worldwide. The Cadbury report was prepared to make the corporate governance of U.K. clearer. They highlighted on three areas of the existing system which needed to be improved. These were: Auditing The Board of directors The...
8 Pages(2000 words)Essay


...Regulation, Compliance and Governance Failure in Corporate Governance Corporate governance can be defined as a set of processes, rules and practices that is followed by companies for controlling or directing their operations. It aims at balancing interests of the management and shareholders of a company by separating the ownership and control function. Effective corporate governance is seen to greatly enhance the outcome of a business. On neglecting this aspect, companies have faced even bankruptcy. There are several examples of corporate governance failure. The two major examples in this case are that of Enron Corporation and Northern...
8 Pages(2000 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Law, Governance, Regulation and Ethics for FREE!

Contact Us