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Successful Leadership: Corporate Governance Principles and Recommendations - Assignment Example

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The main objective of this assignment "Successful Leadership: Corporate Governance Principles and Recommendations" is to outline the rules of business ethics and its practical use in leadership. Therefore, the writer discusses the concept of ethical culture from a management point of view…
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Successful Leadership: Corporate Governance Principles and Recommendations
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Download file to see previous pages While employees may have theoretical knowledge about ethics, its application in practical situations could only be determined by business ethics.
(a) An ethical issue is an issue that arises out of the performance, or non-performance of an act that is underpinned by ethical considerations. For instance, the taking of bribes by a public servant could be said to be a major ethical issue. A real-life example would be the case of a Fulton county Georgian erosion control inspector, DM, 57, who pleaded guilty in Federal District Court for soliciting and receiving cash bribes from a contractor whose work this inspector was checking for the county. 1
(b) Coming next to an ethical dilemma, it could be seen that an ethical dilemma would arise when the protagonist has to exercise a choice between two or more equally challenging alternatives. An example of an ethical dilemma in business is when a dishonest, independent auditor of the company threatens to reveal secret documents to the public unless he is paid a large sum of money. In such a case, the management has only two options, either to pay up or face the consequences brought about by the auditor. Going to the police, or informing investigating authorities would compromise the trade secrets of the company, which could cause harm in the long run.
(a) The shareholders of the company are the people who have invested funds in the business, whereas stakeholders are people to whom the company may be in debt, namely, creditors, bankers, employees, internal revenue services, etc. When seen from a stakeholders’ perspective, top employees are induced to accept employment offered not only in terms of the salary scales or perquisites but also in terms of the ethical character of the employers. ...Download file to see next pagesRead More
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