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Discussion Questions( corporate governance& ethics)
Pages 8 (2008 words)
The popular Capitalistic interpretation of business is extended in terms of profits and stock prices merely. Infact such shallow notions about business severely undermine the importance and contribution of business in the social and economic life. As any other field of endeavor, businesses do require ethics and values (Ferrell, Fraedrich and Ferrell, 2008: 18).
Businesses subscribing to ethical behavior tend to gain tangible rewards in the sense that ethics not only portray any brand as being clean and above board, but they also streamline and organize the internal functioning of the businesses. Considering the contemporary business environment defined by a cut throat competition, ethical credentials endow businesses with sound and reliable USPs that eventually translate into an enhanced market share and big profits. Affiliation to credible ethics makes the consumers and the investors feel positive about any business and bolster its public perception as a business that is trustworthy and reliable.
Respect for law, caring for environment, being punctual with customer care, being transparent and accessible are not mere pies in the sky, but are the very fundamentals that form the bedrock of any sustainable and profitable business. Market share, investor trust and brand appeal is primarily about perceptions and commitment to ethics influences the perception about any business with the consumers and the investors. Sound ethics endow any business with a strong brand appeal and investor's interest.
Hence the businesses that subscribe to ethics stand to gain much in the long run. Allegiance to ethics always has a direct positive influence on the public perception, brand appeal, stock prices and market share. ...
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