**This Topic is for Corporate Governance Based upon the textbook readings from module 2 answer the following question in a short paper that is 2-4 pages in length not including the cover page and bibl

**This Topic is for Corporate Governance Based upon the textbook readings from module 2 answer the following question in a short paper that is 2-4 pages in length not including the cover page and bibl
Hello and welcome to module two, corporate governance and business ethics course. This week we’ll be looking at governance and integrity systems related to corporate governance with an examination of how ethics applies in corporate firms, where they get their ethical guidelines from and how they take that into consideration of how to run and operate the business. Slide too. Why does good governance, ethics and integrity matter in the corporate world? While in large part, there’s a correlation between good governance and effectiveness of developmental assistance as well as effectiveness of running and managing a corporation. Slide three, high levels of unethical and corrupt behavior in a country’s public and private sectors, uh, often can deter foreign direct investment and inhibit growth. If you’re a country that relies heavily in part on getting investment from people that are abroad, they will want to know that there’s from governmental controls that manage and regulate corporate behavior as well as a strong internal corporate guidance in order to attract money from outside of the country. Borders slide for ethics and values. What are they in? Where do they come from? One practical definition of ethics is that it’s a criteria principles a person uses when selecting a course of action in the face of competing values. Values can be ethical values, truths in this respect for others or ethically neutral values, ambition, which to be respected, desire for wealth. So when you think about it, it can be a combination of things that guides you in terms of determining what you want to do. Some of them can come from people’s religious tradition, some of them can come from things people are taught by their parents or their caregivers that raise them and others are just what they learned over time and interacting with the world about how to behave and not behave. Slide five. The goal that system of ethics, particularly at the court corporate level, is to define aspiration of values in terms of what ought to happen or what should be the World Bank code of professional ethics. Uh, has an institute of internal auditors and there are several different global institutions that have examples of code of ethics, of conduct’s. Uh, some of the other examples listed here, other international chamber of Commerce, rules of conduct, combat extortion and bribery, and again, some of these links have websites of other clothes and other ethics resources that you can look at. For reference. Slide six, the goal of creating a system of ethics is to align the descriptive values of what is, how the company’s actually run and manage with the aspiration of values of Ot, what the company ought to do, and should do, a companies in order to get this in past their ideas of ethics throughout their workforce, other employees as a combination of guidance and training that can be provided by management to employees as well as the corporate board members. Having enforcement mechanisms to ensure that the company, Babes and ethical manner and providing incentives to encourage positive behavior. Slide seven. Elements of an ethics infrastructure includes a political commitment and elective legal framework from the governmental top to encourage good corporate governance and ethical behavior and then workable codes of conduct and accountability mechanisms to provide a carrot and a stick to ensure that proper ethical behavior is found in enforced. Slide A. looking at again, so we’re now gonna, look at a few slides and provide some examples of principles for managing ethics and corporate governance. Slide nine, ethical standards from corporate governance should be clear. A corporation should be upfront, habit stated explicitly and how it runs the company. When you look at the mission statement and other things in terms of we’re going to be ethical and this is what that means for this particular organization. There should be ethical standards reflected in the legal framework and the makeup of the corporation and there should be guidance both internal and external provider to the board of directors who manage the company as well as the CEO on a day to day managers that run the organization. Slide 10, corporate employees should know their rights and obligations when exposing wrong. Doing. One way to ensure good ethics is to make it easy for employees to point out when others, perhaps their immediate manager at drawing, things that are in ethical or wrong, whether it’s cheating the company, cheating the customer or some combination thereof. There should be mechanisms for them to report wrongdoing anonymously in there should be protections so that they aren’t fired and punished and treated harshly because they’re doing the right thing by exposing unethical behavior. Slide 11. There should be clear guidelines also for interaction between public and private sectors between how the government interacts with the companies. Managers should demonstrate and promote ethical conduct and they should be encouraged and incentivized to do so, and management policies, procedures, and practice should also continue to reinforce the message that positive ethical conduct is important and that that be encouraged and enforced throughout the organization. Slides, wealth, corporate governance, condition to management. If human resources, again, should also promote ethanol. Conduct that looking at, you know, the hiring and firing of individuals, uh, having proper accountability mechanisms and procedures and sanctions should exist to deal with misconduct. Slide 13. The next few slides we’re going to look at now, then we’ll look at, um, insensible elements, uh, things that are required that are important to have an ethical organization above and beyond just the things we’ve talked about in terms of having a good set of standards. Slide 14, this is a quote from Peter drucker would executives do and what they believe in value and what they reward and whom are watch seen immediately interpreted throughout the whole organization and nothing has noticed more quickly and considered more significant than a discrepancy between what executives preach and what they expect their associates to practice. And so essentially it’s saying corporations have to lead by example. You have to be ethical at the top and in management if you want your employees to be ethical and diligent as well in their jobs. Slide 15. So corporations need to establish values in the hierarchy of values, much more so than specific compliance rules involving the staff entire and to do it. So it’s good to get feedback from lower level employees about what they think is ethically right and wrong and how it should apply. Many things that are compliant and legal may make the rules but still are wrong or at least not the right thing to do. And he wants to impress upon people that are part of the organization. Uh, I expect more than just following the bare minimum of these rules and laws. But we want to truly try to be an organization that tries to do the right thing, a school versely honor the values in your own conduct. Slide 16. Leadership needs to communicate these values to everyone. Uh, provide resources, time and money for training. You can’t just say, okay, we’re going to be ethical one time and expect that to stick. You need to, uh, emphasize that and have a method to drill that into people over and over through resources, through time, through training, so that they become accustomed to hearing that same consistent message over and over. Slide 17, you want to have a complaint friendly environment again, where your employees feel like, uh, they can provide reliable, anonymous ways to report impropriety or things that are done and that if they actually report something, it will be followed up on a. that’s another thing that discourages employee from reporting. If they complain about something and say, this is an issue and nothing ever changes, nothing ever happens and it doesn’t even appear that anyone looks into it. That also will be discouraged from reporting things because they will think, what’s the point? Slide number 18, you want to be intolerant of unethical behavior, but allow people will commit minor and proper access survive and succeed. You want to avoid a cover up at all costs mentality. Errors will be made and people will make mistakes, so you don’t want to send the impression that anybody who gets caught by filing any rule at any time is going to be subject to harsh, recriminations punished. Find fired in that aspects as you don’t want to encourage people to cover up. You want to encourage people to self report to say, Hey, maybe a mistake or an error was made here. You’re not expecting them to be perfect just to be accountable and responsible. Bad News uncovered a reported immediately again, is always better than bad news covered up and discovered later. Slide number 19. Again, these next few slides, we’ll just lift them up. Links to some different resources that you may want to refer to on your own time regarding other corporate governance codes. For example, there’s a handled on the oce oacd principles of corporate governance. Slide 20 slides a couple links to information about bribery and about anti money laundering principles. Slide number 21, here’s information regarding combating corruption, uh, within a national integrity system. And again, these are primarily global resources. Finally, slide 22 again, the World Bank and the European Institute of business as ICS dilemma. Training advice isn’t some information to provide guidance on how to detect and resolve ethical dilemmas as well as other training resources provided by the World Bank Institute. Okay, and this concludes the corporate governance and business ethics lecture for module two.