AssignMent

Question one :

Definition Business ethics?

"Business ethics" can be defined as the critical, structured examination of how people & institutions should behave in the world of commerce. In particular, it involves examining appropriate constraints on the pursuit of self-interest, or (for firms) profits, when the actions of individuals or firms affects others. Business ethics also  the study of  business situations, activities, and decisions where issues of right and wrong are addressed. Business ethics study of proper business policies and practices regarding potentially controversial issues, such as corporate governance, insider trading, bribery, discrimination, corporate social responsibility and fiduciary responsibilities. Business ethics are often guided by law, while other times provide a basic framework that businesses may choose to follow in order to gain public acceptance.

Why business ethics is considered “ oxymoron “ ?

by oxymoron, we mean the bringing together of two apparently cntradictory concepts like cherrful pessimist or deafening silence.

businesses can and do act ethically. and they do so because good, ethical behavior is the best long-term strategy for a company. that's not to say that ethical behavior always pays off financially or that unethical behavior is always punished. actually, doing the right thing can sometimes be quite costly for a business, and doing something unethical may pay off, at least in the short term. what we mean by "the best long-term strategy" is that for the most part and over the long run, acting ethically can give a company a significant competitive advantage over companies that do not act ethically.

         Question two :

         What is Corporate Governance?

 Corporate Governance refers to the way a corporation is governed. It is the technique by which companies are directed and managed. It means carrying the business as per the stakeholders’ desires. It is actually conducted by the board of Directors and the concerned committees for the company’s stakeholder’s benefit. It is all about balancing individual and societal goals, as well as, economic and social goals.

Corporate Governance is the interaction between various participants (shareholders, board of directors, and company’s management) in shaping corporation’s performance and the way it is proceeding towards. The relationship between the owners and the managers in an organization must be healthy and there should be no conflict between the two. The owners must see that individual’s actual performance is according to the standard performance. These dimensions of corporate governance should not be overlooked.