The Power of Ethical Management
Is the decision you are taking legal? If it is not legal, it is not ethical.
Is the decision you ar taking fair? It should be a win-win situation for both the parties entering into an agreement or if it is a general policy or a multi – level agreement, there should be equal risk and reward to all concerned.
Eleventh Commandment test – If the decision you are taking is such that if it is known in the public through media, will you feel ashamed? If you are feeling ashamed then it is not an ethical decision.
Corporate governance is the net result of the individual sense of values, the values held in society or part of a society like professional bodies or business associations and finally the system of public governance. If those who violate the norms are effectively punished then there is a fear and there will be adherence of the principles of corporate governance.
Is the decision you are taking legal? If it is not legal, it is not ethical.
Is the decision you ar taking fair? It should be a win-win situation for both the parties entering into an agreement or if it is a general policy or a multi – level agreement, there should be equal risk and reward to all concerned.
Eleventh Commandment test – If the decision you are taking is such that if it is known in the public through media, will you feel ashamed? If you are feeling ashamed then it is not an ethical decision.
Corporate governance is the net result of the individual sense of values, the values held in society or part of a society like professional bodies or business associations and finally the system of public governance. If those who violate the norms are effectively punished then there is a fear and there will be adherence of the principles of corporate governance.