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Corporate governance is the combination of control functions that work unified in order to control the relations among all of those invested in the company; shareholders, management, and employees (p. 2). Additionally, corporate governance is not just about management and control, it focuses on the moral values, social accountability, worthy occupational practices, and control activities (Minculete & Olar, 2014, p. 97). According to Minculete and Olar, a good corporate governance entails the right “association and combination within the governance of operational terms like internal audit, internal control, external audit, and risk management” (p.
We then break leadership into smaller compartments, as we look at its theories and significance to the advantage of a successful business 2. The importance of ethics and values in business sustainability 2.1 ETHICS For a business to be effective and running, ethics and values are important factors. Both of these factors work in correlation with one another and they are central to any organization. We then define ethics as moral principles that govern a person’s behaviour. This can be identified on how stakeholders (consumers, customers and shareholders) behave in the organisational environment.
For the purpose of this essay, one must provide an apt definition to the concept of business sustainability .Business sustainability (corporate sustainability) is achieved when a business is able to manage and coordinate its financial, social and financial aspects whilst ensuring that it is ethical and responsible in its approach to attain continuous success (WhatIs.com).A businesses ethics and values, determine businesses sustainability in its approach to acquire continuous success. A businesses ethics play a major role in influencing the action of its members to contribute towards, or disregard, acts of corporate sustainability .A Business ethics are the moral principles guiding business behavior (Anglo-American).According to an Anglo American case study on business ethics and corporate responsibility (Anglo-American), organizations must be able to differentiate between right and wrong when classifying acts as ethical or unethical. Ethical acts abide to the norms of society, for example: acts against mass deforestations by organizations; in contrast, unethical acts disregard the norms o... ... middle of paper ... ...and information | The Times 100. 2014. What are business ethics?
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DOI: 10.111/j.1740-4762.2011-01011.x Parris, D. L., & Peachey, J. W. (2013). A systematic literature review of servant leadership theory in organizational contexts. Journal of Business Ethics, 113, 377-393. DOI: 10.1007/s10551-012-1322-6 Walumbwa, F. O. (, 2011).
Business management Name: Szarathkumar Surname: Jayakumar Student number: 201470704 Table of content Page Number Content 3 Ethics in a business Values in a business 4 Values in a business Leadership in business 5 Leadership in business 6 Reference Ethics In this section of the assignment I will describe my understanding of the values and ethics involved in business sustainability. This benefits of good ethics and values and the important of ethics and values in business sustainability. Ethics: can be defined in words of the persons and the moral code they are governed by. Benefits of good ethics to the company are they create profitability, it gives the company a competitive edge and creates good reputation for the company. Profitability is created when the employees are true to the company and don’t create corruption in the company thus creating a sense of reliability towards the company from the customers which in turn generates profit for the company.