Business ethics and corporate governance

In this chapter we:

ask what is corporate governance;

review board structures;

consider board functions including:

corporate mission, vision, values, and strategy formulation;

policy making;

executive monitoring and supervision;

accountability, ensuring compliance, and transparency;

recognize a unitary board's responsibility for performance and conformance;

establish relationships between business ethics and corporate governance;

study corporate governance codes, listing rules and regulations;

look at some theoretical insights — agency, stewardship and stakeholder ideas;

review the roles of the board chairman and chief executive officer;

recognize the role of the auditors, regulators and company secretary; and

consider changing expectations in the governance of organizations.