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Overwork and toxic work environments are social issues that call for the creation of suitable policies by the government, labor unions, health officials, and corporations. What moral considerations need to be made while creating suitable regulations in this area? (Answer ...
The idea of ethical corporate governance is based on the equity principle, which aims to strike a balance between the interests of the business, its stakeholders, lenders, suppliers, government, and shareholders, and the community at large. In order to ensure ...
Ethical corporate governance refers to processes and policies deployed by a company or organisation to deal with the day-to-day businesses, ensure a balance between profit making and service delivery without venturing into unethical practices. It is based on the principle of balance of equity, whichRead more
Ethical corporate governance refers to processes and policies deployed by a company or organisation to deal with the day-to-day businesses, ensure a balance between profit making and service delivery without venturing into unethical practices.
It is based on the principle of balance of equity, which recognizes that an organization’s responsibility extends beyond maximizing value for the shareholders. It considers the interests and rights of all stakeholders including the community as large and aims to ensure their fair treatment and consideration in decision-making processes.
In this context, following values play a central role in ensuring ethical corporate governance:
India has witnessed multiple corporate scams like Harshad Mehta Scandal, Satyam scam, and Sahara Scam. They highlight the need for stronger regulatory oversight, improved corporate governance, and increased accountability to detect and prevent such fraudulent activities.
See lessDo you concur that a corporation’s environmental, social, and governance (ESG) issues greatly enhance the value of the company? (Answer in 150 words)
Environmental, social, and governance (ESG) considerations refer to a set of standards for a company's behaviour used by socially conscious investors to screen potential investments. Environmental criteria consider how a company safeguards the environment, including corporate policies addressing issRead more
Environmental, social, and governance (ESG) considerations refer to a set of standards for a company’s behaviour used by socially conscious investors to screen potential investments. Environmental criteria consider how a company safeguards the environment, including corporate policies addressing issues such as climate change. Social criteria examine how it manages relationships with employees, suppliers, customers, and the communities where it operates. Governance criteria deal with a company’s leadership, executive pay, audits, internal controls, and shareholder rights.
It is said that the ESG proposition is directly linked to value creation and better financial performance for the corporates.
Some of its major impacts are as follows:
India has announced that the country will achieve net zero emissions by 2070, in addition to its updated climate pledge as part of the Paris Agreement. Therefore, companies that would take it into their ESG considerations would not only add value to their business but also help the global cause of dealing with climate change.
The culture of working from home has given rise to a number of ethical issues in private companies. Given this, do you believe it is morally acceptable for an employee to work a second job? Talk about it. (Answer in ...
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Ethical corporate governance requires a proper balance between spirit and structure. Discuss. (150 words)
Answer: Corporate Governance represents the value framework, the ethical framework and the moral framework under which business decisions are taken. In other words, the investors want to be sure that not only their capital is handled effectively and adds to the creation of wealth, but the business dRead more
Answer: Corporate Governance represents the value framework, the ethical framework and the moral framework under which business decisions are taken. In other words, the investors want to be sure that not only their capital is handled effectively and adds to the creation of wealth, but the business decisions are also taken in a manner which is not illegal or does not involve moral hazards. In recent years, corporate governance has received increased attention because of high profile scandals involving abuse of corporate power in some cases, like the IL&FS, Satyam Fraud, Kingfisher Airlines Fraud etc. As a part of ethical corporate governance, it must uphold the rule of law, transparency, accountability and protection of public interest in the management of a company’s affairs in the prevailing global and competitive market milieu. Ethical governance necessitates not only structure but also the right spirit:
Thus, the questions of ethics, or the right way to run a business, are inherent in all aspects of corporate governance. Ethical choices are relevant within the core business strategies that the boards pursue and the way that directs the business as a whole to achieve them.
See lessExamine the moral ramifications of commercial space exploration, taking into account the recent rise of the private sector.(Answer in 150 words)
Answer: Space exploration is motivated by scientific curiosity and discovery. In recent years, space exploration has been scaled up through government agencies as well as through private companies and commercial space exploration looks like an immediate possibility. However, commercial space exploraRead more
Answer:
Space exploration is motivated by scientific curiosity and discovery. In recent years, space exploration has been scaled up through government agencies as well as through private companies and commercial space exploration looks like an immediate possibility.
However, commercial space exploration has various ethical implications, such as:
However, commercial exploration must also be assessed in the light of economic endeavours, profits and proliferation of the industry. It will enhance innovation and advancement of scientific research and technology, which will potentially improve the quality of life. In the light of prospective benefits and ethical issues, mankind has to decide on the future of space exploration by drawing a balance between benefits to be accrued from it and its harmful consequences.
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The Global Burden of Disease Study 2019 estimated that mental health disorders, including work- related stress and burnout, affected approximately 197 million people in India. According to an NSSO report, most employees in India work for more than 48 hours a week higher than the ILO's prescribed timRead more
The Global Burden of Disease Study 2019 estimated that mental health disorders, including work- related stress and burnout, affected approximately 197 million people in India. According to an NSSO report, most employees in India work for more than 48 hours a week higher than the ILO’s prescribed time limit.
The high levels of work-related stress, long working hours, work-life imbalance, and incidents of workplace harassment contribute to adverse physical and mental health affecting overall well-being and productivity of the employees. To address such issues, there is an urgent need to formulate policies promoting a safe and nurturing workplace environment by engaging all stakeholders.
Ethical issues that should be considered while formulating the policies:
Creating and sustaining an ethical workplace culture takes time, effort, and patience. Core values such as integrity, empathy, transparency etc. can help build an ideal workplace culture fostering good behaviour. Such measures along with limited working hours, providing a nurturing environment, regular psychological evaluations etc. can boost productivity and improve work culture.
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