Business Ethics and Corporate Governance
Business Ethics and Corporate Governance in organizations
Business ethics and corporate governance dictates that the chairman should disclose the financial details to the newly employed engineer when requested officially rather than remaining silent. The relevant issue in the given scenario is financial constraints. Financial reports should thus be provided if the engine requests them officially in order to enable the engineer to be able to develop strategy which would help solve the situations and avoid the occurrence of bankruptcy the disclosure is therefore aimed at achieving equality as well as justice by considering the well-being of the organization as well as that of the corporation. Based on justice theory the theory holds that the conduct of individuals and that of an organization must be based on the fair distribution among all the involved parties (Gerrard, Michael, and Sheila, 110). Writers who offer marketing management assignment help at Edudorm essay writing service notes that failure to solve the existing situation, therefore, poses a danger to the organization which is unfair and undermines business ethics and corporate governance. In order for the financial engineer to correct the situation details of the existing report in the organization is necessary. This theory is more successful based on the several aspects which include considering the outcomes of others, the outcomes of the organization as well as the input of the organization and that of others (Gerrard, Michael, and Sheila, 111).
Treatment of Employs to Promote Business Ethics and Corporate Governance
The outcome, therefore, comprises of those things that the employees aim at achieving from the organization. This should not be ignored because it would thus lead to unfair treatment thus disobeying the justice theory which aims and maintain equity in distribution. Experts who offer strategic management assignment help at Edudorm essay writing service indicates that the information should, therefore, be provided to the engineer to ensure that accurate strategies are developed for the well-being of everyone involved. Several solutions can be applied in enhancing business ethics and corporate governance and solving the financial issue which may include developing practical plans, reducing the number of employees based on productivity and achievement, costs reduction and acquiring financial help (Gerrard, Michael, and Sheila, 114).
Right Theory
According to the right theory, there are those things that cannot be done against the wishes of other individuals because everyone is a hold of moral rights (Boske, Christa, and Sarah, 66). This, therefore, means that the involved individuals have special protection in regard to their moral rights and therefore they should not be frustrated. Authors who offer change management assignment help at Edudorm essay writing service points that to promote business ethics and corporate governance, the engineer requires the financial details in determining whether the cooperation and correct the situation and in what ways that the situations can be corrected. Therefore, the engineer is entitled to information because they require that information in generating a report. The chairman, on the other hand, is required to consider the good fare and the right of the stakeholders as well as the employees which can thus be protected by rectifying the situation. The chairman is therefore supposed to struggle for the rights of the individuals to be respected (Boske, Christa, and Sarah, 67). If the chairman chooses to remain silent in protecting the image of the organization this may, therefore, result in the disruption of activities in the organization as the corporation may end up being bankrupt.
Stockholder Theory Supporting Business Ethics and Corporate Governance
In regard to stockholder theory the management is required to maintain consistency in the aim of achieving social responsibility (Fernando, 2). The management is therefore required to anticipate for actions that will benefit the form in a long run. This should, therefore, be linked to the goals of the business because the organization is necessitated to produce productive employees, loyal customers and investors who are enthusiastic. The chairman is therefore required to make a decision which is aimed at benefiting the stakeholders who include the employees, customers, investors as well as the surrounding community (Fernando, 6). The theory is aimed at developing the profits of the corporate as it is the major responsibility of the organization. Therefore, the chairman should consider the well-being of everyone involved in the situation (Fernando, 7). Tutors who offer operations management assignment help at Edudorm essay writing service acknowledges that the best solution strategy in scenario is identifying the root cause of the financial situation, brainstorming all the available options, selecting the suitable solution and implementing and checking for impact. To promote business ethics and corporate governance, the corporation should opt for financial assistance in order to prevent the corporation from closing. This should thus be incorporated by costs reduction on inventory and salaries in order to increase revenue generation.
Works Cited
Boske, Christa, and Sarah Diem. Global Leadership for Social Justice: Taking It from the Field to Practice. Bingley, UK: Emerald Group Pub. Ltd, 2012. Print.
Fernando, A C. Business Ethics and Corporate Governance. Delhi: Dorling Kindersley (India), licenses of Pearson Education in South Asia, 2010. Print.
Gerrard, Michael, and Sheila R. Foster. Law of Environmental Justice: Theories and Procedures to Address Disproportionate Risks. Chicago, Ill: American Bar Association, Section of Environment, Energy, and Resources, 2008. Print.
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