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A Peaceful Evacuation

In: Business and Management

Submitted By Bus2014Focus
Words 1950
Pages 8
Corporate Governance and Ethical Responsibility
Anthony D. Mcilwain
Professor Traubert
LEG 500
05/10/2013

Synopsis Corporate governance and ethical responsibilities are the key components for executive teams to make proactive decisions within the organizational environment. “The Ethics & Compliance Office has operational responsibility for education, consultation, monitoring and assessment related to the Code of Business Conduct and compliance issues” (Cola, 2013). Unethical behaviors could transpire within a poorly monitored environment that could be detrimental to the reputation and characteristics of the business. Periodically there has to be an audit pinpointing weaknesses that could develop adverse situations that hinder stakeholders’ ties to the business. Shortcomings that result in casualties or potential monetary losses need to be addressed and resolved to ensure organizational goals are met.
Stakeholders
The multifaceted dimensions of the business are inevitable because the CEO has to communicate with stakeholders internally and externally periodically during the work week. Stakeholders internally would include employees, managers and board members. The executive staff has to ensure that no member contravenes the moral of the business through training, communication ties and ethic principles. According to the Wall street Journal, “CFOs have to quickly establish effective relationships with the CEO, the audit chair, the board, peer executives and staff members as they advance their agendas. Failure to master any one of these relationships can often drain the energy of a CFO and sometimes stymie a career. Failure to balance these relationships can handicap the very agenda the CFO is trying to advance” (Boyle, 2013). Properly addressing problematic situations within the working environment helps to instill character for blowing the whistle...

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