Corporate Governance and Business Ethics

[Nam of the Author]

[Name of the Institute]Corporate Governance and Business Ethics

Introduction

The businesses are expanding as rapidly as there are advancements that are occurring in seconds of a time every day and everywhere in the world. It is due to the fact that the globalization has brought the international and national firms at the single platform. The number of businesses is increasing and thus the responsibility of them. The organizations that are running their operations are liable for the corporate governance and the business ethics. There are corporate social responsibilities that are bound on every organization.

The essay is therefore, covering all the aspects of corporate governance, business ethics and the corporate social responsibilities of a particular organization. I have chosen Toshiba as it is the world's leading company. I will discuss in detail about its corporate social responsibilities, Corporate Social Report review and analysis and the Stakeholders' perspectives and criticism; company responses and counter arguments that will be in context to the company profile and operations of the Toshiba.

Discussions

Corporate Governance and Business Ethics

Corporate governance has gained unprecedented prominence in recent years.. (Collier, Roberts. 2001)

The book, Global Perspectives on Ethics of Corporate Governance (Rossouw, Sison. 2006) was an attempt to systematically compare the ethics that underpins corporate governance regimes around the world. Ethics is associated in two different ways with corporate governance. The first way in which it is associated with corporate governance relates to the ethical values and assumptions that underpin a specific corporate governance regime or code. This is what is referred to as the "ethics of governance". The second way relates to the way in which corporations are expected or required to manage their own ethical performance. This is referred to as the "governance of ethics" (Rossouw. 2005).

The "governance of ethics" to the contrary is always presented in an explicit manner. It deals specifically with what corporations are expected or required to do in order to ensure that they act in an ethically responsible manner. Consequently the governance of ethics deals with matters such as, for example, codes of ethics, rules of conduct, ethics training of boards of directors and staff, ethics audits, reporting on ethics performance. Contrary to the ethics of governance that underpins an entire corporate governance regime in all its manifestations, the governance of ethics is just one aspect that might, or might not, be addressed within a specific corporate governance regime. The locus of control in corporate governance can be located either inside or outside of corporations or in a combination of inside and outside control. Corporate governance control located inside corporations will be referred to as "internal corporate governance" and outside control will be referred to as "external corporate governance".

"Internal corporate governance" refers to the control exerted by a board and executive managers over the performance of a company. This control takes the form of steering the strategic direction of the company (performance) and ensuring that company adheres to formal and informal standards of corporate behavior in a given ...