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Business ethics lecture 2

Business Ethics

Corporate Governance

 Persons

placed in positions of trust who use
due care and loyalty in acting on behalf of
the best interest of the organization.

Duty of Diligence:

duty of care to make informed and
prudent decions.

Duty of loyalty;
 All

decisions should be in the interests of the
corporation and its stakeholders.

Conflict of Interest:
 When

a person in a powerful authority
uses the position to obtain personal
gain usually at the expense of the

BoD and Officers’ compensation !

To remove the opportunity for
employees to make unethical
decions; developed formal systems
of accountability, oversight, and
control are knwn as corporate

How closely workplace decisions are aligned
with a firm’s stated strategic direction.
 Alco compliance with ethical and legal


A system of checks and balances that limits
employees’ and managers’ opportunities to
deviate from policies and strategies and
that prevent unethical and illegal activities.

 Process

of auditing and improving
organizational decisions and actions.

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