Corporate governance and business ethics Essay Example | Topics and Well Written Essays - 5000 words

Corporate governance and descent ethics - Essay ExampleThey are respecting and further the shareholder rights, protecting the interests of each(prenominal) stakeholders, performing the boards responsibilities properly, following integrity and ethics, and having transparency in transactions. Business ethics too has become an important subject at academic level and withal within major organisations. This interest in business ethics is visible in the big organisations translucent emphasis on promoting non-economic accessible values. In simple terms, business ethics aims at handling situations where in that location is a possibility of business going unethical. In other words, as businesses function in social and natural environment, they are supposed to be accountable towards the environment and society they dwell in. In the manifest business climate where there are multinational giants, the paths chosen by these companies have huge come to on the lives of people. There are a number of subjects that come under the purview of general business ethics. The first one is unified social responsibility that deals with the ethical rights among companies and also towards society. In addition, it deals with the moral responsibilities and rights that exist between a fraternity and its stakeholders. Another matter is the relation among different companies, especially during takeovers, and espionage. Another work out is the issues associated with corporate leadership, and political contributions by the telephoner. A look into history will prove that the rise in interest in business ethics has its beginning in 1970s. Before the demesne wars, the business world was full of unethical practices ranging from colonialism and slavery. Corporate social responsibility (CSR) is the obligation of a company to be prudent to all of the stakeholders in its operation to achieve sustainable development, not only economically, but also in social and environmental dimensions. In other words, corporate responsibility means the responsibility of the company towards all its stakeholders ranging from owners, investors, employees, customers, government, suppliers, competitors and the community. In the words of Kotler, and Lee (2008, p.3), corporate social responsibility is the commitment of a company to alter community well-being through its operations and contributions. Nokia The Company in Concern The company that is considered for analysis of corporate governance is Nokia. The company had its beginning in the year 1865 in South-Western Finland as a forest effort enterprise, and the founder was a mining engineer named Fredrik Idestam. By the beginning of 1989s, Nokia strengthened its hold in telecommunications and consumer electronics markets. As Parthasarthy (2006, p. 338) reports, there were number of acquisitions ranging from Mobira, Salora, Televa and Luxor. In addition, it acquired parts of the German Standard Elektrik Lorenz, French company Oceanic, a nd Dutch company NKF and in the case of corporate governance, Nokia follows Helsinki, New York, Stockholm, and Frankfurt stock exchange rules and recommendations as applicable (ibid). The company runs in accordance with the provisions of Finnish Companies Act, and the control and management of Nokia, the Articles of Association, is divided among the shareholders, the Board of Directors, the President and the Nokia