Corporate Ethics Governance And Social Responsibility Precepts And Practices

Download or read book Corporate Ethics, Governance, And Social Responsibility: Precepts And Practices written by A. C. Fernando and published by Pearson Education India. This book was released on 2009-09 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: Is profit-making the only goal of a business? Should an unbridled market mechanism drive corporate enterprise? To what extent should corporations compensate for the manifest and hidden costs that are incurred by the society at large? These are some of the questions that have engaged specialist economists, business barons, corporate heads and management experts for decades. A consensus has emerged that corporate practices cannot bypass the fundamental demands of ethical behaviour, that administration and policies of governance have to be more transparent and publicly accountable, and that businesses must be sensitive to the community and environment within which they are established. This has led to the emergence of three key concepts of contemporary businesses, namely, business or corporate ethics, corporate governance, and corporate social responsibility.