Ethics is a good attitude of behavior, concern with morality and natural right or human right. The related of definition business ethics still the same concept with definition of ethics but the differentiate of it, business ethics more be highlighted about the activities, situation and decision making of business. Depend on the individual perception about the situation of activities is right or wrong behavior, avoid from illegal activities of business, how their manages their employees fairly, avoid from any fraud in the business and such.
Consider the Business Ethics is NOT Oxymoron
Business Ethics and Oxymoron are two apparently contradictory concept, refer to definition of business, business is the activity that provided the goods and services to consumer to earn the profit and ethics is a good attitude of behavior, concern with morality and natural right or human right. But nowadays, most of people do not followed the ethics in the business and when the individual started to aim the gain profit quickly, they have to involve in bribes and fraud, this situation had burden to others and it is call an unethical behavior. So the business ethics is not consider as oxymoron.
Corporate Governance
The system of rules, practices and processes by which a company is directed and controlled. Corporate governance essentially involves balancing the interests of many stakeholders in a company. These include its shareholders, management, customers, suppliers, financiers, government and the community. Coporate governance also provided the framework for achieve a company's objective, it included practically every sphere of management, from action plan and internal control to performance measurement and corporate disclosure.
Based on 1992 pressing issue about a breach of corporate governance had be corrupted by internal authority, they had made the accounting of companies been fraud bankrupted high profile companies and that's had been happened to Enron and WorldCom. The ethical of employee and employer in their ability to the Corporate governance had most important to avoided from any unethical dilemma in the company.
Most companies strive to have a high level of corporate governance. These days, it is not enough for a company to merely be profitable, it also need to demonstrate good corporate citizenship through environmental awareness, ethical behavior and sound corporate governance practices.
by: Siti Maisarah Binti Mansor
Id No: 62289113066
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