Business ethics represent the values, principles or characteristics that a company follows when conducting business in the economy. Corporate governance is the internal framework that a company designs and implements to govern and protect those invested into the company.
Thematically, the main difference between corporate governance and ethics is that the
ethics are the philosophical and morally decent standards that a corporation attempts to stand by, while governance processes are the means by which a corporation attempts to remain as ethical as possible while still making a profit.
Ethics is the first line of defence against corruption while law enforcement id remedial and reactive. Good
corporate governance goes beyond rules and regulations that the government can put in place. It is also about
ethics and the values which drive companies in the conduct of their
business.
Corporate Governance • In narrow sense, corporate governance deals with maximizing the shareholder’s wealth. • In broader perspective, it considers the welfare of the all stakeholders and the society. Ethics It is a branch of philosophy and is considered as a normative science because it is concerned with the norms of human conduct.,
×The main difference between business ethics and corporate governance is:
- Business ethics represent the values, principles or characteristics that a company follows when conducting business in the economy.
- Corporate governance is the internal framework that a company designs and implements to govern and protect those invested into the company.
- Ethics are the philosophical and morally decent standards that a corporation attempts to stand by.
- Governance processes are the means by which a corporation attempts to remain as ethical as possible while still making a profit.
