...Table of content 1. Introduction………………………………………………………………………….……...3 2. Organization and business environment overview………………………………….….3 3. Code of Ethics Beiersdorf AG…………………………………………………….………3 4. Code of Ethics Procter & Gamble...…………………………………………….………..5 5. Code of Ethics related business issues in comparison………………………………..7 6. Summary………………………………………………..…………………………………..8 1. Introduction This paper is presented as the option B term paper for the Business Ethics elective course within the MBA program. The goal is to give an overview and an analysis of the codified Codes of Ethics of two major companies within the business field of consumer goods. The respective companies will be the Beiersdorf AG as the requested German example and actor in this field and Procter & Gamble as the world leading competitor in this area of business. The term paper will be structured in the following way. First the aim is to give a brief overview about the companies in question and the area they are doing business in. In a second step the Codes of Ethics of both enterprises will be analyzed using the framework and criteria for an effective Code of ethics which were presented in class. Thirdly, the aim is to give a personal opinion on the presented facts and compare the companies in their approach. The paper is going to be concluded with the presentation on historical and current issues of ethical questions which are applicable for Beiersdorf and P&G. 2. Organization and business...
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...Corporate Governance Services Suggested Guidelines for Writing a Code of Ethics/Conduct Writing a Code of Ethics/Conduct Companies that follow both the letter and the spirit of the law by taking a “value-based” approach to ethics and compliance may have a distinct advantage in the marketplace. Give the average employee a legalistic “thou shall not….” code, and a negative response is almost guaranteed. Give employees a document that states clearly and concisely the company’s expectations, outlines acceptable behaviors, and presents viable options for asking questions and voicing concerns, and the likelihood is much greater that they will meet those expectations and exhibit the desired behaviors. Make the contents of the code equally applicable to everyone in the organization—at all levels—and you have a key ingredient for a code that becomes cultural, with all of the benefits. Code Basics There is no standard wording for a code of ethics/conduct. Each organization should develop one to suit the needs of its personnel in defining expected behaviors and in addressing the risks, challenges, and customs in the countries in which it operates, as well as to fit their specific industry and situation. However, there are some basic points to keep in mind when creating or modifying a code. • The code language should be simple, concise, and readily understood by all employees. • The code should not be legalistic—written as “thou shall not”— but rather state expected behaviors. •...
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...SEMESTER 2 2011 CPA 118 ETHICS AND GOVERNANCE CPA - ETHNIC SEMESTER 2 2011 MODULE 1 ACCOUNTING AND SOCIETY 1.05 1.05 Part A: Ineraction with society Depictions of A/cting Depiction Defeating depictions defeat Fig 1.1 new bean counter How to become professional? 3 aspects 1.06 Recruiting the best Beard(1994),Smith and Briggs(1999) and Simnik and Felton(2006) Friedman& Lyne(2001);Albrecht and Sack(2000);Coate et al.(2003) Jeacle: colourful accountant linked to corporate collapses 1.07 Moral agency Biddle(2006) Value creation - key to maintain high standards Moral agent - refer to individual making moral judgement for others Moral agent theory based on concept " act appropriotely and professionally" 1.08 Technical functions and social impact Understanding A/cting A/cting defination - Macquarie Dictionary - Technical practice - bookkeeping Not Prefect def - AAA(American A/cting Association) -communication skill… 1.09 Social impact of A/cting + impact - based on historic A/cting info professional capabilities - technical knowledge,soft skill & experience 1.10 Social impact example - A/cting and the GFC "mark-to market" Lonergan (2009) - if A/cting causative factor in GFC 2008/2009 1.11 Q 1.1 Logergan 'standard setters'slow reaction only cause GFC ? NO How wisdom come out? - experience /knowledge Distinguishing feature - building relevant wisdom over time Parker et al. (1989) - induce other behaviour Miller(1994) - intrinsically and inredeemable social impact IMPACT Macro level:...
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...SEMESTER 2 2011 CPA 118 ETHICS AND GOVERNANCE MODULE 1 ACCOUNTING AND SOCIETY 1.05 1.05 Part A: Ineraction with society Depictions of A/cting Depiction=描述 Defeating depictions defeat =挫败 Fig 1.1 new bean counter How to become professional? 3 aspects 1.06 Recruiting the best Beard(1994),Smith and Briggs(1999) and Simnik and Felton(2006) Friedman& Lyne(2001);Albrecht and Sack(2000);Coate et al.(2003) Jeacle: colourful accountant linked to corporate collapses 1.07 Moral agency Biddle(2006) Value creation - key to maintain high standards Moral agent - refer to individual making moral judgement for others Moral agent theory based on concept " act appropriotely and professionally" 1.08 Technical functions and social impact Understanding A/cting A/cting defination - Macquarie Dictionary - Technical practice - bookkeeping Not Prefect def - AAA(American A/cting Association) -communication skill… 1.09 Social impact of A/cting + impact - based on historic A/cting info professional capabilities - technical knowledge,soft skill & experience 1.10 Social impact example - A/cting and the GFC "mark-to market" Lonergan (2009) - if A/cting causative factor in GFC 2008/2009 1.11 Q 1.1 Logergan 'standard setters'slow reaction only cause GFC ? NO How wisdom come out? - experience /knowledge Distinguishing feature - building relevant wisdom over time Parker et al. (1989) - induce other behaviour Miller(1994) - intrinsically and inredeemable social impact IMPACT Macro level: all types of business...
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...Governance Guidelines The Board of Directors has adopted these Guidelines to further its longstanding goal of providing effective governance of the Company's business and affairs for the long-term benefit of the Company's stockholders. These Guidelines are reviewed periodically and revised as appropriate to ensure the effective functioning of the Board of Directors and high quality corporate governance. Board Responsibilities 1. Basic Responsibilities of Board Members. The fundamental responsibility of members of the Company's Board of Directors is to promote the best interests of the Company and its stockholders by overseeing the management of the Company's business and affairs. In doing so, Board members have two basic legal obligations to the Company and its stockholders: (a) the duty of care, which generally requires that Board members exercise appropriate diligence in making decisions and in overseeing management of the Company, and (b) the duty of loyalty, which generally requires that Board members make decisions based on the best interests of the Company and its stockholders and without regard to any personal interest. 2. Conflicts of Interest and Related Person Transactions; Corporate Opportunities. Procedures for the review and preapproval of related person transactions are set forth in the policy attached hereto as Appendix A. If a Board member develops an actual or potential conflict of interest with the Company that is not covered by the attached policy, he or...
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...“Good corporate Governance as a vital constituent of Corporate Social Responsibility” with reference to Indian MNCs Type: Literature review Name of Research Scholar: Santosh Basavaraj, Research Scholar, Anna University of Technology, Coimbatore. Research Supervisor: Dr.B.Rajasekaran, Principal, RKKR School of Management Studies Ettimanickampatty, Coimbatore Road, SALEM – 637 504 Contact Number & Email ID:997209785,santosh_bs2001@yahoo.com Purpose: This research paper aims at gaining an insight into the concepts of Corporate Governance and CSR which enables this researcher to generate new ideas on concepts under study. The central purpose of this research paper is to determine how companies Corporate Social Responsibility practices blended in Corporate Governance and to study integration of CSR with CG which enable future researchers to study how companies are able to sustain its Competitive edge with good CSR activities by considering some good practices followed in industry and their critical evaluations in recent events. This research sets the foundation for future study and refers literature to develop a new hypothesis in the concept of CSR. An additional objective of this research paper is to review the Literature on Corporate governance and studying the Juxtaposition of CG and ethical issues for better corporate social responsibility. Design/methodology/approach This is an exploratory research design and it is used to seek insight in general nature...
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...Corporate Ethics and Government assignment Name: Grade Course: Tutor’s Name: (16, April, 2012) Corporate Ethics and Government assignment Introduction In recent past, corporate ethics and governance has attracted a great deal of public interest due to its apparent importance in the economic health of corporations and society. In general, corporate ethics and governance include the relationship of the company to its shareholders as well as the society. It also includes promotion of fairness, transparency, accountability in references to the mechanism used in the governance so that the actions taken are consistent with the shareholders interest. Therefore, to ensure that corporate ethics and governance is properly addressed, issues of transparency, accountability, measures of risk management, proper information flow both vertical and horizontal should be properly addressed. This will help the companies to adopt the appropriate legal compliance mechanisms to ensure that ethics and conduct of issues are formally addressed. However, compliance of corporate ethics and governance do not come in handy. There are several issues hurdles that several companies and organizations have undergone in achieving these milestones. This has made this topic to be widely discussed especially in the media as will be demonstrated in the articles that will be discussed here after. Most of the newspapers have taken this issue with a lot of seriousness and dedicated their time to discuss...
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...------------------------------------------------- ------------------------------------------------- ASSESSMENT To be filled by facilitator Components | Scores | Scores | | 1 mark | 2 marks | 3 marks | 4 marks | | Completeness of case chart | Case chart is incomplete | Some of the case chart requirements are met satisfactorily. | Most of the case chart requirements are met satisfactorily. | All case chart requirements is met satisfactorily. | | Submission | On-time submission | N/A | N/A | N/A | | TOTAL | | Case analysis STAGE 1 Issues Explain the main issues underlying the case. Place extra attention on the what, why and when. The main issue that was underlying the case is how to overcome the weaknesses, deficiencies and the dilemmas of a family-owned business discovered by the current auditor “Aziz & Co” and Cik Amy “Finance Executive”. Delima Enterprise Sdn Bhd founded in 1981 as sole proprietorship turning into a Private limited company in 2004. In May 2006, the Company had secure a contract worth RM750,000 to be implemented over six months , however, due to the shortage of the fund, the Company need to apply loan from Malayan Banking Berhad and CIMB Berhad totalling of 1 million. On the other hand, in order to get the banking facilities, the Company have to provide its audited financial statement for the last two year as requirement of the banks latest by September 2006. For the above reason, Encik Zayed had engaged the external auditor Aziz & Co to perform the statutory...
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...Chapter 2 Corporate Social Responsibility, Corporate Governance and Corporate Regulation 2.1 Introduction CSR is increasingly an essential issue for companies.1 It is a complex and multidimensional organisational phenomenon that is understood as the scope for which, and the ways in which, an organisation is consciously responsible for its actions and non-actions and their impact on its stakeholders. It represents not just a change to the commercial setting in which individual companies operates, but also a pragmatic response of a company to its consumers and society.2 It is increasingly being understood as a means by which companies may endeavour to achieve a balance between their efforts to generate profits and the societies that they impact in these efforts.3 This chapter discusses these issues. First, it describes CSR and its core principles. Second, it describes CG and narrates CG’s convergence with CSR. Third, it highlights how different economies are incorporating CSR notions in their corporate regulation. 1 Jeremy Moon and David Vogel, ‘Corporate Social Responsibility, Government, and Civil Society’ in Andrew Crane et al. (eds), Oxford Handbook of Corporate Social Responsibility (2008) 303; David Vogel, The Market for Virtue: The Potential and Limits of Corporate Social Responsibility (2005); Nada K Kakabadse, Cecile Rozuel and Linda Lee-Davies, ‘Corporate Social Responsibility and Stakeholder Approach: A Conceptual Review’ (2005) 1(4) International ...
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...Compare China and Japan in Accounting Standard and Recent Events, Which country is drifting further from Confucianism Introduction Chinese and Japanese accounting system has been influenced by Confucianism long time ago, but Bloom and Solotko(2003) proposed that because of the role of the government in the accounting system, both countries China and Japan has went far away from the Confucianism. In this report, the researchers will compare the accounting regulation and corporate governance in both countries, and get the conclusion which country is drifting further from the Confucian origins. This report has been divided into four parts. The first part will talk about the definition of the Confucianism and the implication of the Confucianism to both countries China and Japan. The second part is going to discuss the relationship between China accounting system and Confucianism; the third part will focus on the relationship between Japan accounting system and Confucianism. The last pat will compare the two accounting systems, and meanwhile get the conclusion which country has went further from the Confucianism. Definition of Confucianism Confucianism was founded by Confucius who is the Chinese philosopher and the first raised the Master of Ceremonies. The master of ceremonies gradually developed into the ideological system, which the core is the benevolence, and it’s in the hierarchical structure of society over 2000 years (XingZhong 2000). It exerts a far-reaching...
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...Barrett Forensic Elite: Detective of Numbers No one in the world likes a snitch. In the early 2000’s the urban campaign “Stop Snitching or Die” changed the face of whistle blowing in the United States (Masten, 2009). Neighborhood violence during the “Stop Snitching or Die” campaign increased as law abiding citizen cowered inside their homes as gun shots rang out feet away from their doorsteps (Masten, 2009). In corporate America companies faced huge financial lost as the “Stop Snitching or Die” theology spilled into boardrooms and accounting departments. The corporate world was not as brazen as the urban world killing anyone that help out law enforcement, but the results of company leaders keeping quiet about misconduct slowly murdered the American economic system. While corporate leaders played their hand at boardroom gangbanging by lying, stealing, and falsifying financial documents, the world would see snitching taken to a new level (Masten, 2009). The job of combing through those illegal financial documents would go to an elite set of men and women, called forensic accountant. Forensic accountants help America recover huge amounts of financial dollars by bring corporate leaders to justice who made illegal business decisions (Davis, Farrell, & Ogilby, 2009). Attributes of the Elite Forensic accounting/accountant (FA) involves the application of accounting concepts and techniques to legal problems (Davis, Farrell, & Ogilby, 2009). “Initially, forensic accountants...
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...SHC 3083 Business Ethics and Corporate Governance Section 2 Case study on Governance Failure at Satyam NAME | I.C NUMBER | MATRIC. NUMBER | BONG LUI LUI | 910710-15-5078 | AH100063 | EILEEN WONG PAK YEE | 911107-13-6184 | AH100066 | LAI JIA SIN | 901026-05-5500 | AH100072 | LIM SIN RUI | 910412-02-5152 | AH100074 | LINDA CHAN CHIN HUA | 910522-13-5360 | AH100075 | Table of Contents 1 Introduction 1 1.1 Summarization 1 2 Key Player 3 2.1 B. Ramalinga Raju and B. Rama Raju 3 2.2 Rammohan Rao 3 2.3 Auditors 3 2.4 Bank 3 2.5 Gopalakrishnan and Srinivas Talluri 3 3 Main issue 4 3.1 Weakness of corporate governance 4 3.2 Greedy of external parties 4 3.2.1 Pricewaterhouse Coopers (PwC) 4 3.2.2 World Bank Staff 5 4 Implication 6 4.1 Implication towards company 6 4.2 Implication towards stakeholder 7 4.3 Implication towards economy 8 4.4 Conclusion of Implication 8 5 Discussion 9 5.1 Theory of Ethics 9 5.1.1 Governance Failure and Resignation 9 5.1.2 Secretive Whistleblower 10 5.2 Moral Values 11 5.2.1 Responsibility as a chairman 11 5.2.2 Responsibility as board of directors 12 5.2.3 Loyalty and Truthfulness 12 6 Conclusion and Recommendation 14 6.1 Role played by corporate governance mechanism 14 6.2 Responsibilities and ways to prevent fraud 14 References 16 Introduction We are studying a fraud case which happened at Satyam. In this case study, we will divide into few parts to do analysis. First...
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...on their expertise. Besides, they must be clear and to ensure no errors in the opinion. As they say is a company in important business decisions. Although this is the advice given by person, but as a professional auditor should reduce accidents. Professional auditor must be independent of its work. When problems occur, they must be the cooling time and the time taken to solve the problem, without any confusion. An independent auditor must be a smart, intelligent person. Because they know how to handle and solve their own problems without people help. Code of ethics Code of ethics is formed to help the auditors aware to the areas where ethical pressure may exist and be in dependent all the time. Independent auditors are not only responsible to their client but also the public interest. Therefore, they should follow the code of ethics. (Sagar, Mead, Bampton, 2008) There are some fundamental principles in code of ethics which must followed by them. Firstly, the external auditors must integrity which means they must straightforward and be honest. If they find that any information contains a materially false, they should not be associated with reports. Next principle is objectivity where the external auditors must not allow bias, conflict of interest and should not influence by the others when making decision. (ACCA, 2007) Besides,...
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...Fundamentals of Business Law and Ethics Course of Study Your competence will be assessed as you complete the LWC1 objective assessment for this course of study. This course of study may take up to 10 weeks to complete. Introduction Overview There are the two major subdomains of study within the Fundamentals of Business Law and Ethics Course of Study: business law and business ethics. The exam covers 11 business law and ethics concepts, including the following: contractual relationship government regulation of business dispute resolution labor and employment law hiring and employment practices warranties, negligence, and liabilities Sarbanes-Oxley Act ethical issues in business ethical leadership ethics programs use of company resources You likely have had some experience with the legal system, either through your own encounters or merely through listening to the nightly news, and you have probably read or heard about various ethical and legal issues causing financial upheaval in today's business world. This background will serve you well in this study. Now you can expand on that experience, and perhaps refine and enhance your own views on these issues. Once you complete this course of study, you will have demonstrated a level of competence that you can immediately use in your work setting and career. Outcomes and Evaluation There are 10 competencies covered by this course of study; they are listed in the "Competencies for Fundamentals of Business Law and Ethics (LWC1) " page. You...
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...Subject: Indian Ethos in Management SYLLABUS Class: - B.B.A. VI Semester Subject: - Indian Ethos in Management Unit-I Business Ethics: Introduction, Business Ethics and Management, Business Ethics and Moral Obligations; Corporate Social Responsibility; Corporate Governance; Report of the Kumar Mangalam Birla Committee on Corporate Governance; Role of Media in Ensuring Corporate Governance; Environmental Concerns and Corporations. Ethical Issues related with Advertisement and Marketing; Secular versus Spritual Values in Management, Work Ethics, Stress at Workplace Relevance of Values in Management; Gandhian Approach in Management and Trusteeship; Social Values and Political Environment Indian Ethos: Values and Ethics; Requisites for Ethics Globally A Holistic Management System; Management in Indian Perspective Unit-II Unit-III Unit-IV Unit-V 45, Anurag Nagar, Behind Press Complex, Indore (M.P.) Ph.: 4262100, www.rccmindore.com 1 B.B.A. VI Semester Subject: Indian Ethos in Management UNIT – 1 BUSINESS ETHICS Business ethics is nothing but the application of ethics in business. Business ethics is the application of general ethical ideas to business behavior. Ethical business behavior facilitates and promotes good to society, improves profitability, fosters business relations and employee productivity. The concept of business ethics has come to mean various things to various people, but generally it‘s coming to know what it right or wrong in the workplace and...
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