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What is difference between business ethics and corporate governance?
Wiki User
∙ 10y ago
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. The governance obligations and operations of a corporation vary depending on its type. For example, a sole-proprietorship--a business owned by a single person--has different financial necessities and legal obligations than a massive, publicly-traded corporation
Wiki User
∙ 10y ago
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What is the meaning of corporate governance?
Corporate governance is most often viewed as both the structure and the relationships which determine corporate direction and performance. The board of directors is typically central to corporate governance. Its relationship to the other primary participants, typically shareholders and management, is critical. Additional participants include employees, customers, suppliers, and creditors. The corporate governance framework also depends on the legal, regulatory, institutional and ethical environment of the community. Whereas the 20th century might be viewed as the age of management, the early 21st century is predicted to be more focused on governance. Both terms address control of corporations but governance has always required an examination of underlying purpose and legitimacy. - - James McRitchie, 8/1999 http://corpgov.net/library/definitions.html
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