Business Ethics and Corporate Governance, Second Edition

GOVERNANCE IS A MATTER OF CONTINUOUS LEARNING

Ultimately, both better public governance and corporate governance are an exercise in continuous learning. We learn from experience and try to avoid the mistakes committed in the past. But when it comes to new types of crimes or new types of frauds, it is better to remember what Oscar Wilde said: ‘The thief is an artist and the policeman is only a critic.’ It does not mean that we should stop devising systems, which will be as effective as possible in ensuring that better governance prevails. Ultimately, there are two elements for better governance. First is the individual values of the people who are running the enterprise and the second is the external framework of rules, regulations, organizations ...