Business Ethics and Corporate Governance, Second Edition

SUMMARY

In the new era, the board of directors has to shoulder larger responsibilities to meet the increasing demand of the market place. Running a corporation only to earn profits for the shareholders is a concept that is dead as a dodo. In today’s world, the corporate as a social entity, has to look beyond its shareholders, to embrace all stakeholders and to perform its ethical and social obligations to society through corporate governance practices. The need to have proactive, socially conscious and upright board of directors to guide and run corporations is keenly felt not only in the United States, Europe and Australia, but also in developing countries like India and South Korea. Several corporate bodies such as Tata Steel, Infosys Technologies, ...