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This 5 page paper examines corporate governance. Several models are discussed. Bibliography lists 5 sources.
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5 pages (~225 words per page)
File: RT13_SA648Inc.rtf
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and they should act in accordance with a vision. Things often flow well, but there have been problems, particularly in recent years. Enron is a favorite example of what can
go wrong, but there are many others related to this dilemma. What can companies do to assure their stockholders, and employees, that everything is above board? Longenecker, Moore, Petty, Palich
& McKinney (2006) write: "In the wake of recent, well-publicized ethical failures, public attention and the concern of leaders in business and government have focused on the moral climate of
corporate America. This awareness and concern is raising expectations for ethical behavior, including those codified into law ...and creating societal pressures for reform" (p. 167). Indeed, people are tired of
the status quo. They are demanding that politicians be honest and that corporations give their workers their due. Yet, aside from protesting, how can a good society change institutions that
do not conform to the higher ideals? There are several solutions. Donald & Goldsby (2004) say that in resolving ethical issues, a holistic approach should be taken. Indeed, corporate
cultures should be altered to improve financial management protocols. Ethical behavior can be employed on a personal and societal level, creating a better world for all. Within the corporation,
despite the fact that its primary goal is to profit, ethics should be embraced at the highest levels. This may mean that a vision be co-created with people at various
levels of the company. All stakeholders should be in unison. This takes time and effort, but a corporate culture can be tweaked so that all benefit from the change. Some
people are cynical, thinking that it cannot be done, but one example of where it is being done is at Boeing. Boeing is a well known American company that takes
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