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Director's Code Of Ethics And Global Capitalism

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3.2 HIGH PERFORMANCE WITH HIGH INTEGRITY

Global capitalism must candidly face a fundamental problem of integrity, which is at the very heart problem of high performance; lie fundamental forces that, if left unconstrained, cause white collar crime such as corporate corruption. Codes of ethics tend to be reasonably general in their tenor, encouraging employees to display particular characteristics such as loyalty, honesty, objectivity, probity and integrity. Director’s code of ethics plays an important role in corporate governance in order to make sure that an organization achieves high performance. Following the Director’s code of ethics will reduce the amount of directors that is motivated by greed than need as they are full with selfishness. …show more content…

That definition should comprise not just the company’s commercial strategy, but also its approach to its higher-priority risks and opportunities in near, middle and long term. The board’s decision on strategy should involve the review of management decisions within the company. The board’s fundamental role throughout should be one of constructive criticism.it should seek relevant information and ask hard questions, in an effort to ensure that there was a reasonable process that led to a solid substantive position within a reasonable range of management. The board does not customarily substitute its judgment for that of management. In overseeing the performance with integrity strategy, therefore, they do not need to master minutiae or design the program. But it must take most seriously questions about whether the articulated aspirations, financial incentives and potential penalties create an integrity culture, and whether the key principles and practices, including rigorous systems and processes are being implemented by business leaders. The board’s strategic oversight vital role is within the quality of information, the honest essence of the matter but not the quantity. For complex deals involving significant integrity risk, analyzing and debating an issue for several meeting prior to decision can be far more effective than a one-meeting blitz based on phone book-sized briefing

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