Corporate governance has become an issue of immense interest in the contemporary world of business as the needs of different stakeholders change continuously. It is vital to note that corporate governance entails rules, relationships, processes, and systems within which authority is exercised and controlled in organizations. Ethics refers to the rules of what is good or bad within the organizations. Shareholders and managers are supposed to ensure that organizations are run in an effective manner that would accommodate and attract more stakeholders. CQ University through its documents highlights key stakeholders groups affected by corporate governance and ethics. These groups include employees, supervisors, and council members. It is vital for all organizations to uphold effective corporate governance and ethical standards that would ensure satisfaction of the stakeholders’ interests (Anderson & Orsagh 2004, p.68). Transparency and accountability must also be addressed to reflect effective standards of corporate governance and ethics. This is also reiterated by CQ University in its documents on enhancing.
In reference to the operation of organisations, corporate governance involves a framework of rules, relationships, systems, and processes within and by which organisations are governed. Notably, corporate governance also entails mechanisms by which companies and those in control are held to account in the course of their operations. Ethics plays an instrumental role in ensuring that organisations are governed in the most appropriate manner in line with transparency and accountability. CQ University’s key stakeholders include employees, supervisors, and council members. Documents from CQ University address some of the key emerging ethical issues including sexual harassment, workplace bullying, and overall harassment. As Badaracco and Webb (1995) explain, the maintenance of transparency, accountability and confidentiality as well as the promotion of awareness indicate the response to mandatory requirements. Social responsibility and the promotion of public good are indicative of organizations’ voluntary practices. Therefore, it is significant for all organisations to uphold and exhibit effective corporate governance and ethical standards.
This essay explicates significant corporate governance and ethics in line with CQ University documents.
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Staff members are one of the key stakeholder groups affected by both of these documents. Employees play a vital role within the organisation as they ensure that all functions and responsibilities are performed in line with the goals and objectives of the organisation. Employees are the primary stakeholders in the organisation and the management must ensure that all their interests such as proper working environment are addressed accordingly. Therefore, the two documents highlight the significance of employees as vital stakeholders who determine the performance of the organization.
Notably, the two documents also highlight the supervisors as significant stakeholders within the organisation (Bhattacharyya 2006, p.43). Supervisors are always responsible for overseeing the performance of duties within the organisation. It is vital to note that supervisors allocate duties and responsibilities to employees within the organisation and they always ensure that they monitor the duties performance. Supervisors form a significant group of stakeholders because they give guidance to employees, hence motivating the achievement of the desired goals and responsibilities.
The last group of stakeholders covered in the papers is council members. Council members determine overall operations within the organisation by facilitating the process of decision-making within the organisation. The interests if council members must be addressed significantly to ensure that they are motivated and continue working towards the achievement of effective goals within the organisation. They would support the organisation effectively and ensure that it moves towards the achievement of the desired goals and aspirations.
Emerging Business Ethics Issues
Workplace bullying is one of the key ethical issues addressed in the documents. This is the practice that involves unfair treatment of junior employees within the organisation. It is an emerging business ethics issue as some senior employees in the organisation such as managers take advantage of junior employees within the organisation. The practice is emerging in the contemporary organisational environment. Workplace bullying is also illustrated by the allocation of enormous duties and responsibilities to other employees and the protection of other employees from the performance of duties (Brink 2011, p.76). It is an emerging practice as unfair supervisors distribute duties in an unfair manner.
Another emerging ethical issue addressed in the documents is sexual harassment. Sexual harassment involves managers and other senior employees at the organisation demanding sexual favours from junior employees before delivering any services. It is an unethical practice as it entails blackmail before certain duties can be performed. The practice is an emerging ethical issue in organisations as most members of the management demand favours from junior employees before issuing certain favours and promotions. Continued instances of sexual harassment are common in cases of promotions, performance of vital duties, and the increment in salaries. It represents gross lack of ethics among members within the organisations.
According to the two documents, overall harassment is another emerging ethical issue in the organisations. Harassment entails members in higher positions within the organisation taking advantage of junior employees and harassing them at all instances. Harassment occurs even in cases where clear instructions have not been given hence leading to ineffective performance of duties in the organisation. Harassment may also arise in cases where employees and other stakeholders try to raise concerns that need to be addressed for effective organisations’ functioning. Harassment is unethical and discourages employees from performing their duties effectively. It leads to the loss of motivation among employees.
Response to Mandatory Requirements
Mandatory requirements are those that must be satisfied by all organisations to guarantee effective operations. One of the key aspects that represents the fulfilment of mandatory requirements is the maintenance of confidentiality. It is mandatory that all organisations promote the confidentiality of their operations. Information relating to clients and other individuals dealing with the organisation should not be disclosed to other parties without one’s consent. Therefore, the enhancement of information confidentiality is a reflection of a response to mandatory requirements stated in the rules relating to corporate governance in society. As Dandino (2004) states, organizations are always required to put in place effective measures that would ensure that all information relating to clients and other people is protected and safeguarded effectively.
The aspect of promoting accountability, transparency and accountability is also a representation of response to mandatory requirements. The laws of corporate governance and ethics emphasise that organisations must ensure that they put in place effective measures that would ensure transparency and accountability in organisations (Pratt 2009). There must be a measure that would be used to determine the level of accountability and transparency. Thus, the emphasis on the promotion of transparency and accountability reflects a response to mandatory requirements.
The last aspect that represents a response to mandatory requirements is the provision of a safe working environment for employees. As noted earlier, employees are primary stakeholders within the organisations and they help in the achievement goals of the organisation. Employees perform duties with commitment and the law requires that they must be rewarded with a safe working environment that would boost the performance of their duties and responsibilities in organisations.
Aspects of Voluntary Practise
Voluntary practises emanate from the organisation’s willingness to deliver certain duties to the community and other stakeholders. The enhancement of corporate social responsibility is a representation of adherence to voluntary practises. Social responsibility entails the organisation giving back to the community and ensuring that the community and other stakeholders are satisfied effectively. It may involve the development of projects that would boost effective living in the community or the promotion of talent in sporting activities and other activities. It is worth noting that social responsibility emanates from the willingness of the organisation to give back to its stakeholders and ensure that they also live effectively. Therefore, an organisation must always make a decision on whether to support its stakeholders through the promotion of social responsibility.
The promotion of public good is another aspect from the two documents that represents a response to voluntary practices. According to Sison (2008), organisations take the promotion of public interests according to their wishes (p.113). It is a voluntary practice and organisations will always do this according to their aspirations and the goals for the society. It emanates from the interests of the organisation and the need to acquire support from the community in which the organisation operates. Notably, public support is driven by the motivation of the organisation to gain acceptance in the environment of operation and ensure that all targets are achieved with coordination from the community. Therefore, the aspect of promoting public good addressed in these documents illustrates the response to voluntary practises by organisations.
The Documents on Corporate Governance and Transparency at CQ University
It was noted earlier in the report that corporate governance entails a framework of rules, relationships, systems, and processes within and by which organisations are governed. Additionally, transparency refers to the performance of duties in line with the set standards to avert instances of unfairness.
According to the document on the Code of Conduct, corporate governance and transparency at CQ University are excellent. It reiterates significant aspects of corporate governance at CQ University such as integrity, openness, inclusiveness, respect, and the promotion of dignity of other members. This is a reflection that the University upholds significant corporate governance in its operations. Again, the article highlights significant factors such as the aversion of harassment that demoralizes and demeans other employees within the organisation. This is an indication that corporate governance at CQ University is superb and is motivated towards ensuring that all members and stakeholders enjoy effective services. According to this article, corporate governance is also effective at the University as indicated by the core values asserted by the Vice-Chancellor. For instance, the University looks forward to ensuring that public interest is promoted and quality services are delivered. Transparency at CQ University is also asserted by the document. The aspect of transparency is reflected by the document’s reiteration on effective operations that would serve all parties appropriately. Therefore, the document is positive about the aspects of corporate governance and transparency at CQ University.
Accordingly, the document on Workplace Harassment (Bullying), Sexual Harassment, and Unlawful Discrimination Procedures also provides a positive representation of corporate governance and transparency at CQ University. The document highlights vital aspects of corporate governance such as effective procedures of solving conflicts within the University. It states the responsibilities and rights of both the complainant and the respondent. Effective conflict resolution strategies such as one-to-one resolution are efficient and applied at the University to ensure that effective leadership is obtained. The adherence to these procedures is reflective of the commitment of the management to work significantly towards the improvement of CQ University. A third party can also mediate to ensure that conflicts are resolved appropriately and fairness is upheld within the organisation. Corporate governance is also reflected in the document through the emphasis on awareness and the promotion of a proper working environment for all. The aspect of transparency is emphasised in the document through the emphasis on elimination of sexual harassment and the demeaning of all other individuals. CQ University also emphasises on the elimination of unethical practices related to the overall treatment of everyone who enters the University’s environment. Thus, it is significant to note that the document presents an appealing level of corporate governance and transparency at CQ University. This is an indication that CQ University upholds both mandatory and voluntary practices adequately and appropriately as required by the law.
In conclusion, corporate governance entails upholding significant principles and rules that would promote the discharge of excellent managerial functions. Ethics is the rules that help in determination of what is good or bad within the society. All organisations are supposed to work appropriately in line with the provisions of corporate governance and ethical standards in order to ensure that they uphold the required standards and principles. Stakeholder groups such as employees, council members and supervisors at CQ University are represented in both documents. Mandatory practices at CQ University are reflected by the documents’ assertion that confidentiality, accountability, transparency, and the provision of a safe working environment are evident at the company. Voluntary practices are reflected by the provision of corporate social responsibility and the promotion of public interests. CQ University works appropriately in line with the set standards to ensure that effective goals can only be achieved by following these standards. Overall, both documents provide a positive view of the corporate governance and transparency at CQ University. The University upholds these aspects with the aim of ensuring that efficiency is promoted and the appropriate goals are achieved accordingly. Therefore, all organizations must adhere to effective corporate governance, transparency, accountability, and excellent leadership to succeed in their entire operations.
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