Topic– corporate governance.
7) Corporate morality and ethics are now merely a question of exploiting loopholes in legal framework. Examine the statement in the framework of corporate governance.(250 words)
Directive word
Examine- here we have to probe deeper into the topic, get into details, and find out the causes or implications if any.
Key demand of the question.
The question wants us to look deeply into the issue of corporate governance and bring out the reasons as to why Corporate morality and ethics are now merely a question of exploiting loopholes in legal framework.
Structure of the answer
Introduction- write a few introductory lines highlighting some of the recent corporate frauds and misadventures. E.g McKinsey scandal, Goldman Sachs, ICICI bank, IL&FS etc.
Body-
Bring out the reasons as to why Corporate morality and ethics are now merely a question of exploiting loopholes in legal framework. E.g Companies across the world regularly engage in activities that are seriously flawed; Even as governments across the world have sought deregulation as a panacea for their economic woes, the role of private corporations has increased and, in its wake, rent seeking and corruption have followed; With commercial considerations now the overriding motive for large corporations, it is safe to say that the era of companies setting standards of good conduct is well and truly over; global corporations exude enormous power that makes them impossible to control. With their batteries of lawyers and flacks, as well as analysts and raters who are equally complicit, they control access to information about their dealings etc
Conclusion- based on your discussion, form a fair and a balanced conclusion on the given issue.
