Leadership theory

Developing an Ethical framework

It is possible to draw out from the above Report some useful indications about which ethical guidelines Corporations would be ensuring.

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  First, it appears that a sufficient level of transparency plays a pivotal role. A transparent corporation, as we have seen, is frequently longer-lasting, more democratic internally, better fits social needs and it is more respectful of legal responsibilities.
  
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  Secondly, creation of a code of conduct or a code of ethics becomes a vehicle for respecting those “non-business” demands. This code of conduct needs to be distributed to employees (including top management) together with training and courses about its contents and application.
  
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  And thirdly, an expert ethical manager, responsible for all corporation ethical questions, should be appointed.
  

The above guidelines represent a minimum ethical standard to which all corporations should conform.