What is the relationship between corporate governance and social responsibility? What recommendations would you make to improve the effectiveness of today's boards of directors? Provide specific examples from one or more organizations.
This question posed the development of an interesting idea. In the US, corporate governance received much attention after several spectacular failures in recent years with the likes of World Com, Enron, Tyco and others. Although some of these events may be tagged directly to individual greed and power for Koslosky, Ebbers, Skilling and other corporate executives, the fact that boards of directors allowed such actions is astounding.
More recently in a particularly blatant example, HP's board of directors involved themselves in the operations of the company even to the extent of illegal activity at the board level. It points to an internal ...
The 370-word cited solution presents several examples of poor corporate governance in the news recently. A cited article lists five types of issues to demonstrate problems in governance and responsibility. There is a current effort underway to develop an international organization to set standards for Corporate Social Responsibility. Progress is explained in the solution.