Business Studies

Corporate governance involves the rights and responsibilities among different corporate participants and affects the relationship between a corporation and its shareholders. Effective corporate governance requires more than simple compliance with the law. Your consulting services have been requested by the CEO of a large international corporation. The CEO is concerned about ethical issues surrounding corporate governance from a global perspective addressing a specific incident with the company. (Note: you will determine the incident.)

The CEO asks you to conduct research and analyze cases involving ethical issues surrounding corporate governance from a global position to guide the CEO as to what he/she should do.

For this discussion you should:

Describe corporate governance ethical incident(s) of the researched case(s).
Explain what was done to remedy the issue(s) or what action was taken.
Describe the result of the action(s).
Propose what you would have the CEO do for their company’s similar incident.
For your response posts, address the actions and results proposed and explain whether you would have taken the same action or a different action.

ANSWER 

Ethical Issues Surrounding Corporate Governance

Workplace Diversity Issues

Discrimination, racism, lack of respect, and prejudice have crept into the working environment. These occurrences have turned explosive and violent in the diversified work environment. The international corporation has been experiencing workplace diversity issues which have resulted in high turnover and created a hostile environment. Employee isolation and workplace diversity along the dimensions of age, race, and gender have influenced employee turnover. Additionally, several challenges arise due to diverse workforces, such as communication issues and hostility. International corporations should understand the organization’s vision, mission, goals, strategies, and policies and take into account the ethical and legal issues in international business.

The company established practices and policies that promoted teamwork and diversity among employees. Proper documentation of diversity policies effectively communicates the organization’s standpoints on diversity (Scarborough, Lambouths, and Holbrook, 2019). Promoting teamwork and communication increasingly reduced workplace diversity issues, generating an inclusive workplace (Osborne and Hammoud, 2017). Employees were encouraged to work in teams and create functional teams that focused on each other’s strengths. Prioritizing communication played a great role in managing workplace diversity issues. Effectively communicating with the employees about the procedures, policies, and practices helped overcome the cultural and language barriers.

Sensitivity training on workplace diversity can create awareness of the coexistence of a diverse range of people to achieve a diverse workplace. Offering training to the employees can help the organization control diversity in the workplace and help the employees be more self-aware (Syed and Ozbilgin, 2019). For instance, sensitivity training enables the employees to remain aware of their prejudices and cultural biases.

Developing policies and guidelines that lead to diversity-related changes, especially around equal opportunity and harassment, can successfully manage workplace diversity. Therefore, this would be an effective approach in reducing workplace diversity issues in the corporation. However, sensitivity training would also boost employee’s awareness of the coexistence of a diverse range of people, thus achieving harmony in the workplace.

References

Osborne, S., & Hammoud, M. S. (2017). Effective employee engagement in the workplace. International Journal of Applied Management and Technology, 16(1), 4.

Scarborough, W. J., Lambouths III, D. L., & Holbrook, A. L. (2019). Support of workplace diversity policies: The role of race, gender, and beliefs about inequality. Social Science Research, 79, 194-210.

Syed, J., & Ozbilgin, M. (2019). Managing diversity and inclusion: An international perspective. Sage.