CHAPTER 13: Ethics and Governance

Leadership of the firm goes beyond the CEO and other managers and rests with the Board of Directors. This chapter introduces key concepts of corporate governance: Who steers or guides the business at the highest level (the Board and Senior Managers), for whom do they work (shareholders or stakeholders), and how should they steer the firm (what ethical rules and values should guide the corporation). Note: This chapter provides a basic overview of ethical principles, but should not be considered a substitute for a full business ethics course.