Business Ethics and Corporate Governance: Blend of Morality with Compliance

Corporate Governance is widely used to instill the principles of ethical conduct in day to day management of businesses. Emergence of numerous scams, signaled that not everything is fine while doing business by a corporate. Corporations must not behave as ruthless predators who prey upon innocent customers, resources of a country without giving a thought about their responsibilities towards the society, upon which they are depending for their survival. Establishing an code of conduct based on ethics for corporations was thus looked upon as a solution to the tame the greed and protect the interest of the stakeholders. Through corporate governance model is that the balance between profit and protection can be ensured. Transparency, fairness, and accountability, are the important pillars of any corporations and it is duty of the top management of any corporation to ensure the abidance of them. Through this paper an attempt has been made to decodify the term ethics and study its relevance for corporate world.