Question

According to the Business Roundtable, “Effective corporategovernance requires a clear understanding of the respective rolesof the board and senior management and their relationships withothers in the corporate structure. The relationships of the boardand management with stockholders should be characterized withcandor; their relationships with employees should be characterizedby fairness; their relationships with communities in which theyoperate should be characterized by good citizenship; and theirrelationships with government should be characterized by acommitment to compliance.” Discuss what is meant by each element ofthe statement with respect to creating an ethical organizationalenvironment.