The UK Corporate Governance Code operates on a comply or explain Essay

The UK Corporate Governance Code operates on a comply or explain basis. You are required to discuss whether this leads to better disclosure or allows companies to operate in any way they choose - Essay Example There are three main principles of ethics in an organization, which are namely; standardization, realistic and driven by business managers. The principle of standardization ensures that the business management formulates uniform policies that govern the entire business without fear or favor. The principle of realistic enables the business to see achievable goals. Meaning, they have to be realistic and genuine. Lastly, the top managers of the organization have to support the business. It is worth noting that ethical issues are responsibilities of all the stakeholders and shareholders (Brink 2011, p. 4) Ethical issues and corporate governance are very important tools of business operations. The following paragraphs will highlight the ethical issues that confront businesses. Fair working conditions; it is the right of the workers to enjoy good working conditions. This means that the conditions must be able to meet the value of service delivery. Unscrupulous employers overwork employees and pay them low salaries. This behavior is vanishing gradually because workers get information as their right day by day. It is because of this that the workers threaten to accuse employers shall they infringe their rights. Consequently, the employers have since become socially responsible (Jose 2008, p. 55). Lately, technology has become a requirement in organizations. Low technological advancement in an organization slows down productivity. Besides, it is unethical because without technology workers use a lot of physical effort. To cab this menace, the organizations have to improve and modernize corporate governance. They can do this through shareholders, stakeholders, and managers. It is socially responsible for the senior officers to form part of the activities (Prabakaran 2010, p. 30). Safety and health of workers is, and should remain a responsibility of all within the organization. It is socially irresponsible to overlook this matter. Some workers work from