Corporate Governance and Ethical Responsibilities
Corporate responsibility requires that an organization operates with full attention and respect to ethics, environment and commitment to positive social impact. In this case, the organization is expected to take care of both the interests of the internal as well as the external stakeholders. Internal stakeholders are people who are affected by the organization and are involved in the operations of the organization while external stakeholders are people who are affected by the organization but are not involved in the operations of the organization (Friedman &Miles, 2006).
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