Philosophy 2074F/G Chapter Notes - Chapter 8: Fiduciary, Dementia, Green Giant
14 Dec 2017
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Corporate governance: how a company is managed and organized, especially power and accountability, question of who is responsible for who , most corporations: board represents shareholders, in chain of command power flows down and responsibility flows up. Ethics, money and the law: economic dimension of governance. Correlation between governance quality and profit: legal dimension of governance. Held to a legal standard: ethical dimension of governance. What can and should be done when responsibilities conflict. Ozw for canaero before they resigned: canaero: they took advantage of an opportunity in which canaero had a prior and continuing interest, did ozw violate their managerial duties to canaero. Conflicting supreme court judgements: cropper did not violate managerial responsibilities- he was acting as member of the public and not as the manager when he acquired claimes, ozw breached fiduciary relationship with canero. E. g. fiduciary cannot profit from his position as fiduciary. Principals, agents and conflicts of interests: business composed of:
