Ethical behavior is legally governed rather volunteered by organizations

Corporate Organizations, in todays cut- throat competition and globalized economy are forced to focus to improve their bottom line. Corporate organisation or estimable practices are limited to a level which is mandatory as per laws. Genuine commitment to ethics is like a needle in haystack. There are various elements to ethical behavior expected from the make-ups Accounting transparency Enron and Worldcom are glaring examples where ethics were compromised to maintain profitable image of the organization.Accounting theatre Arthur Andersons creative accounting and ulterior motives of management crippled investors confidence to the nadir, resulting in bankruptcy/ closure of all three organizations. Leading by example As per data, US CEOs were paid 42 times the average workers pay in 1980, to 85 in 1990, and then skyrocketed to 531 times by 2000. leading teams of organizations are paid everything to show healthy growth in turnover and profits, for shareholder to be exited at stock m arkets.No CEO is paid to exemplify ethical leadership at Wall Street. Child labor Many corporate, primarily in apparel segment, overlook the extreme levels of child exploitation in triad world countries. In absence of strict law or policy, child labor is another big area which is not effectively monitored and contained. Summary though state (U. S. Securities and Exchange Commission) try to put accounting and auditing system, Corporate Ethics remain an Oxymoron.Ethics, like democracy, is a lot easier in theory than in practice. It would be imperative on regulatory bodies and responsible corporations to take lead in showing value in becoming ethical organization. Moreover, shareholders also should reward organization which exhibit transparency and good quality corporate governance. References Munzig P G, Enron and Economics of Corporate Governance Stanford University, (June 2003), (http//www-econ. stanford.edu/academics/honors_theses/theses_2003/Munzig. pdf) Holmstrom, Bengt and Stev en N. Kaplan, The State of US Corporate Governance Whats dependable and Whats wrong? National Bureau of Economic Research Working paper 9613, (2003) Jense, Michael and Kevin Murphy, 1990, Performance Pay and Top Management Incentives, Journal of Political Economy, (1990) family/October 1996 edition of At Work emailprotected com, byBerrett-Koehler Publishers. Jon Entine is a writer and Emmy