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The Role of the Corporate Board (Part 1)
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Richard Levy, chairman of Varian Medical Systems, talks with Jim Balassone, executive-in-residence ...

Richard Levy, chairman of Varian Medical Systems, talks with Jim Balassone, executive-in-residence at the Markkula Center for Applied Ethics at Santa Clara University about what makes an effective board.

The board's job is to look after the interests of shareholders, oversee financial performance and compliance, weigh in on strategy, understand risks, and evaluate, compensate and hire and fire the CEO and other senior managers.

Effective boards have to understand the traditional compliance and fiduciary responsibilities. But beyond that, the board has to add value, to bring a different perspective that managers don't have. For this reason, boards should be diverse.

A corporation needs both a heart and a soul. In a person, the heart is responsible for day to day survival, but that's not enough. People need to have meaning or soul.

Companies are similar. They need to make money but they also need to serve the common good. The board needs to make sure someone is looking after the company's soul.

Subject:
Business and Communication
Management
Material Type:
Lecture
Provider:
Markkula Center for Applied Ethics at Santa Clara University
Provider Set:
Business Ethics Videos
Building an Ethical Business Culture: The Role of the Board Part 1
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Michael L. Hackworth, chair of the Advisory Board of the Markkula Center ...

Michael L. Hackworth, chair of the Advisory Board of the Markkula Center for Applied Ethics at Santa Clara University and member and chair of numerous corporate boards, talks with Lon Allen, chair of the National Association of Corporate Directors-Silicon Valley, on what boards can do to promote ethics in an organization.

Doing the right thing builds trust with customers, shareholders, partners, and vendors. High efficiency and productivity result from trust.

The board should ask itself about any decision: Does it optimize the bottom line, which is the duty to create value? Is it legal? Is it consistent with the contracts and obligations we have? Is it ethical?

Subject:
Business and Communication
Management
Material Type:
Lecture
Provider:
Markkula Center for Applied Ethics at Santa Clara University
Provider Set:
Business Ethics Videos
Building an Ethical Business Culture: The Role of the Board Part 2
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Michael L. Hackworth, chair of the Advisory Board of the Markkula Center ...

Michael L. Hackworth, chair of the Advisory Board of the Markkula Center for Applied Ethics and member and chair of numerous corporate boards, talks with Lon Allen, chair of the National Association of Corporate Directors-Silicon Valley, on what boards can do to promote ethics in an organization.

The Number 1 responsibility of the board is to promote ethics in the boardroom. If you think there's an ethical issue, there probably is one.

The board should also monitor C-level executives behavior. Does it reflect the values of the organization?

Finally, the board should be aware of incentives for employees. The way employees are incentivized can promote or detract from ethical behavior.

Hackworth shares a scoring system for the ethics of corporate boards.

Subject:
Business and Communication
Management
Material Type:
Lecture
Provider:
Markkula Center for Applied Ethics at Santa Clara University
Provider Set:
Business Ethics Videos
The Role of the Corporate Board (Part 2)
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Richard Levy, chairman of Varian Medical Systems, talks with Jim Balassone, executive-in-residence ...

Richard Levy, chairman of Varian Medical Systems, talks with Jim Balassone, executive-in-residence at the Markkula Center for Applied Ethics at Santa Clara University about what makes an effective board meeting.

Levy advocates open ended discussion about problems rather than long, canned presentations from management. He advocates regularly reminding the board of the big picture and how individual actions fit with that picture.

Subject:
Business and Communication
Management
Material Type:
Lecture
Provider:
Markkula Center for Applied Ethics at Santa Clara University
Provider Set:
Business Ethics Videos
WorldCom Case Study Update 2006
Conditions of Use:
Read the Fine Print
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A description of the events between the declaration of bankruptcy by WoldCom ...

A description of the events between the declaration of bankruptcy by WoldCom and its acquisition by Verizon.

Subject:
Business and Communication
Management
Material Type:
Case Study
Provider:
Markkula Center for Applied Ethics at Santa Clara University
Provider Set:
Business Ethics Articles
Author:
Edward J. Romar and Martin Calkins
Recap and Documents of 2010 Conference Networking Jesuit Higher Education for the Globalizing World: Shaping the Future for a Humane, Just, Sustainable Globe
Conditions of Use:
No Strings Attached
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A short summary and several longer documents relating to the 2010 Mexico ...

A short summary and several longer documents relating to the 2010 Mexico City conference: Shaping the Future.

Subject:
Business and Communication
Life Science
Social Science
Material Type:
Reading
Author:
Damian Saccocio
The Role of the Corporate Board (Part 3)
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Richard Levy, chairman of Varian Medical Systems, talks with Jim Balassone, executive-in-residence ...

Richard Levy, chairman of Varian Medical Systems, talks with Jim Balassone, executive-in-residence at the Markkula Center for Applied Ethics at Santa Clara University about the relationship between corporate boards and company management.

Levy identifies potential problem areas including micromanagement by the board and creating an adversarial relationship. While he says there is no formula for an effective board, he recommends:

Setting clear objectives to which management has agreed, and regularly reviewing progress in meeting those objectives.

Paying attention to the chemistry of the board and dealing with divisiveness.

Subject:
Business and Communication
Management
Material Type:
Lecture
Provider:
Markkula Center for Applied Ethics at Santa Clara University
Provider Set:
Business Ethics Videos
Advice to First Time Public Board Members
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Markkula Center for Applied Ethics Executive Director Kirk O. Hanson interviews John ...

Markkula Center for Applied Ethics Executive Director Kirk O. Hanson interviews John W. Noble, vice chancellor, Delaware Court of Chancery. Advice for a new corporate director includes preliminary self-assessment: What can you bring to the board? Have you studied the company? What are your strengths and weaknesses? Check on liability insurance as it relates to your role as a board member, and make sure you have the time and energy to do the job. Continually educate yourself about the business and its risks. Due care and the duty of loyalty should be foremost. It's important to remember that the board provides the long-term vision, and is not involved in everyday minutiae. Talk to the experts, including financial advisers and accountants, and be aware of conflicts and potential conflicts ahead of time. Board decisions are just that, not individual decisions. The focus should be on doing the right thing and setting an example. Problems can occur when directors are conflicted and don't have a clear sense of priorities.

Subject:
Business and Communication
Management
Material Type:
Lecture
Provider:
Markkula Center for Applied Ethics at Santa Clara University
Provider Set:
Business Ethics Videos
Anatomy of a White Collar Crime
Conditions of Use:
Read the Fine Print
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Former Federal Prosecutor Hank Shea talks with Steve Brown, a Missouri state ...

Former Federal Prosecutor Hank Shea talks with Steve Brown, a Missouri state legislator who lost his seat and his law license for a conspiracy to obstruct justice.

Subject:
Business and Communication
Law
General Law
Material Type:
Reading
Provider:
Markkula Center for Applied Ethics at Santa Clara University
Provider Set:
Business Ethics Articles
Author:
Margaret Steen
Annotated Table of Contents for the Giving Voice to Values Curriculum
Conditions of Use:
No Strings Attached
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This resource provides teachers an understanding of the Giving Voice to Values ...

This resource provides teachers an understanding of the Giving Voice to Values curriculum which has become popular in recent years with many teachers of business ethics around the world. The Giving Voice to Values curriculum emphasizes that business people must learn the practical techniques of raising and advocating for ethical principles in business, as well as how to analyze a situation to determine what is the right thing to do.

Subject:
Business and Communication
Law
General Law
Social Science
Material Type:
Lesson Plan
Author:
Damian Saccocio
Are Corporate Governance Standards Different for Smaller Firms?
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Kirk O. Hanson, executive director of The Markkula Center for Applied Ethics, ...

Kirk O. Hanson, executive director of The Markkula Center for Applied Ethics, interviews John W. Noble, vice chancellor, Delaware Court of Chancery. Are there different ethical standards depending on the size of the company, and also for entrepreneurial ventures? What about a new company vs an established one? Noble responds: directors must act in an informed way and uphold the needs of the company and its shareholders first and foremost. Directors must keep these principles in mind, whatever the size of the company. But fiduciary responsibilities do vary according to the size of the enterprise. A larger enterprise can do things a smaller one can't. But the bottom line is directors' compliance.

Subject:
Business and Communication
Management
Material Type:
Lecture
Provider:
Markkula Center for Applied Ethics at Santa Clara University
Provider Set:
Business Ethics Videos
Assessing for Ethics
Conditions of Use:
Read the Fine Print
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Dan Pracher, business development manager for Development Dimensions International, explores how to ...

Dan Pracher, business development manager for Development Dimensions International, explores how to hire employees who mesh with the ethical culture of the organization.

Subject:
Business and Communication
Management
Material Type:
Reading
Provider:
Markkula Center for Applied Ethics at Santa Clara University
Provider Set:
Business Ethics Articles
Author:
Anne Federwisch
Bad Business Ethics or Acceptable Promotional Perks?
Conditions of Use:
Read the Fine Print
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A radio station inflates the number of on-air giveaways they ask companies ...

A radio station inflates the number of on-air giveaways they ask companies to provide and then offers the excess as perks to station employees.

Subject:
Business and Communication
Management
Material Type:
Case Study
Provider:
Markkula Center for Applied Ethics at Santa Clara University
Provider Set:
Business Ethics Articles
Author:
Jessica Silliman
Balancing Corporate Giving With Employee Perks
Conditions of Use:
Read the Fine Print
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In tight economic times, how high of a priority should companies grant ...

In tight economic times, how high of a priority should companies grant corporate citizenry relative to other expenses?

Subject:
Business and Communication
Management
Material Type:
Reading
Provider:
Markkula Center for Applied Ethics at Santa Clara University
Provider Set:
Business Ethics Articles
Author:
Kirk Hanson and Patrick Coutermarsh