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The public confession of fraud by Ramalinga Raju speaks of integrity still left in the individual. His acceptance of guilt and blame for the whole fiasco shows a bright spot of an otherwise tampered character. After quitting as Satyam's Chairman, Raju said, 'I am now prepared to subject myself to the laws of land and face consequences thereof.' Mr. Raju had many ethical dilemmas to face, but his persistent immoral reasoning brought his own demise.

Satyam’s fraud spurred the government of India to tighten corporate norms to prevent recurrence of similar frauds in future. The government took action to protect the interest of the investors and safeguard the credibility of India and the nation’s image across the world. It has forced the government to re‐write corporate governance rules and tighten the norms for chartered accountants. Some of the regulations include promotion of shareholders’ democracy with protection of rights of minority shareholders, responsible self‐regulation with adequate disclosure and accountability and lesser government control over internal corporate processes, voluntary corporate governance code, an institution of mechanism for whistle blowers, and a cap at 10 percent on the revenues coming from a single client to an audit firm. Promoters should be prohibited from interfering in the recruitment of independent directors. Independent directors should have challenging, skilled ID’s, who have time to devote to the business, rather than well known faces. Additional lessons include having an effective ‘whistle blower policy’ in place, education on ethical values, criteria for remuneration to key personnel, and strengthening of quality review.

Lasting solutions can only be found by transforming human consciousness through an inner discipline and higher moral reasoning. A company can build sustainable competitive advantage through ethics, values, excellence, quality, social responsibility and human development. An integrated, value based vision of leadership and governance will go along in creating corporate governance. A transformed organizational culture which pays highest attention to ethical conduct and moral values will strengthen sustainable roots of the company. Transparency and effective auditing and regulatory checks through internal and external auditors and monitoring agencies will help establish long lasting credibility for any company. Companies should gather feedback, measure effectiveness, and continually improve their code of conduct. They always distinguish between opportunities and temptations. No matter what heights a person may reach, character must be maintained at any cost. Companies must take a step back when presented with challenging decisions and individuals must listen to “the little voice in their head” in complying with law and to their heart in dealing with people. When making corporate decisions, it is important to not lose sight of the individual’s ethical reasoning.

Personal ethics, self‐discipline, and high moral reasoning are critical to avoiding unethical behavior. Some of the advantages of these elements include avoiding unethical behavior, performing f本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。