20. The management of Bendigo Ltd likes to think that Bendigo is regarded by its many stakeholders, including its employees, as being a good company with strong ethical values Bendigo has in existence a carefully written and widely available "Bendigo Code of Conduct" In a recent management training session, the following observations were made. Which of the following is the most likely to be NOT appropriate? A. The CEO of Bendigo told her senior management team that in her opinion "the way in which we allocate rewards and status, especially to our junior staff, is relatively unimportant. Far more importantly, it is the manner in which we treat our customers that has the most important impact on the ethical culture affecting our organisation" B The CEO of Bendigo further stated . ... and this ethical culture is important. This is because the everyday employees of Bendigo Ltd are likely to be happier working at Bendigo Ltd and are likely to work harder if they perceive the ongoing existence of good ethical values" C. The Chair of the Board of Bendigo also addressed the senior management team and said "... the Board considers that the existence of our strong written code of ethical conduct, applying to all employees, will be more trusted by our staff if all of you senior managers within Bendigo consistently make decisions that are ethical in nature D. The Chair of the Board of Bendigo concluded by stating ... "remember that our employees are less likely to behave ethically themselves if they believe that Bendigo Ltd merely pretends to have an ethical culture" Module 3 Corporate Governance 21. Which term is used to refer to arrangements that seek to ensure that the actions of the board of directors and executive management are performed in the best interests of the company and its shareholders? A. Utilitarianism B. Stakeholder theory C. Corporate governance D. Corporate social responsibility