According to the Business Roundtable, Effective corporate governance requires a clear understanding of the respective roles of the board and senior management and their relationships with others in the corporate structure. The relationships of the board and management with stockholders should be characterized with candor; their relationships with employees should be characterized by fairness; their relationships with communities in which they operate should be characterized by good citizenship; and their relationships with government should be characterized by a commitment to compliance. Discuss what is meant by each element of the statement with respect to creating an ethical organizational environment