Ethical principle
The findings of this study indicate that ethical principle is the belief manifested by the corporation. The data
revealed that ethical principle comes in the form of corporate philosophy. Corporate philosophy brings forth the
meaning of the corporation beliefs that are commonly translated into the culture adopted in the corporations.
Mission and vision is part of the corporate manifesto termed as the corporate philosophy. The findings of the
study suggest that mission and vision of corporations stimulate inclusive governance practices. The respondents
revealed that corporate members are constantly reminded of their respective corporations mission. For example,
the respondents revealed that the corporate mission is often documented and clearly displayed at the premises of
the corporations such as at the entrance of the premises It was also revealed that the majority of the corporations
that addressed integrity as their corporate mission, communicate their philosophy through documentation.
Company no. 2 for instance, linked their business activities with integrity for all levels of management. The
chairman, for example, constantly, highlighted integrity as the foundation of their business activities. Due to its
nature of business (i.e. financial services), the company implanted integrity into the business activities. For
companies involved in financial services, corporate reputation is crucial to sustain their business. Previous study
also supports the contention that mission and vision contribute towards corporate practice (Svenson &Wood,
2004).
Ancillary findings related to corporate philosophy were also shared by several respondents. For example, as
mentioned by the respondent from company no.1, corporate philosophy should not be influenced by factors that
could destroy the corporation. The respondents referred to political agenda as factors that could destroy
corporation reputation. As claimed by respondents, political agenda should not interfere with the mission and
vision of corporations. Respondent no. 1, voiced his concern regarding the corporate philosophy of the
government linked companies. He believes that many of the corporate decisions are influenced by third parties.
In his opinion, the issue of corporations having to deal with interference from third parties raises the concern for
conflicting governance interest. This, based on his informed view, could divert the mission and vision of the
corporations, and impact the corporate accountability towards the stakeholder and society.
The findings revealed an interesting result related to the ethical principle. The respondents highlight that
corporate ethical principle requires a navigator. The navigator is positioned in the corporations to guide ethical
behavior among corporate citizens and external parties related to the corporations. The respondents highlight
that commonly there are certain individuals that hold positions in the corporation that are able to assist the
corporation to realize the corporate philosophy. General findings indicate: 1) top management such as chairman,
board of directors, 2) middle management such as company secretary, and 3) external actors such as independent
body, are actors that are able to establish the corporate philosophy. The research termed the above position as
ethical position. Deliberation of the ethical position is explained in the next section.