• About UGM
  • SIMASTER
  • SINTESIS
  • Public Information
  • SDGs
  • English
    • Bahasa Indonesia
    • English
Universitas Gadjah Mada Universitas Gadjah Mada
Faculty of Economics and Business
  •  About Us
    • Overview
    • History of The Establishment
    • Mission & Vission
    • School Values
    • School Leadership
    • Senate Leadership
    • Department Leadership
    • Study Program Leadership
    • Unit Leadership
    • Faculty Advisory Board
    • Annual Report
    • Campus Facilities
    • Visual Identity
    • News Room
    • The 70th Anniversary
  • Academic Programs
    • Undergraduate Program
    • Master Program
    • Doctoral Program
    • Profession Program
    • Short Academic Programs
    • Professional Programs & Certification
    • International Undergraduate Program
    • International Doctorate in Business (IDB)
    • Academic Calendar
    • Rooms and Events
  • Faculty & Research
    • School Memberships
    • School Accreditation
    • International Networks
    • Faculty Members
    • Visiting Professor & Research Fellows
    • Professional Staffs
    • Publications
    • Published Journals
    • Working Papers
    • Fields of Study
    • Supporting Units
    • International Conference Partnership
    • Call for Papers
    • Community Service
    • Faculty Library
  • Admission
  • Home
  • News

Synchronizing Practices of Ethics and Corporate Governance in MSMEs

  • News
  • 14 July 2023, 11.56
  • By : Admin
Dr. Syed Hamid Aljunaid

Thursday (13/7), entering the 12th lecture of Global Summer Week (GSW) 2023, the Faculty of Economics and Business Universitas Gadjah Mada (FEB UGM) presented Prof. Dr. Syed Abdul Hamid Aljunid lectures in Ethics and Governance at The International Center for Education in Islamic Finance (INCEIF) University. Prof Syed discussed the importance of promoting ethics and governance in private companies, including Micro, Small, and Medium Enterprises (MSMEs), as well as the related challenges. In this discourse, one of the questions discussed is whether ethical discourse should be the same between companies listed on the stock exchange and MSMEs. In addition, can ethical theories be applied in the same way when understanding ethics in SMEs?

Prof. Syed then continued that another challenge is understanding ethics and responsibility in a socio-political context that involves corruption and an overemphasis on exchange values ​​in business. He then detailed that in the context of companies that are not registered (not yet IPO), including MSMEs, there are several problems and challenges related to ethics and governance. Awareness and expectations regarding ethics and corporate governance are often poorly understood. Many companies think that avoiding punishment is sufficient to satisfy demands for ethical behavior. In addition, challenges companies must face include vulnerability to corruption, pressure to be economically efficient and ethical simultaneously, lack of resources and training to apply good practices in ethics and governance, and lack of reporting policies and procedures.

According to Prof. Syed, the government must take the initiative to encourage companies to adopt best practices in ethics and governance. Several steps that can be taken include conducting background checks for individuals who will become directors, training covering aspects of company law, corporate governance, ethics, and sustainability, as well as providing incentives to companies that have certified directors. In addition, the government can provide training and consultancy on ethics and governance and encourage efficient and transparent procurement practices of goods and services in the public sector.

In conclusion, Prof. Syed explained that in order to achieve ethics and good governance, companies must understand their responsibility in developing corporate integrity, create appropriate frameworks, and track the effectiveness of these frameworks. The directors’ strategies and policies must pay attention to management to deal with a volatile market environment, including climate risks, disruptions in supply chains, increasing global and social polarization, socioeconomic imbalances, and the impact of technological changes on ethics and values ​​themselves, he added. This lecture ended with a discussion and question and answer session on ethics and governance, to which GSW 2023 participants enthusiastically contributed.

Reportage: Hayfaza Nayottama 

Views: 329

Related Posts

Fajar Munichputranto

The Story of Fajar Munichputranto, Double Degree MBA Student at FEB UGM and LPDP Scholarship Recipient

News Friday, 24 October 2025

Not everyone dares to step out of their comfort zone to pursue a new calling. Fajar Munichputranto, a student of the Master of Management Program at FEB UGM and recipient of the LPDP Scholarship, chose to take that leap.

Mubyarto Public Policy Forum 2025

FEB UGM and ANU Hold Mubyarto Public Policy Forum, Highlighting Welfare Reform in Indonesia

News Friday, 24 October 2025

The Faculty of Economics and Business, Gadjah Mada University (FEB UGM), in collaboration with the Australian National University (ANU), once again held the Mubyarto Public Policy Forum 2025 on Friday (24/10/2025) at the Function Hall, 8th floor of the FEB UGM Learning Centre Building.

FEB UGM

FEB UGM Implements Water Saving Programme to Support Sustainability

News Friday, 24 October 2025

The Faculty of Economics and Business, Gadjah Mada University (FEB UGM) continues to demonstrate its commitment to environmental sustainability through various environmentally friendly initiatives.

Wisnu Setiadi Nugroho

FEB UGM Economist: Young People Find It Hard to Get Jobs, Government Policies Still Short-Term

News Wednesday, 22 October 2025

Government policies addressing employment issues are often piecemeal and short-term in nature. Economist and Lecturer at the Department of Economics, Faculty of Economics and Business, Universitas Gadjah Mada (FEB UGM), Wisnu Setiadi Nugroho, S.E., M.Sc., M.A., Ph.D., highlighted the increasing difficulty young people, including graduates from top universities, face in finding jobs that match their competencies.

“Many of the government’s current policies tend to be patchwork and short-term.

Latest News

  • The Story of Fajar Munichputranto, Double Degree MBA Student at FEB UGM and LPDP Scholarship Recipient
    24 October, 2025
  • FEB UGM and ANU Hold Mubyarto Public Policy Forum, Highlighting Welfare Reform in Indonesia
    24 October, 2025
  • FEB UGM Implements Water Saving Programme to Support Sustainability
    24 October, 2025
  • FEB UGM Economist: Young People Find It Hard to Get Jobs, Government Policies Still Short-Term
    22 October, 2025
  • FEB UGM Graduates 312 Postgraduate Students
    21 October, 2025
Universitas Gadjah Mada

Universitas Gadjah Mada
Faculty of Economics and Business

Jln. Sosio Humaniora No.1, Bulaksumur, Yogyakarta, Indonesia 55281

Map & Direction
More Contact Information

Faculty Directory

  • Public Information
  • Room Management
  • Asset Management
  • Cemetery Management

Student

  • Student Community
  • Student Services
  • Career Development
  • International Exposure
  • Scholarships
  • Internships

Alumni

  • Alumni Community
  • Alumni Services
  • Tracer Study
  • Jobs & Internships
  • Scholarships

Social Media

© 2025 Faculty of Economics and Business UGM

DisclaimerSite Map

💬 Need help?
1
FEB UGM Official WhatsApp
Hello 👋
Can we help you?
Open chat
[EN] We use cookies to help our viewer get the best experience on our website. -- [ID] Kami menggunakan cookie untuk membantu pengunjung kami mendapatkan pengalaman terbaik di situs web kami.I Agree / Saya Setuju