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Corporate governance Essay Examples

Cadbury Report

...The Cadbury Report was followed by three more major reports: Greenbury (1995), Hampel (1998) and Turnbull (1999). The Greenbury Report responded to the concerns about the level of executive pay rises, especially in the privatised utilities. The Hampel Report reviewed the progress of companies in responding to the Cadbury and Greenbury Reports and made some suggestions for improvement. The Turnbull Report addressed the important issue of how to implement best practice systems of internal control....

Corporate governance ethics

...Corporate governance involves directing and controlling all operations of a corporation. Therefore, all unethical issues are as a result of incompetent corporate governance.  Most ethical problems associated by poor corporate governance include evasion of taxes, not meeting their corporate social responsibilities such as environmental protection and unfair wages to employees and production of poor quality goods to maximise their profits. The problems have led to a dilemma between the corporatio...

Corporate governance

...India, unlike the United States, has created a committee that deals with corporate governance know as the Securities and Exchange Board of India (SEBI). The board that in most cases takes on a trustee role for all the companies in India was created through the adoption of SEBI Act, 1992. The act gives the body statutory powers to be able to carry out its duties and functions. These approach adopted in India is believed to have been adopted from the Ghanaian principle of trusteeship and that it i...

ASIC v Adler

...The section 260A clearly states that a company is restricted from giving financial assistance to a person to buy its own shares in the stock market as it will cause material prejudice. By analysing the case of ASIC V Adler, it can be seen that Adler, who was controlling PEE, was clearly contravened the section of 260A by which giving financial assistance to PEE through HIHC, a subsdiary of HIH, which is also a company controlled by Adler. This financial assistance given to PEE, was then used to ...

Law and Real Estate

...Debra Peterson is currently the Chief Executive Officer of the Pacific Grove Spice Company. The Chief Financial Officer, Fletcher Hodges, and she are trying to figure out what strategy to take to meet the demands of the bank that finances their company. The recent financial crisis had made the credit committee uneasy and they now want Pacific Grove Spice to reduce interest-bearing debt to less than 55% of total assets and the equity multiplier to less than 2.7 times by June 2012. They have three...

The Earnings Management Issue of WorldCom Case Study Report

...ACFE (Assiociation of Certified Fraud Examiners), 2012, 2012 Report to the Nations on Occupational Fraud and Abuse: 2012 Global Fraud Study, Assiociation of Certified Fraud Examiners, Viewed 10 October 2013, http://www.acfe.com/uploadedFiles/ACFE_Website/Content/rttn/2012-report-to-nations.pdf. Ball, R & Shivakumar, L 2008, ‘Earnings quality at initial public offerings’, Journal of Accounting and Economics, Vol. 45, no. 2/3, pp. 324-349. Corporate Governance Principles and Recommendation...

Unethical Practices and Behavior in Accounting

...The situations that led to unethical practices and behavior could have been prevented if the company had the proper internal controls in place. The company did not create and foster a control environment. The management of the company did not establish a culture in which unethical behavior will not be tolerated, and they did not place a high value on integrity. This is illustrated by the fact there are allegations against Mr. Orr, the owner, for misappropriating funds. The company also did not p...

Risk Review: MacVille Ltd

...Contingency planning is undertaken as required. Risk Management review: The Finance, Audit and Risk Management (FARM) committee is required to report at Board meetings on internal controls. CEO: The CEO has responsibility to brief the Directors periodically and as appropriate on the development of policies and procedures to ensure effective and efficient operations, risk management strategies and implementation. External audit: The final audit of financial statements is controlled by an external...

Fayol's Principles Of Management In Mcdonalds

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McDonald’s Company

...Employer should cannot critic idea and accept idea who can develop the company. The secret of McDonald's success is its willingness to innovate, even while striving to achieve consistency in the operation of its many outlets and tried to appeal to wider range of customer. A conceptual skill is the ability to think critically and analytically to diagnose and solve complex problems. The “critical thinking” is a diagnostic skill based on cognitive intelligence who means a competency to think s...

David Myers, Worldcom

...There was also lack of transparency in the organization. That means in the organization two different levels of management did not know about the wrongdoings which they were doing in the organization and there was not flow of information with each other. In any business, the organizational behavior of the company starts from top management. If the top management has high moral, ethical and leadership traits and standards, then so will the employees. The leaders of WorldCom, in this case did not ...

Improvement of internal control weaknes

...He could be responsible towards the inventory to be in and out to production, as the chief this responsible may gain his concern on expense the company money towards the necessary place only and not waste it. Also, If necessary the Managing Director can assigned each cheque been authorized by two person from the appropriate department. * Lastly, any cheque been approve by Finance Manager which the post is lower than Chief Financial Officer. Same goes as the case of approval cheque below than RM ...

Tesco: the UK biggest supermarket

...Governance is the framework that articulates a company's values and supports its behaviours. During the year, we updated our governance framework and processes. An important aspect of these changes was the creation of the Board Corporate Responsibility Committee to ensure that the Board maintains a strategic focus on corporate responsibility in its widest sense, reflecting the importance to the Group of how it engages externally. When a company has significant economic and social scale it is ess...

Stakeholder theory as an organisational management theory supports good corporate governance

...The Academy of Management Journal, 40, 658-72. UPS. 2011. Logistics at the Core: Corporate Sustainability Report 2011 [Online]. Atlanta Georgia. Available: http://www.responsibility.ups.com/community/Static Files/sustainability/2011_UPS_CSR_Report.pdf. WICKHAM, M., & WONG, T. 2009. Stakeholder Management Capability: Exploring the Strategic Management of Dissenting Stakeholder Groups. University of Tasmania. WINKLER, I. 2009. Stakeholder Salienc in Corporate Codes of Ethics [Online]. Availabl...

Minutes of meeting

...If you are wondering about the types of tools you might use specifically for meeting minutes, here are some tools that we found outlined on Quora: Google Docs - Also supports collaborative note taking. [There are sample templates for minutes in Google docs. If you send out a meeting request using Google Calendar, you can attach a Google doc agenda outline. Once minutes are crafted (using the outline), you can simply share the document with the group (using their email addresses.] OneNote (if you...

Major factors in the social environment

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Corporate Governance

...and Shareholder Returns', Australian Journal Of Management (University Of New South Wales), 16, 1, p. 49, Business Source Complete, EBSCOhost, viewed 15 July 2014. Balgobin, RS 2008, 'Board Characteristics that Promote Effective Governance: A Perspective on Trinidad and Tobago and Jamaica', ICFAI Journal Of Corporate Governance, 7, 2, pp. 20-41, Business Source Complete, EBSCOhost, viewed 15 July 2014. Guyana Corporate Governance Code 2011, viewed on 9 July 2014 Kang, H, Cheng, M, & Gray, S ...

CSR of Petron

...EDUARDO M. COJUANGCO, JR.- Filipino, 74, is a non- executive Director of Petron since January 8, 2009.He is also the Chairman and Chief Executive Officer of San Miguel Corporation. He is also the Chairman and Chief Executive Officer of Ginebra San Miguel Inc.; Chairman of ECJ & Sons Agricultural EnterprisesInc., Eduardo Cojuangco Jr. Foundation Inc., and San Miguel Purefoods Company Inc.. RON W. HADDOCK- American, 69 years old, is a non-executive Director since December 2, 2008. He is amembe...

Organizational Structure of Walgreens

...The team decided to restructure the organizational chart of Walgreens. Ultimately, taking responsibilities off the CEO and moving those departments to more specialized officers. In doing so, this will allow the CEO to be more productive because his or her workload is more manageable. The reorganization of these departments under the Chief Financial Officer, Chief Information Officer and Chief Strategy Officer, will make these departments more efficient because they will benefit from their specia...

PR Communication Memo

...It is my recommendation that a successor be appointed as soon as possible, and a meeting should be called with chief investors to smooth any marketplace nerves. Additionally, it is imperative the company develops an action plan to handle the situation in an orderly and professional manner. Staying proactive, calm, and truthful will help reaffirm the integrity of the company and provide reassurance to company stakeholders while impeding further rumors. The press release needs to be delivered to ...

Two contrasting business

...The customer because they want the goods that they buy to be what it says on the packaging, they want the business to Another stakeholder would be the employees, they want a safe environment and good pay for the work that they do. Another stakeholder would be the suppliers; they want good profit from Tesco and they want Tesco to pay them on time. The owners are also important stakeholders because they are affected by the problems that occur in their store, even problems with Tesco cause the stor...

The four basic activities in management process

...Under Ms. Herda's direction, the Time Warner Telecom has introduced data and IP products, expanded its optical network footprint, launched switched telephone services, acquired a regional Internet Service Provider, and turned-up a national IP backbone. In January 2001, Time Warner Telecom completed the purchase of substantially all assets of GST Telecommunications Inc. for $690 million. With this transaction and Time Warner Telecom's expansion into five additional markets, the company offers fib...

Manchester United: Brand of Hope and Glory

...In conclusion the cultural characteristics of Manchester United have changed over the years has changed dramatically and in relation to the industry it has evolved very fast. They are a club who works on building a high reputation and keeping it superior to all other clubs who are seen as their rivalries. This was the main focus in the beginning of the organisation but in a different light compared to today, as discussed previously. Their future is aimed towards staying with the ideas and design...

Benefits to having a CFO as CEO

...It is this ability to negotiate the risks that places the CFO as a highly desirable CEO candidate. The CFO is able to assess the risks and their impact on financial performance. The CFO seems to perform well overall as a CEO. So well that the trend is growing, according to CFO Magazine in 2005, 20 percent of Fortune 100 CEOs were once CFOs, up from 12 percent in 1995. The key to success for the CFO seeking to become a CEO is to round out their experiences. They will possess they technical exper...

Non-Profit Management Case Study: Greenhill Community Center

...Inviting guest speakers or lecturers to the Center for the employees, this will be more focused on the issues about ethical, so the staff will be working professional, and the director will know how to deal with this type of issues, prevent the sexual abuse be happened again. And about the diversity training, it is important that Greenhill serve the community with multi culture and religions, the staff are required to serve with people with different background, also the Center needs to recruit ...

Role of Chief Executive Officer in Strategic Process

...A CEO searches various alternative strategies, evaluates them, and chooses the best alternative for implementation. This role is very similar to decisionmaking role described by Mintzberg. Selected strategy requires effectiveimplementation that is to design effective resources, leadership, andorganizational structure. A CEO not only implements strategies in his or herleadership but also allocates resources, defines organizational structure, andoperationalizes the strategic elements. The CEO als...

The Eddie Stobart business

...Develop and take care of the delivery of a national fundraising marketing and communications programme including digital, web and offline, working with the press team. Make sure all marketing activities exactly reflect the RSPCAs brand. To grow in combination with the local team, suitable support materials, training workshops and advice surgeries. Develop and achieve local volunteer recruitment drives. Keep understanding of good practice, market trends, competitor activity and controlling requir...

Hewlett Packard Spying Scandal

...From the above, we can say that Dunn’s investigation into the leak was simply in compliance with the first principle (Honesty) of the company’s code of ethics. Her intentions were clear from the outset – to probe into an alleged boardroom leak while at the same time respecting the principles of respect and fairness (last two principles) in the investigation. That in itself shouldn’t have been a scandal. It is the methods of the investigation – pretexting that raised controversy and fin...

Costco Ethics

...To guarantee that information is properly shared between the internal departments responsible for Costco’s equity compensation program there is written procedures to be followed. The departments that are mainly responsible for following this procedure are the financial reporting department, and the financial planning department. These departments are mandated to meet for at least three years for quarterly meetings attended with the Chief Compliance Officer, the Chief Financial Officer, the Con...

The Salient Features Of Corporate Governance On Financial Engineering After The Sarbanes-Oxley Act

...Most of the directors and officers are required to hold a certain percentage of their shares for the long term This has replaced the options which they previously had whereby they could dispose off their shares at will (Northrup 2006: 211). The issues required by corporate governance are complicated and costly for many companies and it remains a challenge (Kohn, Kohn & Colapinto 2004:50). With the current credit crisis, it is obvious that the financial institutions will continually be scruti...

Coperate Gorvernance

...* Ensure that shareholders and the financial markets are provided with full and timely information about its activities; * Comply with continuous disclosure obligations contained in applicable Listing Rules and the Corporations Act in Australia as well as industry guidelines such as the Australasian Investor Relations Associations’, Best Practice Guidelines for Communication between Listed Entities and the Investment Community; and Ensure equality of access to briefings, presentations and meet...

Duties and Responsibilities of Ceo

...He is required to have a master of business administration (MBA) degree and at least 10 years' experience in business, preferably in the same industry, background elements that provide him with a broad base of knowledge. Among the things he'll determine are when the company goes public, how many employees to hire or lay off, whether or not to merge with other companies and what companies to acquire. He must also make sure that company policies are clearly communicated to the right people in emai...

The Importance of Corporate Governance in Organizations

...However, people are more likely to perceive their own interests, seeking ways to cut corners and make things look better than they actually are. Corporate governance is therefore of utmost importance in any organization to limit CEO almightiness and protect shareholders interests. Such acts as SOX should be applied by absolutely every organization in order to be fair to everyone, however, not all companies are the same and this Act might not work equally good for every of them. Officials, who wr...

Worldcom Scandal

...Conclusion: A company to have an effective internal control there must be consistency and integration among five major components: 1. Control environment- the people and their integrity, ethical values and competence. 2. Risk and its assessment- the risks the company is facing must be identified and assessed before controls are developed. 3. Control activities- policies and procedures to be established and executed. 4. Communication and information- the company to manage and control its operati...

Concepts of Competencies to the Jobs

...But the novelty of it all excited both the management and the labour force. The board members—all functional heads went out of their way to make Kshirsagar comfortable and the latter also responded quite well. He got used to the ambience of the boardroom and the sense of power it conveyed. Significantly, he was soon at home with the perspectives of top management and began to see each issue from both sides. It was smooth going until the union presented a week before the monthly board meeting, ...

CEO compensation

...This way, CEO pay will be more based on yearly performance of their company. Another suggestion we had was to offer more modest compensation packages, and to spread the wealth CEOs no longer make throughout employees to add to their salaries, benefits, and improving employee working conditions. Out last recommendation was for board of directors to make more restrictions on CEO pay, such as limiting stock options. Conclusion After all of our research we strongly believe that salaries of CEOs are ...

Recent Corporate Scandals in Malaysia

...Due to the absence of such, there are lack of rules and processes or laws by which the company should have abided as to assure veracious operation, regulation and control of business. Weak corporate governance allowed unmonitored transactions leading to personal gains at the expense of the company’s interest, along with unenforced proper disclosure of conflict of interest. The absence of good corporate governance allows the tolerance of corporate abuses hence possibility of fraud to occur shou...

Apply or Explain vs Comply or Else

...To conclude this section of the question, I would say that there has been in increase in the emphasis on philosophical premises from King II to King III. All companies have now been included and the theoretical part of the philosophies are being emphasised. Philosophies are only theories and cannot always be applied as rules can be applied. King III gives corporations the freedom to choose which principle and practice will suit their company the best and apply but only with a good explanation fo...

Leadership Failure at Tyco

...In case of Tyco, leader was the caused of the failure. Later, CEO and senior management had to resign and law indicted them. What happened in Tyco can be called failure of leadership and failure of management in checking unethical practice. All organizations have ethics code in place but it is merely a guideline. Organization should monitor how actively ethical code is followed. Moreover, a leader should take initiative and motivate and inspire the employees to follow the ethical practices so th...


FAQ about Corporate governance


❓ How Tesco and Oxfam businesses are organised

...Oxfam organisation structure is flatter than Tesco as there aren’t much of people working and organising the company. Oxfam organisational structure is geographical as they work around the world in and with alot of countries helping the less fortun ...

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