The Essential Component of Corporate Governance - 9749 Words

Center for International Private Enterprise ECONOMICREFORM Feature Service ® January 12, 2006 Business Ethics: The Essential Component of Corporate Governance John D. Sullivan, Ph.D. Executive Director, CIPE Aleksandr Shkolnikov, Program Officer, Global, CIPE Given ï ¬ nancial scandals and the resulting new mandates on business, ï ¬ rms ï ¬ nd themselves pressed to develop strong codes of ethics to guide the behavior of board members, managers, and employees. Although the concern with ethics has always been a part of doing business, business leaders today are beginning to think about ethics as a set of principles and guides of behavior rather than a set of rigid rules. In this sense, business ethics is not only an attempt to set a standard by†¦show more content†¦2. The Rights of Shareholders and Key Ownership Functions: The corporate governance framework should protect and facilitate the exercise of shareholders’ rights. 3. The Equitable Treatment of Shareholders: The corporate governance framework should ensure the equitable treatment of all shareholders, including minority and foreign shareholders. All shareholders should have the opportunity to obtain eï ¬â‚¬ective redress for violation of their rights. 4. The R ole of Stakeholders in Corporate Governance: The corporate governance framework should recognise the rights of stakeholders established by law or through mutual agreements and encourage active co-operation between corporations and stakeholders in creating wealth, jobs, and the sustainability of ï ¬ nancially sound enterprises. 5. Disclosure and Transparency: The corporate governance framework should ensure that timely and accurate disclosure is made on all material matters regarding the corporation, including the ï ¬ nancial situation, performance, ownership, and governance of the company. 6. The Responsibilities of the Board: The corporate governance framework should ensure the strategic guidance of the company, the eï ¬â‚¬ective monitoring of management by the board, and the board’s accountability to the company and the shareholders. For more information seeShow MoreRelatedIT/IS Strategy Governance and Legislation1032 Words   |  4 PagesIT/IS Strategy, Governance, a nd Legislation Introduction Information technology and the processes and systems that make up an organizations information technology are now essential parts of any business. The combination of business aims and the information and operations that are a part of any comprehensive information technology system make it an integral part of the functioning of any organization, and proper IT governance and strategy is thus a fundamentally important business process or areaRead MoreCorporate Governance : Good Business Management1658 Words   |  7 PagesThe general idea we have in mind when we hear the term Corporate Governance, is that it is an almost unattainable goal. The reason is the only companies that have corporate governance are big businesses with exorbitant capital, or, at least have shares on the stock-market. It is based on the idea that applying good organizational governance practices, is exclusive and expensive. But those who argue this idea are very far from reality. I must confess that I was one of these people. Currently allRead MoreWhy Talking About Corporate Governance1435 Words   |  6 PagesWhy talking about corporate governance? Good â€Å"corporate governance is synonymous with â€Å"good business management†, that reinforcing surveillance systems, management and administration of a company, making them efficient, effective, honest, transparent and democratic. A company with high quality management will have access to financing (public or private) in better conditions and terms. Make appropriate business decisions to reach a higher level of accounting transparency, more efficiently manageRead MoreLegal And Regulatory Environments And Ethics1712 Words   |  7 Pages1. Title: legal and Regulatory Environments and Ethics: Essential Components of a Fraud and Forensic Accounting Curriculum Forensic accounting is defined as the action of identifying, recording, settling, extracting, sorting, reporting, and verifying past financial data or other accounting activities for settling current or prospective legal disputes or using such past financial data for projecting future financial data to settle legal disputes. Forensic accountant are very important part of theRead MoreCorporate Governance - Role of Board of Directors1622 Words   |  7 PagesCORPORATE GOVERNANCE - ROLE OF BOARD OF DIRECTORS People often question whether corporate boards matter because their day-today impact is difficult to observe. But, when things go wrong, they can become the center of attention. Certainly this was true of the Enron, Worldcom, and Parmalat scandals. The directors of Enron and Worldcom, in particular, were held liable for the fraud that occurred: Enron directors had to pay $168 million to investor plaintiffs, of which $13 million was out of pocketRead MoreWhy Ethics Are Important to Auditors1355 Words   |  6 Pagesconsulting, planning taxes and deregulation preparation. There are generally two types of auditors: External Auditors: These auditors visit from outside the company to access and weigh up the financial statements of their clients or to carry out essential evaluation than necessary. They are usually appointed for a time span of 1 year. Internal Auditors: They are hired by the companies as employees to access and assess the internal direction necessary in the company. They testify directly to BODsRead MoreFunctions Of The Control Activities738 Words   |  3 Pagesreassessment, and the establishment of responsibility and accountability. Nevertheless, effective control activities in themselves do not ensure that the organization has implemented an effective system of internal controls; therefore all five COSO components must be existent to make certain that control activities function correctly and consistently overtime (Edelstein, 2004). Information and communication. Information is necessary to convey internal control responsibilities to support the entityRead MoreCorporate Social Responsibility and Single Strongest Argument1106 Words   |  5 Pagesand explain the Pyramid of Corporate Social Responsibility. Provide several examples of each ‘layer’ of the pyramid. Identify and discuss some of the tensions among the layers or components. PELE 2. In your review, what is the single strongest argument against the idea of corporate social responsibility? What is the single strongest argument for corporate social responsibility? Briefly explain 3. Differentiate between corporate social responsibility and corporate social responsiveness. GiveRead MoreOrganizations and Their Ethics and Social Responsiblity Essay733 Words   |  3 Pages Ethics and social responsibility are integral components in developing a strategic plan while considering stakeholder needs. As such, ethics and social responsibility should be deemed as an essential strategic concern within all organizations. Ethics and social responsibility has the capacity to make or break an organization; the success of an organization’s strategic plan is dependent upon it. This paper will explain the role of ethics and social responsibility in developing a strategic plan whileRead MoreDifference Between Stockholder And Stakeholders986 Words   |  4 Pagesto express their concerns openly. 4. How governance structure in a company can respond to corporate social responsibility Corporate Social responsibility is something where a company takes in to consideration interests of everyone involved i.e. employees, stakeholders, and customers. Governance is responsible to see if an organization is fulfilling its social responsibilities. Governance in some organizations has setup policies and guidelines for corporate social responsibilities, which each organization

How Technology Affects Social Movements And Activists Who...

The Democratic â€Å"Globalization† Virus Technology plays a major role in empowering social movements and activists who work for democracy. While governmental barriers are put around society in order to maintain control of the public eye, people tend to be blinded from the â€Å"globalization† truth that surrounds the first-world environment. Ian Bremmer’s â€Å"Democracy in Cyberspace: What Technology Can and Cannot Do for Us† depicts how technology has the inability to democratize nations without human force. Readers are introduced to the idea of the â€Å"freedom virus†, where technology is making it harder for the government to hide the truth from their citizens. The dual nature of technology is used as a tool to speed up revolution, either connecting its users or creating a barrier among them. In Naomi Klein’s essay, â€Å"Fences of Enclosure, Windows of Possibility†, virtual and physical fences are described as an isolator, keep ing society away from their basic needs that should be granted by the social contract. Physical and virtual political borders created by globalization take away basic human rights and the freedom that all should hold. The promises globalization hold were seen as too good to be true, where government wanted to provide the idea in their own ways, blinding society from what they should really see in reality. As the technological world grows around the idea of globalization, there will be false hope and promises in what the world expects, creating even more barriersShow MoreRelatedThe Occupy Wall Street Movement1982 Words   |  8 PagesThe Occupy Movement is an international activist movement that fosters social and economic change and originated from the actions of the Occupy Wall Street movement (source #7). 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As a result, the notion of civil society is slowly being challenged because state borders are no longer ‘containers of society’, meaning that the state is no longer a ‘fixedRead MoreThe Shift From Modernity And Post Modernity Essay2014 Words   |  9 Pagesmodernity, which is the social life, which has come from 18th century Europe and has been influential around the world (McLennan, McManus, Spoonley, 2010) to post mod ernity a time, which has changed considerably since the time of modernity. Post modernity mainly involves developments and changes within technological, economic, political and social ideas. Throughout my essay I will discuss the main features of the shift from modernity to postmodernity through economics, politics, social ideas, religion andRead MoreThe Masses: Medias Vice Grip On Our Identities2289 Words   |  10 Pagesoutlets, we are digging a bigger hole. The media’s influence has locked us into an impersonal world of social interaction. This impersonal world holds no real emotion that is embodied in us and that stems from us. Throughout the course of history, until the last ten years, our experiences have become trumped or overtaken by the medias vice grip. Once we decide to like a photo over Facebook or another social networking platform, we begin to embark on a journey filled with duplicative, pit-less emotion eRead MoreEffective Practices for Infusing Human Rights a nd Peace Education Middle School and High School Level3877 Words   |  16 Pagesand distributed by the Human Rights Resource Center at the University of Minnesota, allows students and teachers to discover human rights strengths and pinpoint areas that need a more comfortable temperature. Available in Topic Book 1: Economic Social Justice on pp. 67-72 or on-line at http://www.hrusa.org/hrmaterials/temperature/interactive.php. 2. Familiarize Yourself with State-of-the-Art Pedagogy and Facilitation Skills. Create a Human Rights Learning Community with your peers to developRead MoreImpact Of Globalization On An International Scale1857 Words   |  8 PagesFortunately, many places in the world are covered with people who posses tons of possessions. From cellphones, to computers, different types of attire clothes, vehicles, furniture, electrical machinery, plastics, footwear and much more, China is one of the most largest goods exporting countries in the world. Have you ever look at the bottom of any particular item you own and saw the three words of â€Å"Made In China† on the majority of those items? China is a very large manufacturing piece of land that

Management of Industrial Relations Vanuatu †MyAssignmenthelp.com

Question: Discuss about the Management of Industrial Relations Vanuatu. Answer: Introduction Vanuatu since its independence in the year 1980 has been developing noticeably. Being stretched over 12,200 kilometres, the republic is constituted of approximately 83 islands and provides home to 286,759 people. It is noted that among the many South Pacific micro states, New Hebrides became to be the first host centre of for trade unionism. Concerning recent trends there has been a downfall in trade unionism and membership in the nation. Despite of strongly built developmental objectives, the presence of major constraints significantly affects its achievement. According to Lansford (2014, p. 131), poor infrastructure, degraded communication and scattered population are recognized to be the most adversely affecting factors. Moreover, the lowered GDP (4.0%) and financial downturn tends to be affecting development in Vanuatu as well. This particular project takes into consideration the several factors that affect trade unionism and its membership in the republic of Vanuatu. Further, various examples has also been included to compare and contrast outcomes with defined objectives. Discussion As per Blackburn et al. (2016, pp. 101-159), the Prague meeting in the year 1978 resulted in an overall effort to set up trade unions across the South Pacific region. Since the meeting of WFTU, many leaders like John Halfpenny, Ken Douglas and Jin Knox have made great efforts to mould unions not only in the pacific, but also all over Vanuatu. Additionally, a number of important factors such as anti-colonialism and many others have also been taken into consideration to ensure a productive union. However, leaders in republic complained that the downunder representatives have not made noticeable attempts themselves to build up a long lasting unionism (Weber, 2017, pp. 1089-1101). On the other hand, the poor economic conditions of the state have also contributed to the weak development of trade unions as well. In addition to the bounded fiscal growth, opposition by the government acts as a major factor to the decline of trade unionism. As stated by May (2017, p. 451), the VTUC in 1986, charged the Vanuatu`s government and privately controlled industry to suppressing union activities along with treating strikers roughly. It is noted that the ruthless and unsympathetic behaviour of companies towards union members evolved to be one of the most crucial topics for the union congress. In comparison to any other nation like Fiji or Samoa, the fall of trade union and membership tends to be quite unique in nature. Apart from the presence of an unreliable legislative body, leaders in the republic portray themselves to be independent in nature. It is the fake and unproductive individuality of leaders that noticeably affect trade unions. Additionally, the active presence of political parties and leaders who make an effort to retain power and thereby oppose any rivalry directly or indirectly put a pressure of the unions, henceforth resulting in its downfall (Woodward, 2014, pp. 390-401). According to Ortigueira (2013, pp. 825-855), in order to ensure expansion and growth of trade union membership across Vanuatu the VCTU (Vanuatu Trade Council) was set up in the early period of 1985. There has been a huge change in trade unionism scenario over the past few years. Moreover, membership has faced downfall since the conflict and bitter strikes of the republic with Maxime Carlot Korman government in the year 1994. The essential function of trade unions is to provide a direction guide and regulate employment relationship. A key aspect of VCTU is to focus on building up and maintaining union membership. In spite of the fact that the power of a union cannot be based on memberships, its attempt to attract representatives from specialized work groups act as a major step towards expansion among the corporate sector. However Peetz Alexander (2013, pp. 425-442) stated that it is only in the presence of a huge and dedicated group of members in a trade union that makes it recogniza ble and important enough to be taken into consideration by organizations or the government. In the words of Schoeman (2013, pp. 236-253), the existence of trade unions within a firm largely depends on the wants and bargaining power of employees. Over the last few bygone years there has been sufficient decline in trade union membership in Vanuatu. Northrup (2014, pp. 712) mentions that the situation of unemployment acted as the primary reason that gave rise to trade unions in the 1990s. It is the modern trends in legislative environment, business cycle proponents and nature of the unions that has resulted in a downfall of memberships. As compared to the unfavourable situations during the early periods, the low inflation rate, creation of job opportunities and healthy employment relations have worked in favour of both workers and their employers. It is noted that the inconsideration of labour law and regulations by the successive governments of Vanuatu greatly impacted workers. Further, the low amendments in the favour of employment laws, non-prioritization of employee bargai ning power and not picking up these topics in the parliament ultimately lead to the expansion and development of trade unionism across the republic (Levinson, 2013, pp. 511-523). On the contrary, modern growth measures within the state have greatly degraded such concerns. It is noted that the set up Labour Commissioner Office to enact the Trade Disputes Law (UK) have played a great role in dissolving employment disputes. Further, the construction of Arbitration Board by the act has also greatly contributed to bring down trade union memberships as well. On the other hand, the courts in Vanuatu have also been helpful in this matter (Harrison, 2014, pp. 312-320). With a strong system to provide justice, jurisdiction in the court is able to make proper decisions, command financial verdicts, sanction parties and also grant case costs to the winning party, thereby dissolving employment arguments. The development of a stronghold legal, political and corporate environment in the republic has acted as major reasons behind the declining trade union memberships (Lansford, 2014, p. 131). Based on Blackburn et al. (2016, pp. 101-159), the young generation and the worker on low pay scale consider trade unions as irrelevant and often seek the help of government in case of any clash with employers. In good circumstances, labourers do not bother with unions to secure increments in wages and gains since everyone benefits from a firm`s economic prosperity. While in degrading situations, unions cannot shield their members from cutbacks, wage and benefit decreases and harder working conditions. As per Levinson (2014, p. 89), union contracts regularly appear to exacerbate the situation. On the other hand, modern developments in Vanuatu have created a negative and poor public image for trade unions. In some cases, non-members tend to benefit more as compared to the associates of a union, ultimately leading to decline in memberships by them in the near future. Conclusion Based on the above project it can be inferred that Vanuatu`s trade unionism and membership have suffered huge losses from the past few years. It is noted that the restructuring of legislative bodies and dissolving of employment conflicts has played major roles in their decline. On the other hand, construction of new laws, policies and their prioritization not only in the corporate industry, but also in the political surrounding has played major roles in cutting down trade memberships. Further, it can be understood that workers perspectives, wants and bargaining power has played a crucial role in the presence of trade unions. Analyzing the various parts of the project and comparing the earlier situations with modern developments, it can be concluded that expansion and maintenance of productive changes will not only completely remove trade unions, but also contribute towards building up a sustainable environment in Vanuatu. References Bieler, A. (2015).Free trade and transnational labour. London: RoutledgeBottom of Form, p. 612. Blackburn, D., Cross, C., Molinari, E. J., Menon, S., Owens, D. (2016).Trade unions of the world. London : International Centre for Trade Union Rights, pp. 101-159. Harrison, A. L. (2014).Business environment in a global context. New York, NY: Oxford University Press, pp. 312-320. Lansford, T. (2014).Political handbook of the world 2014. Thousand Oaks, Calif: CQ Press, p. 131. Levinson, C. (2013).International Trade Unionism (Routledge Revivals). Hoboken: Taylor and Francis, pp. 511-523. Levinson, C. (2014).International trade unionism. London: Routledge, p. 89. May, S. (2017).Capital-in-crisis: Trade unionism and the question of revolutionary agency. Oxford: Peter Lang, p. 451. Northrup, C. C. (2014).Encyclopedia of world trade: From ancient times to the present. Armonk, NY: Sharpe Reference, Boston, Massachusetts: Credo Reference, pp. 712. Ortigueira, S. (2013). The Rise and Fall of Centralized Wage Bargaining.The Scandinavian Journal of Economics,115,3, pp. 825-855. Peetz, D., Alexander, M. (2013). A synthesis of research on training of union delegates.Industrial Relations Journal,44,4, pp. 425-442. Schoeman, H. C. (2013). The rights granted to trade unions under the Companies Act 71 of 2008.Potchefstroom Electronic Law Journal,16,3, pp. 236-253. Weber, E. (2017). Trade agreements, labour mobility and climate change in the Pacific Islands.Regional Environmental Change,17,4, pp. 1089-1101. Woodward, K. (2014).A political memoir of the Anglo-French Condominium of the New Hebrides. Canberra, A.C.T.: Australian National University Press Bottom of Form, pp. 390-401. Bottom of Form

Journey towards Freedom

Slavery went against the basis of what the American country was founded on; democracy. There were incidences of conflict between the states regarding the slavery issue, prior the civil war. The southern states were for slavery but the northern states opposed slavery. During this time, Africans were brought from Africa to work in the fields of the white man. While working there, they were subjected to forced labor and denied freedom.Advertising We will write a custom essay sample on Journey towards Freedom specifically for you for only $16.05 $11/page Learn More The initial Africans who were brought to America were treated as indentured servants, whereby they were set free after a couple of years. This form of treatment was similar to other European immigrants who came to America, and they had to work for their shipping fee. Later, Africans status changed from a servant to a slave. John Casor was the first African American to be officially regarded as a s lave; he was made a slave for the rest of his life. By 1789, thousands of African Americans were slaves working in plantations especially in the southern states (Horton and Horton, 105-110). This paper will trace some of the outstanding individuals during the fight for freedom. It will find out what they did and the effect of their action. In the end the paper will prove the thesis that; one person can bring about great change. The laws that were passed regarding the Africans stole their freedom and their spirit to live. Obviously the slaves opposed this system but they were met with cruel punishment from their masters. Breach of any of the slave codes was punishable by death. All of the slaves desired to have freedom, but the means of attaining that was still unknown. Going against the master would spell disaster, so the easiest way of a slave to be free, was to escape. Escaping on the other hand, came with its own challenges. One had to plan in advance on the meals and the escape root. Also, running away meant that one had to leave his family including children. Worst of all, was getting caught. A slave would be thoroughly punished, not forgetting that he had been hunted down like an animal. On the brighter side, America had undeveloped sections where nobody lived. These vast woods and wilderness acted as refuge camps for the escapees. In the wilderness, they used to feed on wild fruits and animals. Some of them encountered the Native American Indians and went to settle with them (Hunter, 111-120). Rebellions led by African Americans against the whites were many. Probably a lot of them never came to be known. Fortunately, some people were able to write down about some of the earliest rebellions. One of the earliest rebel leaders was Gabriel Prosser. He had planned to lead a major rebel movement to free hundreds of slaves by killing the white people.Advertising Looking for essay on african american? Let's see if we can help you! Get your first paper with 15% OFF Learn More The movement was postponed due to rain. Some of the slaves reported the plan to their masters who acted swiftly, and arrested a bunch of slaves including Prosser. Prosser was hanged to death together with other 35 slaves. This attempted rebellion only made the rules tighter. For example, movement from one farm to another was restricted, and the freed slaves were not allowed to live in the state; Virginia (Hahn, 58). Denmark Vesey was already a free man by the beginning of 19th century. He was angry at the slavery regime that he had planned to end it using military force. His intention was to kill all the slave owners in Charleston and free the slaves. He took a couple of years planning it but one of his associate revealed his plan. All those involved in the planning were hanged to death. Southern Carolina too burnt the free African American from staying in the state. Perhaps the most terrorizing rebellion was led by Nat Turner. He believed that he was sp ecial, and he was the one who will save all the blacks from the white man. In 1831, while in the company of 6 slaves, he killed his master together with his family in Virginia. He did not stop there; he mobilized more slaves and went on a killing spree. In total, they had killed sixty slave masters together with their families. Turner’s mob was encountered by the federal troopers and about 100 slaves were killed on the spot. Turner managed to escape and hid in the swamps. He was captured three months later and hanged to death (Hunter, 298-301). In the 19th century, all the blacks in the northern part of America were free. They started forming movements which were dubbed as American Anti-Slavery Society. Highly ranked African American leaders and like Fredrick Douglass, Harriet Tubman, Robert Purvis and many more were part of this organization. Surprisingly, the movement also had some white people like Theodore D. Weld, Arthur Tappan and many others. The main aim was to ensure that every single black person in the country was free. They used political and ethical influences to reach their goals, but all that did not seem to work (Hahn, 176). Since the legal way of freeing the slaves was not working, those who were against the slavery devised a secret plan which included a secret route of escaping.Advertising We will write a custom essay sample on Journey towards Freedom specifically for you for only $16.05 $11/page Learn More The name Underground Railroad was the name given to the path which the slaves followed, during their escape. The route included a star on the northern side of the sky which was supposed to be followed at night. In the route, there were houses which could be used to host the running slaves. These houses were called stations. These stations were owned by free blacks and anti-slavery white men. They used to provide the fleeing slaves with basic needs before moving on. Those who were familiar with the route because they had passed it several times were called conductors. Undoubtedly, the best conductor was Harriet Tubman. Some say that she was able to free close to 350 slaves by just 20 trips. In those trips everybody made it. The railroad operated for about 65 years, and within that time, over 40,000 slaves had used it to escape to Canada (Hunter, 350). 1860 turned out to be quite a significant year in the fight against slavery. That was the year Abraham Lincoln was elected as the 16th president of the United States. The southern states formed a separate union from the north. The president was against slavery and the southerners still regarded the blacks as slaves. Lincoln was determined to unite his country, but the contradicting interest in slavery, made the southern and the northern states go to war. The northern blacks and the free southern blacks joined the union army as a way of proving that they were equal to white men. In both camps though, there was reluctance in including t he blacks into the army. As the war progressed, many slaves took that opportunity to cross to the northern side. Soon, there was need for fighters in the union camp. Lincoln agreed that only the freed slaves could participate in the battle. The loyalty of the black was put at question in the union camp but after Fort’s glorious moment, all that changed. Fort Wagner was in the 54th Infantry and took charge of the company after its leaders had died. He led the infantry to defeat the 54th Massachusetts volunteer infantry. He received a medal of honor for his bravery; which was a first for a black person. The war later ended in 1865 (Horton and Horton, 499-505). After the war, the nation needed to be reconstructed. It was now apparent that the African Americans were going to be a part of United States of America. In 1868, a law was passed that allowed African Americans to have full citizenship in America. In 1870, they were allowed to vote. The short reconstruction era was the fi rst period where real effort was put to ensure that all African Americans achieved their long waited freedom. Afterwards the freedom the blacks were waiting for was halted by Jim Laws. He denied the African Americans equal justice (Hunter, 400).Advertising Looking for essay on african american? Let's see if we can help you! Get your first paper with 15% OFF Learn More The men and woman discussed in this paper all did some daring things. Some of the consequences were negative rather than positive. The rebellion of people like Prosser only made the conditions of both the freed and slaved blacks difficult. At first, their actions seemed to have a negative result but in the long run, their efforts provided motivation for others to keep on fighting. Tubman and Douglass formed groups to free the slaves. Later, only the effort of a few individuals resulted to some of the slaves being freed. From the accounts that happened during the struggle for freedom by the African American, it is safe to conclude that a single person can make a difference. Works Cited Hahn, Steven. A Nation under Our Feet: Black Political Struggles in the Rural South from Slavery to the Great Migration. New York: Belknap Press of Harvard University Press, 2005. Print. Horton, Lois E and James Oliver Horton. Slavery and the Making of America. Oxford University Press: London, 2006. Pr int. Hunter, Tera W. To ‘Joy My Freedom: Southern Black Women’s Lives and Labors after the Civil War. New York: Harvard University Press, 1998. Print. This essay on Journey towards Freedom was written and submitted by user Luka Silva to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.