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Due Date: Friday, Week 8

Essay by   •  May 16, 2012  •  Essay  •  500 Words (2 Pages)  •  1,425 Views

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Due Date: Friday, Week 8

Length: 2300-2500 words. Do not include references in this count.

Assignment

Your answer should include legislation and relevant case law.

1. Discuss the following;

a) How is good corporate governance achieved and how does it assist with the framework of rules, relationships, systems and processes within an organisation?

b) By which authority is it exercised and controlled in corporations"?

c) Why is this concept important to Australia?

d) What is the role of the Board and Management?

e) How does the Board of Directors add value to a company?

f) How can companies promote responsible and ethical decision-making?

g) How can an organisation respect shareholder's rights?

h) How is power divided between the Board of Directors, individual directors and shareholders? Why power is divided this way? Does this division of power create any issues? If so, for whom?

i) How is the liability of directors limited? How is the liability of shareholders limited? Are there any problems with this limitation of directors and shareholders liability?

2. The following are important considerations for good corporate governance. Discuss.

a) Conflict of interest;

b) Best practice for a board of directors;

c) Managing a board's performance;

d) The protection of company funds;

e) Proper disclosure of price-sensitive information;

f) Transparency and sensible decision-making;

Do You Have a Good Mission Statement?

Source: Reprinted from Long Range Planning, Vol. 30, No. 6, 1997, Campbell,

"Mission Statements," pp. 931-932. Copyright © 1997 with permission of Elsevier.

Andrew Campbell, a director of the Ashridge Strategic Management Centre and a long-time contributor to Long Range Planning, proposes a means for evaluating a mission statement. Arguing that mission statements can be more than just an expression of a company's purpose and ambition, he suggests that they can also be a company flag to rally around, a signpost for all stakeholders, a guide to behavior, and

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