Nobody downloaded yet

Corporate Governance & Social Responsibility - Essay Example

Comments (0) Cite this document
Summary
The researcher of this descriptive essay mostly focuses on the discussion of the topic of corporate governance & social responsibility and analyzing the issue of key causes of unethical activity among boards of directors in light of the Australian stock exchange…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER98.3% of users find it useful
Corporate Governance & Social Responsibility
Read TextPreview

Extract of sample "Corporate Governance & Social Responsibility"

Download file to see previous pages For any company wishing to be listed on a stock exchange, it is important that it define its corporate governance policy. Corporate governance is described as a system where companies are managed and directed. Clark (2004) asserts that, corporate governance influences how particular company objectives are achieved and set, how risk is assessed and monitored as well as how performance is optimized. It is quite observable that good structures of corporate governance encourages employees and general companies to create value , control system in relation to risks involved and provide accountability.
There is need for this International Extractive Company to adapt specific corporate governance principles in dealing with actability, disclosure to shareholders, fiduciary duty, and mechanism of control and auditing (Clark 2004). It is very important for this International Extractive Company to understand the right of shareholders and key ownership functions. It is essential for international extractive Company to adapt corporate governance that protect and facilitate shareholders rights. OECD (2004) asserts that, shareholders rights need to include; safe and secure methods of ownership registration, transfer or conveying of shares, timely receive relevant information about the company, allowed to participate in voting during shareholder meeting and finally, be free to either elect or remove member of the board. By so doing, it is evident that shareholders will be able to follow company’s performance in an efficient and transparent manner. The other principle that needs to be adapted is building on corporate governance which recognizes the rights of the stakeholders which should be established through mutual agreements and law as well as encouraging active co-operation between stakeholders and the corporation in creation of jobs, wealth and sustainability of the company financially stable enterprises(OECD 2004). By so doing, it is quite evident that stakeholder’s interest is protected. Further, adaptation of this principle ensures that performance-enhancing mechanisms are adopted through the creation of a proper and efficient employee engagement. If these two principles namely; role of shareholders in corporate governance and rights of shareholders and key ownership function are adopted by this company, the company will be able to perform well within the stock exchange and it will enhance efficiency in its corporate governance(Clark 2004). Question 2: Recommended Corporate Social Responsibility Initiatives that the Board the Board Should Adopt In addition to adapting the above mentioned corporate governance principles, it is important for International Extractive Industry to engage in various corporate social responsibility initiatives. According to Lee (2008), corporate social responsibility is a type of corporate self-regulation normally integrated into a business model. Engaging in corporate social responsibilities will enable this company to have a commitment towards the contribution of sustainable development through working with employees, their families and the general community (Strike et al 2006). It is important for the company to accept various duties presented to it such as sponsoring national and international sporting team. Here, social responsibility will widely be manifested in its legal, corporate, and economic systematic action in recognition on a particular communal responsibility and its attempt to meet the designed social need. There are various key drivers for CSR namely; social investment, transparency and trust, enlighten self-interest and increased public expectations. Enlighten self-interests is important in creating a synergy of ethics which ensures that a cohesive society ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Corporate Governance & Social Responsibility Essay - 1”, n.d.)
Corporate Governance & Social Responsibility Essay - 1. Retrieved from https://studentshare.org/business/1437655-corporate-governance-social-responsibility
(Corporate Governance & Social Responsibility Essay - 1)
Corporate Governance & Social Responsibility Essay - 1. https://studentshare.org/business/1437655-corporate-governance-social-responsibility.
“Corporate Governance & Social Responsibility Essay - 1”, n.d. https://studentshare.org/business/1437655-corporate-governance-social-responsibility.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Corporate Governance & Social Responsibility

Corporate governance and social responsibility investment

...? Corporate governance and social responsibility investment al affiliation: Part A Question 2 Governance of public companies is regulated by governance codes that provide a frame of reference, which is based on best practices. Companies are expected to comply with the codes, or in the event of non compliance, such corporations are lawfully mandated to explain why they depart from the codes recommendations. Accordingly, comply or explain (CoE) and the quality of expectations in particular are anticipated to be the topmost priorities of the European action plan on corporate governance. The...
12 Pages(3000 words)Essay

Corporate Governance, Corporate Social Responsibility and being ethical are essential ingredients for a business to be succes

...? Corporate Governance Corporate Social Responsibility of the of the Corporate Governance Corporate Social Responsibility Introduction I agree that Corporate Governance, Corporate Social Responsibility and being ethical are essential ingredients for a business to be successful. Markkula Centre for Applied Ethics desires to announce enterprise partners of the present enterprise weather in Europe, a nearer gaze at government guidelines, business principle, best practices and attitude polls. In a try to work out how ethics and CSR businesses founded in Europe in evaluation to Australia businesses, eight European businesses and 10 American businesses were studied. These businesses were in evaluation on expertise, power, healthcare... the...
8 Pages(2000 words)Essay

Corporate Governance and Social Responsibility

...0 Introduction Corporate governance and corporate social responsibility (CSR) have emerged as important variables that influence the behavior of organizations today. The reason for this is the growing interest entailed in the growth of consumer activism. The purpose of this report is to outline the reason for such increase in interest and how Nike has been affected in the process in its strategies and the way the company is perceived by the public. The report provides an overview of corporate governance and corporate social responsibility. Then, a discussion of the...
6 Pages(1500 words)Essay

Corporate Governance & Social Responsibility

...?Running head: Alcohol Advertisement Corporate Governance and Social Responsibility Insert Insert Insert 6 October2011 Corporate Governance and Social Responsibility Introduction Business organizations play significant roles in shaping the societies in which they operate. Various business and production companies deal in products that are of use to the public in one way or the other. The companies also employ different individuals to carry out their operations. It is desirable that the organizations should show some concern for the well-being of the individuals that are closely affected by its products...
3 Pages(750 words)Essay

Corporate Social Responsibility and Corporate Governance

...Corporate Social Responsibility and Corporate Governance Contents Corporate Social Responsibility and Corporate Governance 18 1 Introduction 2 Why International firms are showing increasing interests in corporate social responsibility and corporate governance 3 Economic and Social factors 4 Cultural factors 5 Legal factors, global standard and non government organizations 6 Technological factors 6 Managers, shareholders, employees, customers and suppliers 7 Strategic issues involved in addressing corporate social responsibility issues. 7 Conclusion and Recommendation 12 Personal contribution to the development and refinement of the topic 13 Corporate Social Responsibility and Corporate Governance Introduction Corporate... ...
13 Pages(3250 words)Research Paper

Corporate Governance and Social Responsibility

...? Corporate Governance and Social Responsibility Table of Contents 1Introduction 3 2Findings 5 1McDonalds: A Brief Introduction 5 2McDonald’s Stated Position on CSR 5 3McDonald’s Stated Position on Corporate Governance 7 4Critic of McDonalds CSR and Corporate Governance 8 3Conclusion 10 1Nutrition 10 2Lack of Trust by Customers 10 3Environmental Conservation 11 4Giving Back To the Community 11 5Supply Chain 11 6Employees Welfare 11 4Recommendations 12 Bibliography: 13 1 Introduction The issue of corporate social responsibility (CSR) has been debatable for...
10 Pages(2500 words)Essay

Corporate Ethics, Governance and Social Responsibility:

...Corporate Ethics, Governance and Social Responsibility Table of Contents Overview 3 Company Profile 5 Complaints against the Company 6 Role of the Management at This Situation 9 9 Conclusion 11 References 13 Bibliography 15 Overview Ethics, Governance and Social Responsibilities are the vital issues for corporate to deal with in this modern era of globalization. To state about the implications, these three terms are inter-connected to each other. Corporate Governance, to be precise is a grouping of laws, rules and regulations, customs, and processes that in direct or...
10 Pages(2500 words)Term Paper

Questions in a case study in theCorporate Governance & Social Responsibility field

...Corporate Governance & Social Responsibility PART A QUESTION Corporate governance principles recommended to the Board based on the OECD (2004), Sarbanes Oxley Act (2002), Combined Code (2003) and the Australian Securities Exchange (2007) I would recommend the following specific principles: i. Every company should be headed by an effective Board which is entirely in fully focused on the performance and success of the company. (FRC, 2003). This is because for the extractive industry, the board will provide leadership both entrepreneurial and managerial, establish the corporate strategic aims, facilitate human and financial...
8 Pages(2000 words)Essay

Corporate Social Responsibility and Governance: GOOGLE

...Corporate Social Responsibility and Governance: GOOGLE of the of the Task A Google Inc. has always been an organization essentially driven by sustainable and ethical behavior (Richter, 2001, p.140). The Corporate Social Responsibility (CSR) activities of the company have always been much renowned and the organization itself has been an example setter in the corporate world with respect to social responsibilities, ethical principles and sustainability practices. In the last three years, Google Inc. as a globally recognized organization has donated more than USD 353 million...
6 Pages(1500 words)Research Paper

The Corporate Governance Model and Corporate Social Responsibility (CSR) Practices of Walmart

...Corporate Responsibility & Governance Table of Contents Introduction 2 CSR Practices of Walmart 4 Objectives 4 Scope 5 Activities 5 Social Reporting Practices 5 Impact of the US Regulatory Environment on Walmart’s Corporate Governance Model 6 Changes in Walmart’s CSR Practices over Time 7 Conclusion 7 Recommendation 8 References 9 Introduction It will be instantly approved if one states that the concept of corporate governance has existed since the existence of any form of organization (Aras & Crowther, 2012). The idea of corporate governance serves as a model that...
12 Pages(3000 words)Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Corporate Governance & Social Responsibility for FREE!

Contact Us