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Ethics and governance - Case Study Example

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The appointments of Kong as president of board, and Watson as vice president of the board after the company went public could have a negative impact upon the operations of the organisation. These two individuals had been the CEO and deputy CEO for the company, respectively, when the company was undergoing financial constraints. …
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ETHICS AND CORPORATE GOVERNANCE Ethics and Governance The appointments of Kong as presidentof board, and Watson as vice president of the board after the company went public could have a negative impact upon the operations of the organisation. These two individuals had been the CEO and deputy CEO for the company, respectively, when the company was undergoing financial constraints. Maintaining these individuals within the board brings a negative impression to the organisation as they played significant role in the collapse of the organisation.
2. The board should have sought the accurate financial reports and not have relied on the decisions being made by Kong and Watson. The board should also have been provided with the market information of the telephone networks sector to make an educated judgment regarding venturing into the business.
3. In the collapse of the corporate, executive members were involved in making wrong decisions, through their desires to keep the factual financial position of the company hidden from the general public. The non-executive members failed on their part to monitor the financial performance and relied on information provided by Watson members, which was mostly untrue.
4. Within the corporation numerous ethical issues surrounding the conduct of Joe Kong and Jeff Watson, the CEO and Deputy CEO respectively. These breaches could have been avoided through initiating control measures and monitoring the decisions that these executives made for the organisation. The directors of the company, including independent members, failed to seek substantial evidence of the information being relayed by the executives and this implies laxity in the control.
5. The government should not arrange for a bailout of YCP. This is because government supported bailouts are commonly perceived as government interference with the element of free market. In most cases, such bailouts would be considered promotion of centralised bureaucracy and are against the laws of fair and free trade.
Reference
Rezaee, Z. (2009). Corporate Governance and Ethics (5th ed.). New Jersey: John Wiley & Sons.
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