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MGT547 - Ethics of Corporate Governance - Management Critical Analysis Assignment Answer
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Management Critical Analysis Assignment Answer
Task Assessment 1 - Advice and Reasons to Board may be submitted any time between Monday 18 March 2019 and Tuesday 2 April 2019 (Recommended submission date of Tuesday 26 March 2019) Peter has just completed a 'good corporate governance' course and begun as the new 'forward-looking' director on the board of Lumos Ltd a growing skincare product corporation. This makes him an executive director as he is both employed by the corporation and sits on the board (Director's do not automatically get paid - it is voted for by shareholders). The corporation has its manufacturing plant on the Murrumbidgee river just outside of Wagga Wagga, NSW. Understanding corporate governance is a patchwork of law, guidelines, risk assessment, and reputation, Peter has become concerned that a hugely popular facial scrub launched just before he started uses plastic micro-beads. Some of these beads end up in the Murrumbidgee during production and the scrubs are sold nationwide which means the beads end up in most waterways throughout Australia. The product is turning a huge profit for the company. Unfortunately, a group of shareholders has set up a tent on the forecourt of the corporation's main office in protest because it has been found the micro-beads are causing damage to waterways because fish eat them and die. A meeting of the board of directors has been called to decide whether to cease making the scrub. Peter is aware Lumos Ltd should consider the best interests of the corporation as a whole however, he is conflicted because the product is making the corporation a huge profit however it is damaging the environment. Your task is to go through the issues which should be considered and describe the stakeholders involved and analyze how Peter should approach the issues involved here. This should include setting out relevant principles of corporate governance and why they are important, and consider the role of the board of directors and the stakeholder the corporation in this type of situation when making this decision. In your answer consider the ethical principles and theories of corporate governance and provide a reference to legislation, case law and other factors which should be considered, where relevant. This assessment task will assess the following learning outcome/s:- be able to critically discuss the principles, modes, and techniques of corporate governance and evaluate how these are applied in Australian companies.
- be able to critically evaluate ethical principles, values, concepts and theories and apply these within a corporate governance context.
- be able to critically discuss the principles, modes, and techniques of corporate governance and evaluate how these are applied in Australian companies.
- be able to critically evaluate ethical principles, values, concepts, and theories and apply these within a corporate governance context.
- be able to synthesize the conceptual arguments surrounding the ideas of governance, regulation and the theoretical models of the corporation.
- be able to describe and analyze how internal systems of control are developed and enforced and their relationship to external regulatory frameworks.
- be able to evaluate the impact of the global financial crisis on corporate governance of Australian and foreign corporations.
- Identify the regulatory bodies and other 'soft law' influences involved in corporate governance and the modes and techniques of corporate governance in Australian corporations;
- Synthesize the conceptual arguments surrounding the ideas of ‘governance’, ‘regulation’ and the other influences on the Australian corporation;
- Identify internal forms of influence within corporations and critically evaluate their relationship to external regulation;
- Develop functioning and contextual knowledge of corporate governance principles, doctrine, and main legislative rules.
- be able to critically discuss the principles, modes, and techniques of corporate governance and evaluate how these are applied in Australian companies.
- be able to critically evaluate ethical principles, values, concepts, and theories and apply these within a corporate governance context.
- be able to synthesise the conceptual arguments surrounding the ideas of governance, regulation and the theoretical models of the corporation.
- be able to describe and analyse how internal systems of control are developed and enforced and their relationship to external regulatory frameworks.
- be able to evaluate the impact of the global financial crisis on corporate governance of Australian and foreign corporations.
- understanding of the different forms of corporate regulation and governance in other countries
- synthesis of the conceptual arguments surrounding corporate governance beyond Australia
- ability to identify ethical issues relevant to trans-national corporations and critically evaluate these in the broader context of corporate social responsibility
- intellectual skills of problem-solving, critical reflection about corporate governance and its limitations, analysis of texts and documents and an ability to make informed judgments about current issues
- identification of legal issues surrounding corporate governance
- skills in scholarly research about central issues of corporate governance and ethical principles, including the role corporations in social responsibility
- understanding of the effect of the global financial crisis on corporations in Australia and other countries.
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