Corporate Governance & Risk Management

Question: Discuss about the Corporate Governance Risk Management. Answer: Introduction Corporate governance refers to a framework of practices, rules, and processes by which a firm is directed and controlled (Tricker, 2015, p. 30). It mostly involves balancing the majority of the company's stakeholders such as suppliers, stakeholders, customers, management, financiers, community and the government. On the other hand, risk management is the recognition, evaluation, and prioritization of risks accompanied by organized and economical utilization of resources to reduce, survey and control the possibility and effect of unfortunate events (Olson, 2008, p. 95). Therefore, this paper seeks to evaluate the case study presented that is based on real events involving an Australian bank by responding to the given questions. Actions were Taken and Behavior Displayed by Senior management Regarding Enterprise Risk management. Joe Bloe, a newly hired financial planner, managed to discover Donald Vanvos illegal means of notching sales and informed the financial planning manager. To his astonishment, the manager ignored the claim since Don was believed to have management protection because of his ranking as a top earner for Tera Australian Bank (TAB). The move shows the fraudulent nature of the administration and incompetence because of covering up for the accused considering that embezzlement of the bank's financial resources and exploitation of customers was happening. The investment portfolio of clients began to drop thus raising complaints, and Bloe again approached the middle management to have the issue resolved. Instead, he was given a nonchalance and evasive response. The administration simply showed disregard of Bloes claims. TABs resolution to embark on a formal investigation was a noble action though the growing public pressure prompted it. The senior management facilitated the processing of clien ts by legal department to obtain protection of legal privilege in the likely event of a lawsuit. Some of the dishonest financial planners were allowed to resign and leave for other companies alternatively giving them the boot to avoid "bad press." Whistleblowers' anonymous email forced TAB group security to conduct an investigation within TAFP that revealed the majority of Don's client files were missing. The management decided to increase the officials annual bonuses amidst gloomy media stories of incurably ill victims who had lost their life savings because of the rogue planners. The scheme by TAB to bear minimal expenses in the compensation by isolating each victim to have limited knowledge regarding the greater plan of things, that is, to divide and conquer was unethical. After the conclusion of the investigation, Don is suspended for fraud and compliance failures. Frustrated clients continued to file complaints against the bank demanding for explanations. And since Tera Austral is Financial Planning (TAFP) which is a subsidiary found under the wealth management division of TAB needed someone to discourage the clients from following up their complaints. It reinstated Don and promoted him to become a senior financial planner. The move showed the dishonest behavior and illicit nature of the bank's management responsibilities. The actions and behavior of the banks management posed high risks. For instance, embezzlement of a companys resources can lead to financial and management crisis in the long-run (Tourani, 2010, p. 71). The bank risked being closed down permanently by the federal government. In this case, the bank customers risked losing their entire savings due to misappropriation of its financial resources. The bank's reputation was also on the verge of being damaged in addition to uncertain economic repercussions. TAB's customer satisfaction ratings have incurred a substantial drop from first place at the beginning of 2014 to the third position in September 2014. It would make the management to lose one-quarter of their long-term rewards. Poor risk management practices can lead to potentially absurd outcomes (Fraser, 2010, p. 300). For instance, the initiation of TABs new compensation plan contributed to new claims emerging daily. The banks top management inadequate responses such as cover-ups, dec eit, and ignorance aggravated the situation (Friedman, 2011, p. 51). For example, presently, a compensation of A$ 52 million has already been paid out, with up to A$ 250 million needed in due course. Being in Venus position, I would develop a financial integration and compensation system that bring together all the key stakeholders by targeting the affected clients. It would aim at finding out the amount of embezzled funds and defining the necessary procedures of tracing them to compensate the victims. I would also follow up the filed complaints against Don and his associates to make sure that justice prevails and redeem the image of the bank in the public domain. To avoid a similar scenario in the future, I would draft a clear framework of financial planning which the officials will follow in their respective positions. It would include a monthly auditing of the banks transactions of financial planning. Principal Areas of Concern in TAB's Remuneration Plan Pay refers to compensation or payment received for services and employment and includes the basic salary and economic benefits or bonuses given to an employee during employment (Sheenan, 2012, p. 135). One of the issues of concern about the bank's remuneration plan is that more than half of its financial planner's sum of annual compensation relied on short-term incentives like bonuses. The second issue is pegging commissions on the risk levels of investment property sold. The third issue is persuading the employees through the unforgiving notion-meet your sales target or give up your rice bowl. The mentioned issues nurtured an aggressive culture amongst the TAB's financial planners through enthusiastic sales- driven coupled with exceedingly short-term remuneration incentive plan. It made Don and his colleagues' obsessed with the uninspired pursuit of bonuses with a scant place for honesty. The changes that I would introduce to minimize agency conflicts on remuneration is restructuring the current payment scheme to incorporate other aspects such as transparent appraisals based on both performance merit and ethical code of conduct being upheld by employees. Evaluation of ASIC Actions during the Financial Planning Scandal The fact that Australian Securities and Investment Commission (ASIC) received a report from the whistleblowers and opted for discussions with TAFP shows some level of incompetence and biases. It resulted in the standard solution to supervise Don closely and subjecting his advice to vetting before approval. Instead, they should have established an independent commission to investigate the claims thoroughly. Since ASIC is commonly seen as one of the most untrustworthy regulators in the finance industry, it might have crippled its efforts in the fight against fraudulent financial institutions. ASIC has established an office of whistleblowers to facilitate swift response to claims and began an organization-wide advancement exercise regarding its communications and translucency shows its renewed desire and commitment to executing its mandate. The ASIC could face various problems in conducting their investigation like hostile individuals, misleading claims, and incompetent investigators am ong others. Role of the media in Promoting Good Governance Good governance describes how public institutions administer affairs of the society and control public resources (Solomon, 2007, p. 340). Such policies help in fostering participation by citizens through reporting on aspects of decision making processes and granting stakeholders a voice in that practice. They assist in promoting human rights denouncing violations and increasing awareness among citizens about their rights. The media also encourages vigilance towards the rule of law and helping reduce poverty levels by increasing accountability of both governments and businesses (Norris, 2010, p. 33). It acts as the watchdog against corruption and preventing the exclusion and marginalization of the poor (Scott, 2014, p. 150). There are some factors which limit the effectiveness of media such as denying its freedom, threats to media personalities on different subjects, stringent and unfavorable media policies (Howley, 2010, p. 94). These factors have compromised the critical role of media in ensuring good governance. The social media can also participate in enterprise risk management by sharing crucial information about unlawful practices they may observe in their particular member corporates. They may also provide their views on possible measures of combating such issues. Importance of Whistleblower Protection Policy They provide employees with a safe route for reporting issues or complaints regarding wrongdoing within the company (Vaughn, 2012, p. 253). Such policies encourage early reporting to the employer or top management and promote immediate identification of the problem thus minimizing the potential losses incurred. It will also discourage employees from making complaint externally. For instance, directly reporting to the media since their complaint will be taken seriously and appropriately investigated. Bloe and his colleagues were not sufficiently protected by the whistleblower policy because they were left defenseless after their covers got blown. Whistleblowing can be encouraged through conduct training, establishing means of reporting wrongdoing like setting up hotlines and offering financial incentives for valid whistleblowing (Schermerhorn, 2011, p. 66). Challenges Faced by Organizations in upholding Excellent Reputation Company rules can't guarantee self control about ethical decisions. Another challenge is being an open book since giving too much information too soon could jeopardize the process of change. References Fraser, J. R. S. . S. B. J., 2010. Enterprise risk management. Hoboken, N.J: Wiley. Friedman, J., 2011. What caused the financial crisis. Philadelphia: University of Philadelphia Press. Howley, K., 2010. Understanding community media. Los Angeles: SAGE. Norris, P., 2010. Public Sentinel: news media governance reform. Washington, D.C: Worl Bank. Olson, D. L., 2008. Enterprise risk management. Singapore: World Scientific. Schermerhorn, J. R., 2011. Management. Hoboken, N.J.: Wiley. Scott, M., 2014. Media and development. London: Zed Books. Sheehan, K. M., 2012. Regulation of executive compensation: greed, accountability and say on pay. Cheltenham, UK: Edward Elgar Pub. Solomon, J., 2007. Corporate governance and accountability. Chichester: Wiley. Tourani, R. A., 2010. Handbook on emerging issues in corporate governance. Singapore: World Scientific. Tricker, R. I., 2015. Corporate governance: principles, policies, and practices. Oxford, United Kingdom: Oxford University Press. Vaughn, R. G., 2012. Successes and failures of whistleblower laws. Cheltenham, UK: Edward Elgar.

New Article Reveals the Low Down on 5th Grade Essay Samples Evidence Quotations and Why You Must Take Action Today

New Article Reveals the Low Down on 5th Grade Essay Samples Evidence Quotations and Why You Must Take Action Today Life is full of surprises and we don't always know just what good and bad things it's going to throw at us. The Women's Rights Movement was among the movements that gained momentum in this moment. What You Must Know About 5th Grade Essay Samples Evidence Quotations Ask questions during class to find out whether or not there are any off limits sources. When it is introduced by a comprehensive statement, a period ought to be used. Formulate your own assumption before you examine the documents. You will need to learn what sort of evidence you need to see in the documents or data you have, dependent on the prompt question. Evidently, you ought not purposely select a topic that will bore your audience. Not just you get to get a superior grade, in the grueling procedure, you also learned some new understanding. After you are finished writing the essay, you should have proofread it multiple occasions and make your buddies and family read it as well. Do not be concerned, EssayPro is here in order to teach our students everything they will need to learn about crafting an informative essay! The introductory paragraph is also supposed to specify all the facets of the book which students plan to address. While teachers ought to be there to support your child, he should do the job. Most likely, the students are really going to enter a play, and it gives everyone an opportunity to show off their distinctive talent. Fifth grade students utilize every phase of the writing procedure and continue to construct their understanding of writing conventions. In case the writer presents you with something very similar to what is shown here, then you're in good hands! If you understand what you are speaking about based on research or life experiences you are able to speak with confidence. You should quote when you think that the way the original author expresses an idea is easily the most efficient means to communicate the point you prefer to make. In fact it's the most important notion of every religion. Although there's no rigid formula for writing a fantastic introduction b ut we can understand that there are many strategies and guidelines we can readily adopt to generate quality success. There are several kinds of protein that play various forms of important part in our physique. It needs vitamins as substances to grow and develop normally. To acquire a sufficient amount of linoleic acid, among the few fatty acids the body can't produce on itself. It is better to compose an introduction that delivers the importance of the topic to be able to grab the eye of the readers. Your outline may also have all your ideas which you have thought about so that you don't forget about them. Constructing a thriving introduction, you should tell the importance of the topic. The greatest persuasive short essays often concentrate on controversial problems. Whether you locate a sample on your specified topic or a closely related discussion, every one of the speeches will be able to help you get organized and focused. Although your facts do need to be correct, you receive a bit more leeway with your interpretations of the means by which the author's persuasive techniques might influence the audience. The choice of the topic should depend on your interest because it's essential that you maintain your interest throughout the technology essays writing. If it is not assigned, you will need to choose your own topic. Begin with general subjects that you are conversant with then narrow down to a particular topic. Whichever topic you select, always don't forget the significance of literature sources. The debut of each written work ought to have a very clear thesis statement or argument. You still have to make an outstanding bit of writing. After the time is up, you are going to get started writing your essay. After introducing your topic sentence, it's time to stick to the CCE format to craft the most significant region of the essay. Your content paragraphs should be put in a logical purchase. Within this section you'll find samples of essays belonging to several essay types and manners of formatting. Do not make personal attacks, as soon as you are writing on any issue that is connected to a specific section never give remarks that could end up being personal. The intention of this section of the essay is to defend the thesis statement, or so the content in these types of paragraphs have to be tip-top.

World Issues In The Past Two Years

World Issues In The Past Two YearsFor world issues in the past two years, you may have run across speeches or press releases from the Obama administration that gave you good ideas on how to structure your essay topics for world issues. I'll show you what they are and how to use them in your essay topics for world issues.Of course, you need to do some research before you try to write about global problems so you won't just fall into a hole of information that might not make sense to you. One idea is that most of the people are fighting for the rights of someone, while there are many who are trying to take from someone else. It's kind of hard to explain, but I'll try to give you a good example.It's a great idea to include an example of people fighting for the rights of another person, like the protest that happened in France. The protestors believe that they have the right to protest because they want a better life for all people in their country. They believe they have the right to ma ke a better life for all citizens, which will help the people around the world.For world issues in the past two years, I don't know if it's possible to really determine which of the speakers are being truthful about their point of view. No one can tell which is the truth when someone speaks in public. You could be reading that speech and think that the speaker is lying, or you could be somewhere else, hearing another speaker talking about it.Of course, you don't want to go out there and say 'Oh my god, I have no idea which way the world issues are going,' but then in your essay you say something else completely different. It all depends on how you look at things. You don't want to lose your credibility.Forworld issues in the past two years, you may have heard about the protests happening in Tahrir Square in Egypt. The protesters wanted the president of Egypt to release all political prisoners and give them fair trials. They also wanted them to stop killing children in the streets.Fo r world issues in the past two years, the Nobel Peace Prize was given to al-Bashir, the president of Sudan. He would make his soldiers kill civilians in the streets. He did this again, even after several people claimed that he had been killing children over there.So, the next time you're writing a world issue's essay, give yourself enough room to make a clear distinction between the different issues in the world. Don't just lump everything together. All the speeches were good ideas for world issues in the past two years, but you could have used something different if you'd like.

The True Story About Term Papers at Competative Prices That the Experts Dont Want You to Hear

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Personal Statement Scholarship Essay Sample

Personal Statement Scholarship Essay SampleA personal statement is a detailed statement describing an individual's specific experiences or skills that will help to paint a picture of their strengths and weaknesses, and thus their potential. The use of personal statements is a means for students to be able to describe themselves and how they are going to contribute to the school environment. There are a variety of ways to complete a personal statement; for example, it can be in a single page or spread out over several pages. The type of personal statement you write will depend on the requirements of the college or university that you are applying to.So when writing your personal statement, you need to think carefully about what it is that you want to communicate about yourself. This can include the school, the professors, or how you will contribute to the community that you attend. You want to be able to think about the impact that you will have on the institution as well as the type of experience that you are trying to promote.When writing your personal statement, you also need to think about the type of subject matter that you are looking to communicate. Do you want to say something about yourself or your past, or do you want to discuss a new experience that you have had recently?Do you have a difficult time expressing yourself in a way that others will see you in a positive light? You may also be experiencing difficulties expressing your opinions to someone who doesn't speak English as a first language.Your personal statement scholarship essay sample may be more effective if you have some advice that you would like to impart to the college or university in which you are applying. You may want to communicate something that you learned recently, or talk about something that you have done recently in order to help them understand how you would contribute to the organization that you are applying to. You can also talk about what you have learned recently, such as your experience as a volunteer.If you are submitting your personal statement to a particular institution, it may be best to write your essay about it or at least show the institution that you are willing to provide a good opinion of the school. In this way, you are providing a lot of information about the school to the individual that is reading your essay.You will also want to have the student's name and contact information somewhere on the essay. This will make it much easier for the person that you are sending the essay to find you and get back to you.

Keynesian Theory And The New Deal Essays - Economy,

Keynesian Theory and the New Deal The crash of the stock market brought many hard times. Franklin D. Roosevelt's New Deal was a way to fix these times. John Stuart Mill and John Maynard Keynes were two economists whose economic theories greatly influenced and helped Franklin D. Roosevelt devise a plan to rescue the United States from the Great Depression it had fallen into. John Stuart Mill was a strong believer of expanded government, which the New Deal provided. John Maynard Keynes believed in supply and demand, which the New Deal used to stabilize the economy. Franklin D. Roosevelt's New Deal is the plan that brought the U.S. out of the Great Depression. It was sometimes thought to be an improvised plan, but was actually very thought out. Roosevelt was not afraid to involve the central government in addressing the economic problem. The basic plan was to stimulate the economy by creating jobs. First Roosevelt tried to help the economy with the National Recovery Administration. The NRA spread work and reduced unfair competitive practices by cooperation in industry. Eventually the NRA was declared unconstitutional. Franklin D. Roosevelt then needed a new plan. Keeping the same idea of creating jobs he made many other organizations devoted to forming jobs and in turn helping the economy. One of those organizations was the Civilian Conservation Corps. This corps took men off the streets and paid them to plant forests and drain swamps. Another of these organizations was the Public Works Administration. This organization employed men to build highways and public buildings. These were only some of the organizations dedicated to creating jobs. Creating jobs was important because it put money in the hands of the consumer. This directly affected the supply and demand. The more money they had the more they could spend. This would slowly start a chain reaction and bring the economy back to the way it was before the depression. By the end of the 1930's this plan had lowered unemployment to 17.2%. To make these organizations it was going to take money. Roosevelt had to deficit spend, which is when the government spends more than their budget in one year, in order to obtain this money. Of course these ideas of supply and demand and active government didn't just come to him. He was influenced by John Maynard Keynes and John Stuart Mill. There philosophies were the basis of the New Deal. John Stuart Mill, who began studying economics at age 13, was one of the most influential political thinkers of the mid-Victorian period. He believed in empiricism and utilitarianism. Empiricism is the belief that legitimate knowledge comes only from experience. Utilitarianism is the belief by which things are judged right or wrong. It is judged according to their consequences. In a way he was a hypocrite. When the economy was good he believed in Laisezz-Faire, which means "hands off." If the economy was bad, though, he believed in an extended role of government. This simply meant that the government should take part in the economy and try to make it better. The New Deal was a very active government plan because it had the government working directly to make jobs and fix the economy. Mill died in 1873 and would never had a chance to talk to Franklin D. Roosevelt. In a press conference Franklin D. Roosevelt once said, "I brought down several books by English economists and leading American economists, I suppose I must have read different articles by fifteen different experts."(Schlesinger, Pg.650) This writing indirectly steered Roosevelt towards a plan which expanded the role of government. Mill gave Franklin D. Roosevelt the basis of the plan, but it needed to be elaborated on. John Maynard Keynes was the man to do this. John Maynard Keynes, one of the most influential economists of the 20th century. For many years he was an active voice in economics. In 1929 he wrote We Can Conquer Unemployment and in 1930 he wrote his Treatise on Money. Ten years before he died he wrote his General Theory of Employment, Interest and Money. Above all he believed in supply and demand. This was an indirect way to let the economy balance itself. In

The abuse of power Essays

The abuse of power Essays The abuse of power Essay The abuse of power Essay Danforths status does not change during the play as he is a judge but it can be argued that he is a judge that does not listen to sense and evidence, and will believe anything. The final character I am going to focus this essay on is Mary Warren. Marys character does not manipulate others but is manipulated herself. In comparison to Abigail, Mary can be seen as weak and fragile. She is mainly manipulated by Abigail throughout the play. Abigail: (Shivering visibly. ) It is a wind, a wind! Mary Warren: Abby, dont do that! In my opinion, Arthur Miller created such a character so the audience can easily view the lengths Abigail goes to, to influence and control a situation that could end up unfavourably for her. This illustrates how selfish she is as a person and because of Mary Warren, it helps us to understand the character of Abigail. Danforth, who always seems to believe Abigail, turns against Mary Warren, who was a part of the group of girls accusing people in the public of using witchcraft, and asks Mary Warren about what she is supposedly doing to Abigail, Danforth: (Himself engaged and entered by Abigail. ) Mary Warren, do you witch her? I say to you, do you send your spirit out? This then eventually causes John Proctor to prove to Danforth that Abigail can not be trusted by telling everyone what has happened between him and Abigail. Mary, as a character, is not strong enough to stand up to a character like Abigail for a fear of what could happen to her. This shows us that the point of Marys character is to show the audience Abigails evil qualities and possibly what Abigail is capable of to protect herself. In conclusion, Abigail had the ability to push around anybody, something she would not have been able to do if the trials for witchcraft had not taken place. Abigail is possibly the most manipulative character in modern literature. By creating Abigail, I believe that Arthur Miller was trying to capture the events of what was happening within his own society at the time. From writing this essay, I have learned that this play is a study of power and manipulation as there is a vast amount of it within just one piece of literature. By writing The Crucible, Arthur Miller has shown his readers that if one person is given too much power, no good would possibly come from it.