Corporate Governance
Title: Corporate Governance
Assignment topic
Option 1
Conduct a review of the governance of your organisation (or one with which you are familiar) in the form of a report to the Chairman (or President) of the Governing Board of Directors. In the brief report use the concepts, tools and techniques learned in this subject to review the structure, process and effectiveness of the governance of the organisation and make recommendations for appropriate improvements.
Executive summary
This report sets out to review corporate governance at a private company, namely, Paramount Insurance Company. The specific objectives were to identify the relevant codes the organisation follows, why they are important and review the structure, process and effectiveness of the governance of the organisation.
Throughout the report, it was evident from the findings that Paramount although once a successful organisation, had some governance issues that can and should be improved for the best interest of the company and its policyholders.
Finally, several recommendations for improvement of the organisation’s governance were outlined.
Table of contents
Introduction5
Company profile6
Definition of corporate governance7
Composition and criteria at Paramount8
The Chairman and the Chief Executive Officer8
Diversity of board members8
Appointment to the board and subcommittees9
Board performance evaluation10
Conclusion11
Recommendations12
References14
Introduction
Corporate Governance has evolved from the early days of merchants and monopolists and the concept of corporate governance is as old as trade but the phrase is new. (Tricker 2011).At its simplest, corporate governance can be regarded as being ‘about promoting corporate fairness, transparency and accountability’ (Wolfensohn 1999).
All corporate entities need governing however, good corporate governance that takes into consideration a variety of frameworks, including various perspectives such as the relationship,
Assignment topic
Option 1
Conduct a review of the governance of your organisation (or one with which you are familiar) in the form of a report to the Chairman (or President) of the Governing Board of Directors. In the brief report use the concepts, tools and techniques learned in this subject to review the structure, process and effectiveness of the governance of the organisation and make recommendations for appropriate improvements.
Executive summary
This report sets out to review corporate governance at a private company, namely, Paramount Insurance Company. The specific objectives were to identify the relevant codes the organisation follows, why they are important and review the structure, process and effectiveness of the governance of the organisation.
Throughout the report, it was evident from the findings that Paramount although once a successful organisation, had some governance issues that can and should be improved for the best interest of the company and its policyholders.
Finally, several recommendations for improvement of the organisation’s governance were outlined.
Table of contents
Introduction5
Company profile6
Definition of corporate governance7
Composition and criteria at Paramount8
The Chairman and the Chief Executive Officer8
Diversity of board members8
Appointment to the board and subcommittees9
Board performance evaluation10
Conclusion11
Recommendations12
References14
Introduction
Corporate Governance has evolved from the early days of merchants and monopolists and the concept of corporate governance is as old as trade but the phrase is new. (Tricker 2011).At its simplest, corporate governance can be regarded as being ‘about promoting corporate fairness, transparency and accountability’ (Wolfensohn 1999).
All corporate entities need governing however, good corporate governance that takes into consideration a variety of frameworks, including various perspectives such as the relationship,