8.3 per cent of its GDP or Rs. 820 billion during last year owing to bad governance.” The report also pointed out that GDP could have been higher by three percent or around Rs. 450 billion‚ had there been no shortage of power and water that has adversely affected the national economy. Today‚ bad governance has emerged as a much bigger challenge for the nation. Maladministration is not just limited to administrative failure but it also promotes a vicious circle of corruption which mars the whole
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Ethics is defined as a system of moral principles that governs a person or a group’s behaviour. Ethics refers to well based standards of right and wrong‚ and prescribe what humans ought to do. It is also the continuous efforts of striving to ensure that people‚ and the institutions they shape‚ live up to the standards that are reasonable and solidly based (Amundsen & Andrade‚ 2009). Ethics involves in doing “what is right” and “what is wrong”. However‚ most ethical dilemmas in workplace are not simply
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Looking around‚ I could see the uneasy and impatient expressions on people’s faces. Suddenly‚ a loud voice interrupted my presentation: “The scenarios sound like scary but implausible fictions. We should stop here!” This stunning moment occurred during a milestone meeting for one of my early projects at Monitor Group. The project was meant to develop a set of plausible scenarios for evaluating the potential impacts of the melting Arctic ice-cap on Singapore’s status as a transshipment hub. As
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What is Corporate Governance and why is it necessary? Up to now no specific world-wide common understanding or single definition for “corporate governance” has been established. More generally‚ corporate governance can thus be understood as the totality of all national and international regulations (e.g. Sarbanes-Oxley Act)‚ rules‚ values and principles (e.g. UK’s “Code of best practices”) that apply to businesses and determine how they are steered and monitored. Corporate governance can be complex
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COMPLIANCE WITH THE CODE OF CORPORATE GOVERNANCE IN MAURITIUS REPORT October 2009 1. EXECUTIVE SUMMARY Executive Summary [1/14] In view of improving the overall governance in Mauritius‚ the NCCG has as its main aim to identify the key weaknesses and discrepancies in the governance of companies in Mauritius. In this regard‚ BDO De Chazal Du Mée and DCDM Marketing Research have been commissioned to conduct a survey on the state of compliance with the Code of Corporate Governance in Mauritius. The research
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Learning from Failure “I can accept failure‚ everyone fails at something. But I can’t accept not trying.” This is only one of Michael Jordan’s many famous quotes. One reason I agree with this quote is because he is my all-time favorite NBA player; but the main reason I admire it is because it has inspired me to excel at several different things‚ such as sports‚ hobbies‚ and other interests. Losing a tennis match is one example of failure that I have experienced. I lost at least three or four matches
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This document contains ETH 376 Week 4 Individual Assignment Legality and Ethicality of Corporate Governance General Questions - General General Questions Resource: Case 3-3‚ United Thermostatic Controls in Ch. 3 of Ethical Obligations and Decision Making in Accounting Determine the legality of the activities based on federal‚ state‚ and local laws. Determine the criteria by which Sarbanes-Oxley would apply to this case. Determine the ethicality of the activities. Consider
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SYSTEM FAILURE CASE STUDIES SEPTEMBER 2009 VOLUME 3 ISSUE 06 A Half-Inch to Failure At 6:05 pm‚ on Wednesday‚ August 1‚ 2007‚ the Interstate-35 West (I-35W) bridge over the Mississippi River in Minneapolis collapsed. On the day of the collapse‚ four of the bridge’s eight lanes were closed for planned construction. Four weak connector plates fractured under the combined burden of rush hour traffic‚ concentrated construction equipment‚ and previous heavy renovations. The bridge fell 108
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Alibaba maintained its initial corporate culture which is the key cohesive force in enterprise‚ ensuring that every decision would not deviate from the company’s target and that strategies are for its long-term performance. However‚ due to this unique structure and the company’s election procedure‚ the independence of management of board of director cannot be guaranteed and the interests and rights of public shareholder might not be protected. In conclusion‚ the governance structure of Alibaba group
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Introduction Marsh & McLennan Companies (MMC) founded in 1871‚ is a global insurance brokerage firm providing advice and solutions in the areas of risk‚ strategy and human capital. It has clients in more than 100 countries and a workforce of more than 60‚000 employees as indicated in MMC 1st quarter results report on April 21 2004. On October 14 2004‚ New York Attorney - General Eliot Spitzer filed civil charges against MMC for alleged misbehaviour in property-casualty insurance coverage
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