Week 1 Essay Questions (80 Points) 1. Why is corporate governance important? a) good corporate governance produces direct economic benefit to the organization b) To avoid scandal c) To imbibe trust in investors d) The perception of good corporate governance is an important ingredient of the image of an organization‚ whether public‚ private‚ or nonprofit. e) A perception of unethical conduct by an organization can be very costly in legal cases Reference:
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Knowledge work systems (KWS) serve the information needs at the knowledge level of the organization. Knowledge work systems aid knowledge workers. In general‚ knowledge workers are people who hold formal university degrees and who are often members of a recognized profession‚ like engineers‚ doctors‚ lawyers‚ and science. Their jobs consist primarily of creating new information and knowledge. Knowledge work systems‚ such as scientific or engineering design workstations‚ promote the creation of
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What is the state of Governance in South Africa? In my opinion the current state of Governance in South Africa is abysmal. Regulatory bodies within South Africa failed in the design‚ implementation and monitoring of regulations over a number of years. This resulted in a tremendous amount of tension between various stakeholders across the country. Employers‚ employees‚ political parties‚ worker unions‚ government‚ religious groups‚ social groups and the general public all have to deal with different
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16: CORPORATE GOVERNANCE – Combined Code Question 1 “Early skepticism about the self-regulatory nature of the Cadbury Report has melted away. It is now clear that self-regulatory codes have a useful role to play in solving the crisis which has been facing corporate governance. Discuss. i. Usefulness/doubts about Cadbury ii. Self-regulating code iii. Crisis-problem been solved? Introduction In as early as the 1960’s‚ successful commentators and businessmen have identified the significance
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Synopsis Enron was believed to be the company to take over the world in the 1990’s. The company was growing at exponential rates that were unheard of at the time. It was ranked among the 7 top corporations in the world peaking at a net worth of $70 billion. The company’s overwhelming wealth and success gave birth to some overconfident and ultimately greedy people within the company. In the end‚ Enron fell due to falsification of financial records‚ reporting profits well in excess of the actual. “On
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Enron Case ACC 304 1. What led to the collapse of Enron under Lay and Skilling? There were various reasons as to why Enron collapsed under Lay and Skilling. One reason Enron collapsed under Lay is because Lay simply did not practice what he preached. Lay did not live by his code of ethics and neither did his corporation. Not only that‚ but Lay and top management gave Andrew Fastow an exemption to the code of ethics to continue doing business. Another reason that Enron collapsed‚ under Skilling
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words‚ kan ("visual") and ban ("card" or "board")‚ kanban roughly translates to sign board or signal board. It is a manual system used for controlling the movement of parts and materials that responds to signals of the need (i.e.‚ demand) for delivery of parts or materials. This applies both to delivery to the factory and delivery to each workstation. It helps determine what to produce‚ when to produce it‚ and how much to produce. The result is the delivery of a steady stream of containers of parts
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Permit-to-work systems WHAT ARE PERMITS-TO-WORK? A permit-to-work system is a formal written system used to control certain types of work that are potentially hazardous. A permit-to-work is a document which specifies the work to be done and the precautions to be taken. Permits-to-work form an essential part of safe systems of work for many maintenance activities. They allow work to start only after safe procedures have been defined and they provide a clear record that all foreseeable hazards
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the Causes and Effects of the Enron Accounting Scandals Name: Do Minh Tam Class: MEP 100 Lecture: Karen Bird Date: December 24‚ 2010 Introduction Background From the 1980s until now‚ there have been a lot of accounting scandals which were widely announced on by media. The result of this situation is many companies were bankruptcy protection requests‚ and closing. One of the most widely reported emulation of accounting scandals is Enron Company. Enron Corporation is one of the largest
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Theories of Corporate Governance Agency Theory • • • Separation of ownership from control Dispersed ownership structure – no single shareholder has the power to control management Economic theory suggest that managers will act in their own self interest instead of maximizing shareholders’ return Stewardship Theory Managers are good stewards of corporations and diligently work to attain high levels of corporate profit and shareholders’ returns • Different
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