WHAT IS CORPORATE GOVERNANCE? Nowadays people in the business world are talking about good corporate governance. Companies with good corporate governance are perceived by the public as a company that been handled properly by its management. Few companies had been names as among the worst in corporate governance like Enron‚ World.com and Barings. But what is exactly corporate governance? The term ‘corporate governance’ is coming from two words. The adjective ‘corporate’ comes from the noun
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The Failed Corporate Culture of Enron High risk accounting‚ inappropriate conflicts of interest‚ extensive undisclosed off-the-books activity‚ excessive compensation these are some of the headings of the report prepared by the U.S. Senate’s Permanent Subcommittee on Investigations titled "The Role of the Board of Directors in Enron’s Collapse." (Permanent Subcommittee on Investigations‚ 2002) In February‚ 2002‚ Enron’s former Chief Executive Officer Jeffery Skilling had testified before members
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Discuss the corporate culture at Southwest Airlines and how it leverages its culture to achieve a competitive advantage. The corporate culture at Southwest Airlines can be defined within three areas including‚ core value‚ management style‚ and compensation. Southwest Airlines organization structure incorporated several areas but I was impressed with these three the most. Southwest Airlines had two core values‚ which emphasized on LUV and fun. Not only was LUV the company’s signature symbol
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breaking point for the studio heads. Although Judy managed to bring in money with box office hits‚ especially with her last film Summer Stock being a financial hit‚ MGM finally terminated their contract with her in 1950. The reason for her downfall? The unwavering addiction to her pills‚ the same pills she was given at the credulous age of 12 where she signed her name over to MGM. Not to say she was the only child actress to be given pills but she was the one star Hollywood cared most about
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Corporations‚ like any organization‚ define and are defined by a shared culture. This culture is created through the use of language first in the creation and implementation of a shared vision articulated in a company mission statement. This vocabulary steers the organization toward what will become their shared culture. This culture is then reinforced through all manners of language‚ evidenced in corporate communications such as press releases and company policy‚ the semantics of job titles and
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Prepared by: Ilya Bovkun‚ EPR10-english Essay on the topic: “Corporate culture: help or hindrance” “The only thing of real importance that leaders do is to create and manage culture. If you do not manage culture‚ it manages you‚ and you may not even be aware of the extent to which this is happening.” Edgar Schein‚ professor MIT Sloan School of Management Nowadays‚ in the end of 2011‚ we can make a clear overview of the remarkable events that took place not a long time ago. And though some
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The paper begins with explaining the theoretical foundations by introducing the main concepts; national culture and corporate culture‚ or culture at organizational level. The study conducted by Engelen et al. concentrates on the individualism versus collectivism dimension of national culture and on the strength of the corporate culture. After familiarizing the concepts‚ the paper presents the hypotheses and clarifies how the hypotheses are derived. Next‚ the research conducted to test the hypotheses
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Management Literature Review “During the 1980s the concept of corporate culture captured the imagination of management researchers and practitioners alike. In particular‚ Peters and Waterman’s (1982) book entitled In Search of Excellence: Lessons from America’s Best-Run Companies proclaimed that the key to corporate success was a strongly unified corporate culture.” Wilson (1996:87) Corporate culture has always been a part of every business since it was first introduced in the 1980’s. It doesn’t
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WHAT IS CORPORATE STRATEGY? Although strategy has different definitions by various authors‚ to understand Corporate Strategy we begin by defining strategy. "Strategy is the direction and scope of an organization over the long-term: which achieves advantage for the organization through its configuration of resources within a challenging environment‚ to meet the needs of markets and to fulfil stakeholder expectations” (Johnson‚ Scholes & Whittington‚ 2008). From the definition given by Johnson
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ing a clear understanding of the nitty gritty of culture dynamics‚ this essential resource is filled with new illustrative case studies that clearly show what successful change looks like and demonstrates how to dismantle an ineffective or dysfunctional culture. “Why [read this] now? It should come as no surprise that [culture] is a major underlying cause for the success or failure of many corporate mergers and acquisitions. What Schein says will no doubt keep heads nodding throughout
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