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Items filtered by date: May 2014

Friday, 09 May 2014 17:00

Business Governance Plan

Business Governance Plan


Introduction

The successful management of any organization must be based on an effective blueprint for corporate governance. The world’s most profitable entities are characterized by exceptional frameworks for governance. However, the absence of an effective blueprint for governance undermines all operations in an organization. Fundamentally, a governance plan provides the framework that guides the conduct of stakeholders and executives in a company. The executives must exemplify the best standards of behavior to other employees.


The governance plan is also an essential blueprint that defines the corporate direction of a company or business organization. This research zeros down on the different elements of a governance blueprint for the financial sector in the USA. The plan can also be implemented in other industries especially in the profit-oriented sectors. It is essential to underline that business governance has extensive political implications. These aspects have also been integrated into the analytical framework of this research.


Components of a Business Governance Plan

A governance plan for a business entity is a blueprint that facilitates for the realization of corporate goals based on the highest standards of integrity. The governance plan ensures that a business does not only focus on making profits but also upholding exceptional ethical standards (Solomon, 2011). Among the most crucial elements of governance plan for business is the specification of the roles of each stakeholder. Effective governance is not a role or responsibility for one individual. It is attained through the collective responsibility of different stakeholders towards the core objectives. In view of this aspect, the role of the different stakeholders must be defined in the governance plan. The next element of the governance plan is a policy framework. Policies ensure that limits are defined for the conduct and actions of stakeholders in the business.


The policy framework is an essential point of reference for any governance plan (Ferrell, 2009). Additionally, the policy framework underpins the relevant procedures for the entire business. The leadership system must also be integrated into the blueprint for governance. For instance, the plan should clarify the persons charged with the highest responsibility in organizational decision making. This might be the executive board, management team, or the chief executive officer. The integrity standards of these stakeholders must be defined clearly in the governance plan. In any governance plan, the framework for transparency is also an essential component. Transparency is inherently connected to integrity (Calder, 2008). Consequently, organizational best-practices are founded on a framework for transparency encapsulated in the governance plan.


Moral Underpinnings of Components

 Morality is strongly associated with people’s character. The different components outlined for the governance plan are aimed at boosting the moral standards of each stakeholder in a business organization. The framework of integrity is one crucial component of the governance plan that is inherently associated with excellent morals (Leander, 2010). When a leader in an organization acts in line with high standards of integrity, it underpins the best moral standards. On the contrary, low integrity standards can easily undermine the moral standards implemented in a business organization.  Transparency acts as another component that underpins morality within the framework of the governance plan.


Organizational leaders and employees must act transparently in line with the company’s guidelines for ethics (Solomon, 2011). This also applies to their behavior and strategies for decision-making. Transparency strengthens the ethical standards of the entire organization. It is essential to underline that the ethical blueprint emphasizes on the organizational expectations for each stakeholder. While an employee’s principles might differ from the organizational policies, he or she is obliged to uphold such ethics. This is another aspect that underpins the moral framework of the governance plan (Brink, 2011).


 Financial management is one of the most sensitive aspects of organizational management affected by ethics. In the United States, business entities must act within the stipulations enshrined in the Sarbanes-Oxley Act. Based on this act, high ethical standards must be integrated into financial reporting and financial oversight in any business organization. Such procedures must also be incorporated into the business blueprint for governance. It is fundamentally essential that the governance plan evaluates the ethical implications of different organizational operations and decisions (Solomon, 2011). While profits are essential targets for any business, they should not be pursued at the expense of social welfare. For instance, advertising plans must not be based on falsifications. The evaluation of ethical implications ensures that the business gives as much as it gets from the customers and the entire society (Ferrell, 2009). This is why business ethics must be integrated into the governance plan.


Political Implications

Business governance is inevitably associated with political effects. The evaluation of such implications is vital in determining the applicability of a governance plan. While some political implications are more or less negligible, others must be alleviated. (Leander, 2010) The legal framework is among the most notable political attributes of any governance plan. The structure of the governance plan determines whether the business operations are in line with the stipulated legal guidelines or not. In essence, the plan must be based on the implementation of organizational practices that are aligned to the law.


The violation of any legal provision can significantly hamper the efficiency of business operations. (Solomon, 2011) This underlines how a blueprint for governance can cause negative outcomes from the perspective of politics. The actions of organizational leaders must be aligned to the stipulated legal guidelines. The Senate is a pertinent political institution in the United States. This institution has enacted numerous provisions that are intended to enhance best-practices in the governance of organizations. Such provisions are directly influential on the development and implementation of governance blueprints in business organizations (Brink, 2011). When a blueprint for governance is not aligned to these provisions, such an organization is deemed to be noncompliant with the law.


The consequences of legal violation are wide-ranging including litigation and even closure. The framework for political implications can also be evaluated in terms of the stock exchange. For listing at an American bourse, business entities must satisfy numerous standards of governance. For instance, high levels of transparency and management efficiency are required for listing (Ferrell, 2009).  This underlines the pertinent political implications of governance plans. In essence, the structure of the blueprint for governance can make the difference in terms of successful listing at the bourse.


Qualities that Promote Organizational Integrity

There are numerous aspects that help in the promotion of organizational integrity. One of the most pertinent components is transparency. This applies to the behavior and actions of all stakeholders in the organization. In the different levels of operational management, exceptional standards of transparency must be exemplified. For instance, the different platforms for communication must be characterized by the highest standards of transparency (Calder, 2008). When the communication systems are transparent, such an organization is associated with best practices. Transparency must also be integrated into the blueprint for financial reporting. In essence, such an approach is vital in terms of preventing potential fraud. Transparency is also an essential platform that helps in the prevention of corrupt behavior among the organizational leaders and also other employees (Leander, 2010).


Apart from transparency, another vital component of organizational integrity is ethics. The governance plan must outline the expected code of conduct from each stakeholder. The senior executives must not be overlooked while implementing the code of conduct. It must be implemented uniformly across all levels of human resources within a business entity. A framework for ethics is massively essential because it limits the employees from certain actions. It is also vital to underline that responsible decision-making is a pertinent element of organizational integrity. The decision-making process must focus on the overall good of the business and not the welfare of some stakeholders.


In view of such a stipulation, adequate mechanisms must be integrated into the governance plan in order to promote efficiency in the entire decision making process (Solomon, 2011). Best-practices in human resource management are also inherently associated with organizational integrity. The procedures used in the recruitment of employees must be nondiscriminatory and also unbiased. Attributes such as racism and favoritism are inconsistent with the required standards of corporate integrity.


Business Issues Caused by the Lack of Organizational Integrity

The lack of organizational integrity has numerous consequences to a business. These outcomes are largely undesirable to any business entity (Brink, 2011). The first major framework of the implications of the lack of integrity involves the legal framework. A business organization risks extensive litigation when it does not maintain the relevant standards of integrity. For instance, consumers might sue a business organization for using misleading adverts or promotional campaigns. The lack of organizational integrity can also hamper the capacity of a business to comply with the stipulated provisions such as the Sarbanes-Oxley Act. Noncompliance can easily cause litigation from the government regulatory authorities.


 

Apart from legal implications, the lack of organizational integrity can cause a business to be delisted from the bourse. Exceptional levels of organizational integrity are required for listing in the stock exchange. (Calder, 2008) Delisting or suspension from trading can occur if a listed company does not uphold the stipulated standards of organizational integrity. The value of a company’s stock at the bourse is also likely to plummet if there lacks integrity in the business operations and management. This could negatively impact the financial performance of any business entity.


The public image of a business company is dented when it lacks organizational integrity. It is highly unlikely that potential customers would want to be associated with a business entity that does not uphold the best ethical standards (Solomon, 2011). Consequently, it would be significantly complex for such an organization to expand its customer-base. The lack of organizational integrity can also hamper the ability of a company to attract professional employees. This is a limiting factor for human resource efficiency at any organization. Another consequence of the lack of integrity is that it can cause extensive financial losses to an organization. Financial scandals are triggered when a company does not have effective platforms for transparency and hence integrity among employees. Some employees or organizational leaders are likely to take advantage of such loopholes to defraud the company (Brink, 2011). These consequences underline how a business organization can suffer from the lack of organizational integrity.


Application of Established Practices

The identified issues related to the lack of organizational integrity can be resolved by applying the established practices. Firstly, the established practices can help in resolving the issue of potential defrauding by employees. An effective blueprint for governance facilitates for exceptional moral and ethical standards among employees (Ferrell, 2009). In view of such an attribute, an effective blueprint for governance would prevent or cushion the business from potential defrauding by employees or organizational leaders.


The application of best-practices would also serve as exceptional platforms for enhancing the company’s framework for human resource management. When a business is characterized by high standards of organizational integrity, it is easy to attract top professionals in different areas such as finance and information technology (Calder, 2008). Such experts would play an excellent role in terms of boosting the company’s performance and overall framework of attaining corporate goals. Consequently, the established practices of governance can be massively helpful in boosting the efficiency of human resource management in an organization. A governance plan is vital in terms of providing the required framework for compliance with the stipulated legal guidelines. This is why such a blueprint would cushion a business organization from potential litigation by consumers or even regulatory agencies. Compliance also helps in the enhancement of the public image of a business organization.


Established practices can also help in resolving the issue of delisting from the bourse. The implementation of an effective governance plan ensures that a company operates within the standard guidelines as stipulated by the listing authority. Additionally, such a plan can greatly boost the value of a company’s stock in the bourse (Leander, 2010). The blueprint for governance is thus massively essential in helping business organizations resolve numerous issues and hence enhance performance.


Impediments to Successful Implementation

Ineffectual leadership systems can be pertinent stumbling blocks for successful implementation. When the leadership system is merely focused on profits alone, the implementation of a blueprint for governance is hampered. This is passed down to the entire workforce within an organization. Another factor that hinders implementation is noncompliance with the regulatory provisions. Noncompliance causes an organization to shun the set guidelines. It is also massively crucial to underline that an ineffective organizational culture contributes massively towards hampering the implementation. In essence, the organizational culture is based on the values and fundamental principles of a company (Ferrell, 2009).


If these values are not supportive of governance plans, implementation is hampered. Ineffective decision-making can also act as a hindrance for successful implementation. The different leaders entrusted with decision-making responsibilities must have the ability to synchronize the governance plan with the different business operations. This underlines why ineffectual decision-making can be a stumbling block for the implementation framework in an organization. Communication breakdown between the leaders and employees can also derail the implementation framework (Brink, 2011). The leaders must guide the different employees on the significance of corporate governance in order to attain the expected outcomes. Consequently, communication breakdown is a notable impediment for implementation.


Solutions for Impediments

Organizational leadership must be highly supportive of the blueprint for governance. This inspires the other employees to embrace the different guidelines of corporate governance. For instance, the leaders must demonstrate transparency, high levels of integrity, and responsible leadership (Solomon, 2011). This is passed on to the entire workforce and thus facilitates for the successful implementation of the governance plan. Compliance with the different regulatory provisions is also another platform for overcoming the different impediments for effective implementation.


When an organization ensures that it complies with the set regulations, excellent standards of corporate governance are maintained. Auditing is another vital element that would help in boosting the implementation process. The audits are vital in that they help in the identification of areas of weaknesses in the organization. (Ferrell, 2009) Improvement in the efficiency of resource allocation is also vital in boosting the implementation of a governance blueprint. Availability of resources ensures that the employees and all stakeholders are acquainted with the pertinent elements of corporate integrity.


Conclusion

The research has narrowed down on a business governance plan. Some of the most notable components of the plan are policies and guidelines for ethics. Organizational integrity ahs also be underlined as an essential element of the governance plan. The ethical underpinnings of these elements have also been evaluated. Based on the analysis, a governance plan is massively essential in terms of boosting the ethical framework used or implemented in an organization.


Organizational ethics not only enhances the image of a company but it also facilitates for compliance with the relevant provisions. In any governance plan, the framework for transparency is also an essential component. Transparency is inherently connected to integrity. Consequently, organizational best-practices are founded on a framework for transparency encapsulated in the governance plan. The legal framework is among the most notable political attributes of any governance plan. The structure of the governance plan determines whether the business operations are in line with the stipulated legal guidelines or not.


References

Brink, A. (2011). Corporate governance and business ethics, New York, NY: Springer

Calder, A. (2008). Corporate governance: A practical guide, New York, NY: Taylor &     Francis

Ferrell, O. C. (2009). Business ethics, Mason, Oh: South-Western

Leander, A. (2010). Business and global governance, New York, NY: Routledge

Solomon, J. (2011). Corporate governance and accountability, Hoboken, NJ: John Wiley & Sons 


Published in Business Studies
Friday, 09 May 2014 16:53

Civil Action

Civil Action


The aspect of civil is to surround the plaintiff chasing some level of damages, property, or financial. Criminal action is defined as the act of putting some punishment for wrong doing be it work or time. Standard of proof is the test used to establish whether any given party has managed to prove a fact in an issue. In other words, it is the quantum of evidence that someone has to present before a court before determining whether a fact exists or it doesn’t exist. In a criminal action, potential remedies depend with what is being focused. Commonly, potential remedies include liens of property, freeze on financial accounts, driver’s license suspension, recreational suspension, and occupational. Another remedy, which may be a factor in on criminal action, is the modification of the possession order, (Gaines & Miller, 2011).


The person who files a civil action in court is plaintiff and the person who sued is referred as the defendant. A grand jury who has never been held by a local criminal court on any action that relates to such a situation is the person who can commence a criminal action. Civil procedure is different from criminal procedure by far. Civil procedure is based on the process of bringing a decision in two parties while criminal procedure process focuses trying and arresting someone for certain crimes, which are being committed. Based on my understanding, I don’t think a significant difference between duties of criminal juror and civil juror exist. The main work of the jurors is to pay attention when evidence is being presented and provide a recommendation to the court on whether to impose a death sentence or not. I won’t mind being in any side simply because the judge is at the central point in developing the judgment.


Reference:

Gaines, L. K., & Miller, R. (2011). Criminal justice in action : the core. Wadsworth/Cengage        Learning.


Published in History
Friday, 09 May 2014 16:45

Family Dynamics and Communication

Family Dynamics and Communication


Parent 1: a.) Changes least expected

She expected to go back to her secretarial job after the end of the 3 months leave, but she could not manage to leave her child under day care. She did not trust anyone with her child and decided to leave her job that she had been part of for three years.


B. communication: frequently talked with her husband. She experienced changes with her friend’s communication since she spent a lot of time with her child. She only spoke to one of her friends who also had a baby after her. They shared ideas.

C. impact of the child to relationship: had a positive impact.

Parent 2: a.) Least expected changes.

Indicated that her husband had changed. he used to help her with all activities around the house, but after the arrival of the baby, he changed in terms not helping her with cleaning cooking or any other work that he used to do around the house. He comes late and watches T.V all through his time in the house. Their sex life stopped suddenly which is among the aspects she least expected.


B. communication with her husband changed. They hardly speak to each other. She spends time speaking to her close friends about the unexpected changes in her life.

C. impact of the child to relationship; had a negative impact.

Parent 3: a.) Least expected changes

Says that her husband changed for the good. After the arrival of their child, he has become more supportive especially in things like cooking, cleaning, shopping and buying all sorts of gifts to her and her child. She least expected that he could be a loving and supportive partner. Earlier she thought of him as being lazy and caring less about her.


B.) communication

She admits having an open communication with her husband and she considers him as her closest friend. She has no frequent communication with others.

C. impact of the child to relationship. Brought them closer. Cemented the relationship.

For the three parents

d. Chapter 12 discussion shows that it is essential for partners to communicate and make a strong relationship that ensures children have a stable upbringing.


e. Guidelines for effective communication are not followed by all parents. The second parent does not know how to communicate with her partner and reason out what went wrong after giving birth. This can help her, and her husband cope with change. The other parents have good communication in their family, which is essential in helping their children have good values as they grow up.


Reference

Wood J (2011) Interpersonal communication; everyday encounters. 7th ed. Cengage Learning. P 315-320


Friday, 09 May 2014 16:41

Future Markets

Future Markets


            Competition between Boeing and Airbus in the larger jet airliner has been experienced for long. The reason behind some of the manufacturers in this industry to withdraw is due to the state aid these two manufacturers get from their respective governments. These two manufacturers manage to compete in the same market simply because they do produce a wide range of products that satisfy their clients. They have been in a position to respond to meet the client’s and market needs by developing slightly different models that are provided in the same market. There are a number of factors that contribute to the perfect competition between these two manufacturers. One of the factors is about outsourcing. Each of the manufacture subcontracts production of components and assemblies according to political interest they have in a given region. Technology, provision of engine choices, currency, and safety are part of factors that these two manufacturers have been using in competing with each other, (International Business, 2013).


            In order to gain an edge in the future markets, Boeing has a lot to integrate to its operations. The company should expand its commercial aircraft operations in order to boost its areas’ aerospace sector. It is clear that Boeing should integrate with WestJet Company in its production. This will provide future opportunities of Boeing in entering into new market segments. The company should also use the current technology in expanding its productions in a new dimension by coming up with more secure jetliners for all purposes. With the current market growth, the company should merge with international companies that will provide it with necessary production features in order to meet the need of the market, (International Business, 2013).


Work Cited:

International Business, Times. "Paris Air Show 2013: Boeing, Airbus To Compete For Wide-Body Jet Orders (787, 777, A350 XWB)." International Business Times 14 June 2013: Regional Business News. Web. 1 Oct. 2013.


Published in Business Studies
Page 64 of 64
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