...IIBM Institute of Business Management Examination Paper MM.50 Corporate Governance Section A: OBJECTIVE TYPE (20 marks) 1. A 2. C 3. A 4. A 5. C 6. B 7. B 8. D 9. B 10. A 11. B 12. B 13. A 14. C 15. C 16. A 17. B 18. A 19. A 20. B SECTION B: Short Notes (10 marks) 1. Clause 49 of the Listing Agreement to the Indian stock exchange comes into effect from 31 December 2005. It has been formulated for the improvement of corporate governance in all listed companies. In corporate hierarchy two types of managements are envisaged: i) companies managed by Board of Directors; and ii) those by a Managing Director, whole-time director or manager subject to the control and guidance of the Board of Directors. --As per Clause 49, for a company with an Executive Chairman, at least 50 per cent of the board should comprise independent directors. In the case of a company with a non-executive Chairman, at least one-third of the board should be independent directors. --It would be necessary for chief executives and chief financial officers to establish and maintain internal controls and implement remediation and risk mitigation towards deficiencies in internal controls, among others. --Clause VI (ii) of Clause 49 requires all companies to submit a quarterly compliance report to stock exchange in the prescribed form. The clause also requires that there be a separate section on corporate governance in the annual report with a detailed compliance...
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...Corporate Social Responsibility Andrea Wible, Bobby Reynolds, Brian Grier David Hentnick, Dawn Trudeau, Delia Trevino PHL 323/Ethics in Management University of Phoenix Marks and Spencer’s 100-Point Plan A The Marks & Spencer (M&S) retail corporation is an example of ethical corporate social responsibilities at its best. Decisions are made by a corporation that changes an environment by making good moral choices for the well being of all. Consequential theory has been obtained through pushing an eco- friendly environment to maximize the benefits of all and minimizing harmful toxins in the communities. The deontological duty what is right for society and the ultimate environment of all. Ethical change has brought about a new way to tackle an old issue. The issue is a clean and friendlier environment for years to come. Challenges of negative limitations may bring friction in pursuing other corporations to bond together and use the same services. The positive outcomes for other corporations are the well being and safety for all. Marks and Spencer (M&S) retailing corporation has developed a 100 point plan to make their company more eco-friendly. The plan is designed to reduce the company’s energy...
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... for the people, on whose account he or she has become so rich.” Corporate Social Responsibility is a set of policies and functions whereby a business monitors and ensures its active compliance with the spirit of the law, ethical standards and international norms. It is a model in which economic, social, and environmental responsibilities are satisfied simultaneously. Companies these days are issuing corporate social responsibility reports that detail their environment, labor, and corporate giving practices. Also some firms have employed a position of director of corporate social responsibility. Although many firms are endorsing a culture of ethics and social responsibility, some believe that it is being done was a public relations campaign. One of the most common ways to approach CSR is corporate philanthropy. This includes monetary donations and aid given to nonprofit organizations and communities. Donations are made in areas such as the arts, education, housing, health, social welfare and the environment, among others. Owner of Headbands of Hope, Jessica Ekstrom sells made-in-the-U.S. headbands and donates a dollar of each sale to childhood cancer research through the St. Baldrick's Foundation. Another approach to CSR is to incorporate the CSR strategy directly into operations. For example Starbucks now engages in Fair Trade procurement of its Teas and Coffees from around the world. Corporate Social Responsibility may be implemented in many departments of an...
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...BUSINESS AND SOCIAL ENVIRONMENT “CORPORATE SOCIAL RESPONSIBILTY” A Written Reaction By Jay-Ar C. Dimaculangan In business, we should bear in mind that we have lot of responsibilities to perform not just only with our specific tasks in the organization where we belong but with the community and society where our organization belongs. A company whether profit or non-profit in its form should give back whatever it can contribute for the development and betterment of its society. For me that is what Corporate Social Responsibility is all about. As reported, corporate social responsibility encompasses human rights responsibility, financial responsibility, political responsibility, and environmental responsibility. Like for example, a business has the responsibility to treat employees fairly and with respect, operate with integrity and in an ethical manner in all its business dealings with its stakeholders like customer, suppliers, lenders, general public, and other affected by its operation. It has also the responsibility to sustain the environment for future generations and be a responsible neighbour or member of the community. Having said these, we can see that corporate social responsibility are of growing importance to government and community as they promise to meet challenges of social problems within the changing welfare environments. The government today although given different issues like for example CSR is only a window dressing of the government for their...
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... WHAT IS CSR? Corporate Social Responsibility is a management concept whereby companies integrate social and environmental concerns in their business operations and interactions with their stakeholders. CSR is generally understood as being the way through which a company achieves a balance of economic, environmental and social imperatives (“Triple-Bottom-Line- Approach”), while at the same time addressing the expectations of shareholders and stakeholders. In this sense it is important to draw a distinction between CSR, which can be a strategic business management concept, and charity, sponsorships or philanthropy. Even though the latter can also make a valuable contribution to poverty reduction, will directly enhance the reputation of a company and strengthen its brand, the concept of CSR clearly goes beyond that. Key CSR issues: environmental management, eco-efficiency, responsible sourcing, stakeholder engagement, labor standards and working conditions, employee and community relations, social equity, gender balance, human rights, good governance, and anti-corruption measures. A properly implemented CSR concept can bring along a variety of competitive advantages, such as enhanced access to capital and markets, increased sales and profits, operational cost savings, improved productivity and quality, efficient human resource base, improved brand image and reputation, enhanced customer loyalty, better decision making and risk management processes. ORIGIN OF CSR CONCEPT In...
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...of textbook (Paper Life Cycle, 2011) Step 1 (Forest) Firstly, the producer will seek materials for making papers, the woods is the main material of making papers. The manufacturers will purchase lots of woods from the supplier of trees to progress their papers. So that the, supplier will cut down the trees from the forest instead to supply to the producers. When these happened, if the landowners failed to practice sustainable, this will cause the failure of sustainability of managing forest and damaged to the environment heavily (Life Cycle, 2011). Step 2 (Transportation) Secondly, after harvested the trees and clean up and get the woods ready for deliver to the paper manufacturer. The woods would be store in an inventory before gather up and transfer to the manufacturers. This step requires the machine to arrange and pick to the transportation or inventory which is man power hardly to do. The woods will deliver to the manufacturer accordingly to the quantity of order. During this step, the social impact toward the society could be offered job opportunity and not much impact to the environment (Life Cycle, 2011).. Step 3(Paper Making) Thirdly, the process is to remove all of the bark from logs. Afterward chipping the logs, we cook the wood chips in a large vessel under pressure with heat and chemicals. When the cooking is complete, the pulp is washed to separate the fiber from the lignin and cooking chemicals. Then come to the paper making process....
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...Executive Summary A new idea has been developed to create a new product. The name of the proposed product is Multipurpose Paper shredder. This product is an upgrade version of paper shredder which is used in the offices for shredding purposes. This ‘Multipurpose’ Paper has upgraded into double functions such as shredding and briquetting.. The main target market of this product is adults.. One of the objectives of using Multipurpose Paper is to encourage Malaysian Citizens to work in the safe and convenience environment and to use at home and office. Problem Statements, idea generation, product concept description, idea evaluation are made to defining problems in specific ways and how to develop idea to generate a new product. The idea evaluation also helps to maximize the supporting factors and minimize the restricting factors (scribd, 2014). Part 1 A. Problem Statement In today’s office, a lot of sensitive information handling daily from one hand to another hand.. One of the problems that will be faced by the employee is their fingers will be shredded together with the paper in the shredding machine. Cleanliness and maintenance are also an issue because they found difficulties to clean after the shredding process. Another constraint which faced by the employees is maintenance. The employees should send to the authorized technical center to repair this shredder machine. The negative impact is, employees work will be delayed and the secret data will be stole by unauthorized...
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...Call for Papers on “Corporate Law: Contemporary Issues & Challenges” Posted on February 1, 2015 by LexQuest The Law Mantra Law journal (ISSN 2321 6417) is a monthly academic journal, published online, that seeks to provide an interactive forum for the publication of articles in the field of Law. The Journal is currently soliciting submissions for Volume 2, Issue 4, which will be published in March 2015. The submission deadline for Volume 2, Issue 4 is March 30, 2015. We welcome submissions from academicians, practitioners, students, researchers and experts from within the legal community. We have a strong preference for articles that assert and defend a well-reasoned position. Law Mantra is an Online Journal and Web Portal, under the Chief patron of Dr. Hon. Justice Malimath, former Chief Justice Karnataka and Kerala High Court, Prof. (Dr.) M.P.Singh, Chancellor Central University, Haryana, Prof. (Dr.) Gurjeet Singh, Founder Vice-Chancellor N.L.U.J.A Assam, Prof. (Dr.) Faizan Mustaffa, V.C NALSAR Hyderabad, Prof. Shamnad Basheer and other luminaries from the legal fraternity. It is aimed at institutionalizing and channelling the analytical and incisive articles of students towards value addition and developing inherent potentials of legal fraternity. The Themes for Call for Paper is “Corporate Law: Contemporary Issues & Challenges” Write us journal@lawmantra.co.in or editor@lawmantra.co.in About The Competition: The competition basically has the purpose to bring...
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...Birch Case--summary Background: Birch Paper Company is a large and vertically integrated paper company. It has three products: white paper, Kraft paper and paperboard. The company has four producing divisions and a timberland division (supplies pulp). Each division is operated by its manager independently, and each of them is assessed based on its profit and return on investment. A decentralizing policy has been applied by top management, which has increase corporate profits and competitive position. Situation: Thompson division designed a box for Northern division. Each box includes three parts: an inside linerboard, an outside linerboard, and the corrugating medium. Northern division paid for Thompson only the out of pocket cost of its design and development work. After that, Northern has three offers from Thompson and other two outside companies West and Erie. Usually, managers have rights to choose suppliers of materials freely, and may get sales price inside Birch. There are three bids: 1) The bid from Thompson is $480. If Thompson gets the offer, it will buy most of materials from inside Birch. These materials will cost 70% of out-of-pocket costs of $400, and is equivalent to 60% of selling price. 2) The bid from Eire Paper is $430. If Eire gets the offer, it will purchase the outside linerboard from Birch and use its own inside linerboard and corrugating medium. The outside linerboard will cost $120 a gross ($90 is the material from Southern division and $30 is...
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...[pic] The following report is the findings of the recycling committee. In efforts to jump-start the program, we consulted with coworkers to gain insight about recycling. Yorel Demouchet, an IT tech, implemented a program and she shared how she did it. We also interviewed Freddie Lyons, a former Waste Management Recycling Specialist. Basically, both of them said the same thing with the exception that Mr. Lyons gave more in-depth details about recycling as oppose to Yorel’s hands on experience. The planning stage is fundamental they both said. The planning and motivating stages enhances succeed. With their advice and research, we decided that paper, computer/computer parts, and ink/toner cartridge are the items we will start collecting. Mr. John James, our new CEO, wants to quickly implement a recycling program to show corporate responsibility like other corporations. After we inform you of what is and is not recyclable, consideration before choosing items, items chosen to recycle, how items are sorted, collected, and transported we will explain the final stage, motivating. Accepting our recommendation is warranted by the merits that this plan offers. Implementing this plan will be quick, simple, and easy. Planning Stage First, research to find what items...
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...Reflective Journal 1 While in English 115 my number one goal is to average an ninety or better. I also want to polish my grammar so that I am able to articulate to others in today’s corporate world. I want to be able to send out letters and memo with confidence that my message will be heard professionally. This course is going to be the foundation for my university career, professional career, and personal life. With this course I will be able to submit my best work with the knowledge that I’ll acquire from this class. From writing papers, to research, and even helping my friends and family with paper work they may be confused on due to our current culture and how unclear some things maybe. I am setting realistic goals within my coursed to ensure that I am retaining the information I am getting from my professor. Practicing different styles of writing will helping me to view different opinions and keep an open mind. I want to ensure that I am setting realistic goals when it comes to writing my papers so that I do not over exert myself and miss my opportunity express my thought. Sometimes when writing and thinking I tend to think faster than I type. While writing my mind moves faster than my hands. I tend to jump over thoughts or leave details out due to me trying to get it all out on paper. A common mistake that I tend to make is writing how I would speak to my peers. Whereas there are a lot of avenues that this grammar/broke English is not frown upon but we; I included...
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...are often used interchangeably to describe work which previously was done with paper, but which now has been adapted to information & communication technology (ICT) devices and software. The Information Technology Association of America (ITAA) has defined information technology (IT) in the electronic era as "the study, design, development, implementation, support or management of computer-based information systems, particularly software applications and computer hardware." IT entails processes involving the use of computers and software to create, convert, store, process, transmit, and retrieve information securely. The term has recently been broadened to ICT (Information and Communications Technology), so as to include the idea of electronic communication. To be paperless means essentially that the traditional paper-based practices-such as writing, note taking, reading, editing, communicating, and even drawing-are instead performed electronically with ICT devices and software. Much has been said and written about the paperless office in recent years, and the rapid development of ICT is enabling an increasing number of paperless practices. The relationship between paperless work styles and ICT is intimate and interdependent; a paperless work and lifestyle cannot be implemented without ICT, and the use of ICT should naturally lead to becoming paperless. Paradoxically, however, the consumption of paper has increased exponentially since the advent of personal...
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...Packages limited Packages Limited was established in 1957 as a joint venture between the Ali Group of Pakistan and Akerlund & Rausing of Sweden, to convert paper and paperboard into packaging for consumer industry. Over the years, Packages has continued to enhance its facilities to meet the growing demand of packaging products. In 1968, with IFC participation, Packages integrated upstream by establishing a Pulp and Paper Mill with a capacity of 24,000 tons per year based on waste paper and agricultural by-products i.e. wheat straw and river grass. With growing demand the capacity was increased periodically and in January 2003, total capacity was nearly 100,000 tons per year. In 1982, Packages modified a paper machine to produce tissue paper in response to growing awareness and demand for hygienic and disposable tissues. The “Rose Petal” brand name was launched with facial tissues and was later expanded to include toilet paper, kitchen roll, and table napkins. In 1986, the Company established a flexible packaging unit to cater to the increasing demand from consumers for sophisticated packaging used primarily in the food industry. In 1993, a joint venture agreement was signed with Mitsubishi Corporation of Japan for the manufacture of Polypropylene films at the Industrial Estate in Hattar, KPK. This project, Tri-Pack Films Limited, commenced production in June 1995 with equity participation by Packages Limited, Mitsubishi Corporation, Altawfeek ...
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...Acc 327 Case No. 2 Spring 2012 It is January 20, 2012, and you are the senior auditor in charge of auditing the 2011 year-end financial statements for Granger Paper Company (GPC). GPC is a profitable company that has been in business for many years. It is primarily a manufacturing company that buys wood from timber growers and converts the wood into a variety of paper products. It is a publicly traded company with a reputation as a good corporate citizen. Although GPC has been audited many times in the past by external CPA firms, this is the first year your firm has conducted the audit. GPC’s total revenue for 2011 is $80 million. In examining the revenue for the year, you notice that $3 million of the revenue does not come from GPC’s primary operations (i.e., revenue from sales of paper goods). This $3 million in revenue is labeled as timber revenue in GPC’s books. This strikes you as odd because, generally, GPC buys timber. That is, timber is part of the cost of goods sold for GPC and, as such, is an expense. You ask GPC’s controller, Pat Smith, why GPC is recognizing timber revenue? Pat informs you that GPC began diversifying its operations a few years ago. A natural extension of its business seemed to be growing and selling timber. So, five years ago, GPC bought 10,000 acres of land in Alabama and Mississippi for purposes of growing timber. The land was purchased from a previous timber grower that had recently harvested its timber. Immediately after purchasing...
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...VISY PULP AND PAPER PTY LTD ENVIRONMENTAL ASSESSMENT FOR A MAJOR PROJECT TUMUT MILL EXPANSION 436 Gadara Road, Tumut, New South Wales January 2007 H:\Environmental\VPP9 Stage 2\Stage 2\FINAL EA SUBMISSION\Main Report\Visy Tumut Final Env Assessment Main Report.doc Environmental Assessment Submission Under Part 3A of the Environmental Planning and Assessment Act 1979 Statement by Authors Environmental Assessment Prepared By: Name Ms Leanne Hayes Company Visy Pulp and Paper Pty Ltd Position Project Environmental Engineer Qualifications BSc Environmental Biology Address 436 Gadara Road, Tumut, New South Wales, 2720 Co-authored and Reviewed By: Name Ms Alison McRae Company Peter J Ramsay and Associates Pty Ltd Position Associate Qualifications Bachelor of Engineering (Environmental), Bachelor of Commerce Address 3/538 Gardeners Road, Alexandria, New South Wales, 2015 Project Under Part 3A: Application Number 06_0195 Development Visy Pulp and Paper Tumut, Mill Expansion Development Location 436 Gadara Road, Tumut, New South Wales, 2720 Proponent Visy Pulp and Paper Pty Ltd PO Box 98 Tumut, New South Wales, 2720 Certification: I certify that I have prepared this Environmental Assessment report and that to the best of my knowledge: it has been prepared in accordance with Part 3A of the Environmental Planning and Assessment Act and Regulations; and the information...
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