...brings to their organization. The specific purpose of this article is to dissect the components of COSO’s ERM Framework. The author’s then describe how to take that framework and implement it into business practice, while discussing some of the challenges that may be encountered. The author’s take a minute to quickly review the COSO Framework and explain the importance of corporate governance. Companies must establish their risk appetite before implementation. Implementation takes time but is a key component of the corporate governance framework. Corporate governance addresses the needs of all stakeholders which ensures the sustainability of the company in the long term. A qualitative method was used in this study. Three of the challenges encountered during implementation were lack of support from upper management, insufficient resources and the stamina/focus to last throughout the process. Some of the success factors are a focus on strategy and business objectives, a broad consideration about the risks that face the organization, and the realization that ERM implementation is a journey spanning over a few years. The data analysis supported the author’s purpose. The results were evaluated and interpreted clearly for the reader. ERM implementation has many benefits that outweigh the cost, design, and time of implementation. Some of...
Words: 350 - Pages: 2
...Southeast University, Banani, Dhaka. . . Assignment . On . “Telecommunication Operator Grameenphone Ltd. . . Course Title: Organizational behaviour Course Code:---- . Assignment Submitted . T) . . . . INTRODUCTION . . 1. It was a talk 2000 years ago. A soldier of ancient Greece was seen running taking the challenge of his life. He started form war field ``MARATHON`` and had the destination, the city of `` ATHENCE`` which was 20 miles away. The soldier continue his running and before death he could reach with the message `` we won the Rose day life had to sacrifice to convey one massage within a distance of 26 miles. Today path finder has sent its message from 8 x 107 miles away from mars about its successful journey and this was re-broadcasted throughout the world within a fraction of second. All those were possible for the development of telecommunication system. . . 2. Now a days standing on the street or siting in a vehicle we communicate each other which require to press only few buttons , But few years back the communication system was so critical a matter that in Rose days people had to wait a hour long endorsing their mane in manual exchange resister for trunk communication in home and abroad , But at present with the help of mobile cellular telecommunication technology it is just within our finger tips. Grameenphone is the pioneer in this sector in Bangladesh. 3. Mobile technology has been identified as ...
Words: 3586 - Pages: 15
...which spearheaded the software services outsourcing strategies. Offshore outsourcing is a process in which an external organization is contracted to execute some task in an outside territory. And this has several advantages for the organizations which outsource. Infosys delivers offshore IT and software services like infrastructure support, application development, IT consulting, re-engineering and other services like setting up software development centers at different locations for their clients. Adding another feather to the Infosys¡¦ cap is a banking application that empowers banks to transform their businesses; called ¡¥Finacle¡¦. Finacle is a modular solution which can be customized to address the specific needs of retail and corporate banks globally. Infosys addresses to give end-to-end technology solutions and takes care of the issues encountered in the dynamic business environment. 1 The...
Words: 3231 - Pages: 13
...COMM390 – ASSESSMENT 1 Newspaper Article Analysis Systems Thinking and Corporate Governance in “Meeting of Minds Sparks Hope For Aborigines” Chelsea Fraser 3647213 The article, “Meeting of Minds Sparks Hope for Aborigines” by Natasha Robson demonstrates how the application of certain concepts and ideas which are often more closely associated with commerce and business thinking can be applied to different situations to achieve a beneficial outcome and/or a greater understanding of a particular issue. In this instance the concepts of systems thinking and corporate governance can be applied to develop a system under which the Aboriginal people are able to become economically sustainable in their own right rather than having to rely on the Australian Government. Article Outline Robson’s article, published May 18 2013 details the development of the relationship between Warren Mundine, a senior Aboriginal leader and political activist and Tony Abbott, then Aboriginal affairs spokesperson for the Coalition. The article details how Mundine, a staunch Labor party supporter developed a prosperous and beneficial relationship with Tony Abbott during the period dated from 2008. Being of different political associations, Mundine believed that they would have little in common. However, over time and the development of a relationship between himself and Abbott, many meaningful conversations have been had with the intention of improving the standard of living...
Words: 2025 - Pages: 9
...I invited 5 colleagues to join me on the ‘Anderson Team Journey.’ (ref) The first activity within this journey was the completion of a team effectiveness audit. The audit asked members of the Learning and Development team/workstream to answer seven questions on a 5 point Likert Scale of 1 being strongly disagree to 5 being strongly agree. An introduction to the team selected, the 5 point Likert Scale and the results of the audit can be found in appendix A. As a team we reviewed the results of the audit. The statement that received the strongest consensus of agreement of 4.6 was “we have a strong team identity – we know what the team is here to achieve and we know who is in the team.” No one was surprised that this first question had been...
Words: 1229 - Pages: 5
...MALAYSIAN CODE ON CORPORATE GOVERNANCE 2012 CONTENTS Foreword Corporate Governance in Malaysia Corporate Governance Principles and Recommendations Principle 1: Establish clear roles and responsibilities Principle 2: Strengthen composition Principle 3: Reinforce independence Principle 4: Foster commitment Principle 5: Uphold integrity in financial reporting Principle 6: Recognise and manage risks Principle 7: Ensure timely and high quality disclosure Principle 8: Strengthen relationship between company and shareholders Table 1: Comparison between the MCCG 2012 and the 2007 Code 1 FOREWORD By TAN SRI ZARINAH ANWAR Chairman, Securities Commission Malaysia The Securities Commission Malaysia (SC) had in July 2011 released the Corporate Governance Blueprint 2011 (Blueprint) which sets out the desired corporate governance landscape going forward. The essence of the Blueprint is to achieve excellence in corporate governance through strengthening self and market discipline and promoting good compliance and corporate governance culture. Boards and shareholders must embrace the understanding that good business is not just about achieving the desired financial bottom line by being competitive, but by also being ethical and sustainable. The Malaysian Code on Corporate Governance (Code), first issued in March 2000, marked a significant milestone in corporate governance reform in Malaysia. The Code was later revised in 2007 (2007 Code) to strengthen the roles and responsibilities...
Words: 6139 - Pages: 25
...command-plan economy in which market mechanism are replaced by a centralized state authority into a market economy with socialist orientation through launching a political and economic reform so-called “renovation campaign” which is often understood by foreign scholars. This reform aimed to liberalize the economy as well as encourage the potential for the development of national economy such as the private economic sectors and foreign investment including foreign-owned enterprises. To boost economic development, the Enterprises Law 1999 (the National Assembly, 1999) was enacted, though it only dealt with domestic investors, being the first real step towards corporate governance and creating a legal framework for an efficient regime of corporate governance. It also can be argued that the history of corporate governance in Vietnam started with the formation of the stock market, as just one year after issuing the Enterprises Law 1999, the establishment of the stock market was marked by the official operation of Ho Chi Minh City Securities Trading Centre in 2000. However, from...
Words: 3216 - Pages: 13
...MALAYSIAN CODE ON CORPORATE GOVERNANCE 2012 CONTENTS Foreword Corporate Governance in Malaysia Corporate Governance Principles and Recommendations Principle 1: Establish clear roles and responsibilities Principle 2: Strengthen composition Principle 3: Reinforce independence Principle 4: Foster commitment Principle 5: Uphold integrity in financial reporting Principle 6: Recognise and manage risks Principle 7: Ensure timely and high quality disclosure Principle 8: Strengthen relationship between company and shareholders Table 1: Comparison between the MCCG 2012 and the 2007 Code 1 FOREWORD By TAN SRI ZARINAH ANWAR Chairman, Securities Commission Malaysia The Securities Commission Malaysia (SC) had in July 2011 released the Corporate Governance Blueprint 2011 (Blueprint) which sets out the desired corporate governance landscape going forward. The essence of the Blueprint is to achieve excellence in corporate governance through strengthening self and market discipline and promoting good compliance and corporate governance culture. Boards and shareholders must embrace the understanding that good business is not just about achieving the desired financial bottom line by being competitive, but by also being ethical and sustainable. The Malaysian Code on Corporate Governance (Code), first issued in March 2000, marked a significant milestone in corporate governance reform in Malaysia. The Code was later revised in 2007 (2007 Code) to strengthen the roles and responsibilities of the...
Words: 6139 - Pages: 25
...passion drives us to innovate and market services that are worry-free and ‘Always On’ for our customers, so they can stay focused on the pursuit of their goals. For our enterprise customers, our integrated solutions are a compelling proposition which enables them to enhance their business goals. Our people are our competitive advantage. We prepare for the future today by developing the skills and talent of all employees, making Maxis a great place to work for great people. 2 Underpinning this is the MaxisWay, our approach to work that champions passion, positivity, and collaboration. Beyond connecting people with our services, we are passionate about making a positive impact on the community in which we operate. Our Corporate Responsibility efforts aim to develop and enrich our community, customer and partners, making working and learning fun, while advocating environmentally friendly practices. Table of Contents Overview Our Business Strategic Review 2 We Are Maxis 28 What We Do 40 Our Customers 6 How We’ve Performed 30 Directors’ Profiles 42 Our Products 7 Financial Highlights 37 Maxis Management Team 44 Our Network...
Words: 6485 - Pages: 26
...paper and paperboards and international commodities trading. Each of these businesses is vastly different from the others in its type, the state of its evolution and the basic nature of its activity, all of which influence the choice of the form of governance. The challenge of governance for ITC therefore lies in fashioning a model that addresses the uniqueness of each of its businesses and yet strengthens the unity of purpose of the Company as a whole. Globalization will not only significantly heighten business risks, but will also compel Indian companies to adopt international norms of transparency and good governance. ITC's governance policy recognizes the challenge of this new business reality in India. ITC was incorporated on August 24, 1910 under the name of 'Imperial Tobacco Company of India Limited'. Its beginnings were humble. A leased office on Radha Bazar Lane, Kolkata, was the centre of the Company's existence. The Company celebrated its 16th birthday on August 24, 1926, by purchasing the plot of land situated at 37, Chowringhee, (now renamed J.L. Nehru Road) Kolkata, for the sum of Rs 310,000. This decision of the Company was historic in more ways than one. It was to mark the beginning of a long and eventful journey into India's future. The Company's headquarter building, 'Virginia House', which came up on that plot of land two years later, would go on to become one of Kolkata's most venerated landmarks. The Company's ownership progressively Indianised, and the...
Words: 491 - Pages: 2
...(Law)Academic Associate – IIM Ahmedabad International Conference on Transparency & Accountability in Governance : Issues & Challenges ICTAG – 2012 October 13-14, 2012 2. 2. Outline of the presentation :-1. Introduction Outline2. Research Methodology3. Transparency – An Overview4. Some Initiatives on Transparency5. Issues & Challenges6. Concluding Remarks7. Video on Integrity Pact8. Q & A (c) K L Gupta 3. 3. (c) K L Gupta 4. 4. Governance:-“Governance is the manner in which power is exercised in the management of a country’s economic and social resources for development….……Good governance is synonymous with sound development management.” - World Bank (1992) (c) K L Gupta 5. 5. (c) K L Gupta 6. 6. Governance Good Governance (c) K L Gupta 7. 7. GovernanceGood Governance Journey of (c) K L Gupta Governance 8. 8. Good Governance:-Good governance means- ruling justly,- enforcing laws and- contracts fairly,- respecting human rights, property rights, and- fighting corruption…….. - Paul O’Neil, Treasury Secretary of US (2002) (c) K L Gupta 9. 9. Good Governance – Major Characteristics*:-1. Participation2. Rule of Law3. Transparency4. Responsiveness5. Equity & Inclusiveness6. Effectiveness7. Efficiency8. Accountability9. Strategic Vision10.Consensus Orientation*Source :- V K Parigi & Others, “Ushering Transparency for Good Governance”, available athttp://www.cgg.gov.in/workingpapers/Ushering_in_Transparency.pdf accessed on September 15...
Words: 972 - Pages: 4
...and VMware White Paper: Cloud Security Securing the Cloud for the Enterprise for A Joint White Paper from Symantec and VMware Contents Executive summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 1.0 Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 1.1 1.2 1.3 1.4 Enterprise computing trends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Transitions in the journey . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Evolving threat and compliance landscape . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 A security strategy for the cloud . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 2.0 Key elements of cloud security . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 2.1 2.2 2.3 2.4 Infrastructure . . . . . . . . . . . . . . . . ...
Words: 5327 - Pages: 22
...There have been four serious financial crises and countless more corporate scandals with global implications in just the last decade. All of them driven by greed and corruption, all of them led by dynamic, charismatic business leaders who initially showed fantastic promise, innovation and financial leadership. And it seems with the most recent of these crises, many of the key players in the 2008 global recession have not only not been punished, but are still in the same positions of power and able to continue their transgressions. Here are some interesting highlights of the last decade: Enron scandal (2001): Andrew Fastow the CFO of Enron along with Kenneth Lay the Chairman and Jeffrey Skilling the CEO develop an offbalancesheet mark to market fraud that loses $11 billion and bankrupts Enron. It is the largest bankruptcy reorganization in US history at the time. They are charged with conspiracy, wire fraud, securities fraud, false statements, insider trading and money laundering. Fastow serves 6 years in prison, Lay passes away before sentencing and Skilling is sentenced to 24 years in prison. WorldCom scandal (2005): Bernard Ebbers the CEO of WorldCom loses $100 billion of shareholder value in the largest accounting scandal in US history (until Madoff). Ebbers is charged with securities fraud and conspiracy and is serving 25 years in prison. Bernard Madoff (2008): Bernard L. Madoff Investment Securities LLC heads a $50 billion ponzi scheme, the largest in history, and is charged with securities fraud...
Words: 1792 - Pages: 8
...The purpose of this global sustainability report FY2014 is to evaluate whether the company provides clear information on their overall performances across the triple bottom line. The stakeholders and shareholders are interested to know how the company shapes and how they resolve social issues and environmental issues. This helps to raise corporate transparency which allow balanced and clear assessment of the company’s performance by stakeholders to facilitate corporate accountability. It also incorporates sustainability with useful data for identifying emerging issue and develops appropriate responses that helps protect corporate reputation and improve shareholder value. In this way, it helps a company to articulates its sustainability vision and strategy, and ensure that they are in line with company goals. Because the report includes the sustainability goals that the company wants to achieve, writing in the report ensure that the goals are clear and that they match with the company’s overall mission and vision. CapitaLand Limited has adopted GRI Global 4 Sustainability Reporting Guidelines in their sixth Sustainability Report and is an audited by an independent third party, Ere-S Pte. Ltd. specializing in business sustainability and provide independence assurance for this report. The report is based on GRI Global 4 Sustainability Reporting Guidelines, in accordance with the Core level requirements outlined in the G4’s reporting standards. This Report has successfully...
Words: 2029 - Pages: 9
...at University of Phoenix. The Role of Ethics and Social Responsibility “Ethics refers to the specific values, standards, rules, and agreements people adopt for conducting their lives” ("What Does "ethics" Mean?", para. 1, 2013). As strategic managers incorporate ethics into the development of a strategic plan, the company can expect notable results and achievements. Social responsibility along with ethics forms the foundation of a well-devised strategic plan that takes into consideration the diverse requirements of internal and external stakeholders. Ethics and social responsibility support the needs of stakeholders through a company’s attention to ethical codes of conduct, ethical guidelines, and social corporate responsibility. Stakeholders’ Interests “Corporate social responsibility is the idea that a business has a duty to serve society in general as well as the financial interests of its stockholders” (Pearce & Robinson, p. 52, 2013). A company uses “Ethical Codes of Conduct” throughout strategic planning...
Words: 814 - Pages: 4
