Essay - Questions 1. Good Governance is an Essential Component of Economic...

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1. Good governance is an essential component of economic success. Without good *****, particularly in large bus*****esses, it is unlikely that cohesion will result, *****d hence economic success ***** likely to be elusive. Jung & Wolfensohn (1999) take this concept to both a higher and wider level. They address the concept of governance ***** the economy on ***** scale of governments and countrywide growth. Indeed, the authors hold ***** good ***** entails not *****ly the correct appearances, but also ***** correct actions in terms of *****tegrity and accountability. A country's economy can only grow when that country's government works together with businesses in a transparent and honest manner, for the benefit ***** all and ***** just a few. In the same way, the individual business can grow ***** once ***** employees and employers work toge*****r as a unit for the benefit of **********. A lack of good governance ***** mean a scattered ***** and a ***** of focus. No business can grow on such grounds.

2. The Sarbanes-Oxley Act (SOX), has been implemented to promote accountability in publicly traded US companies. This came in response to such disasters as Enron, Tyco and Worldcom. The Act requires a number of me*****ures, including the involvement of extern*****l auditing professionals to ensure the integrity financial reports, as well as the almost real-time disclosure of any material changes in ***** company's f*****ancial situation (Information Guide, 2006). I believe that these provisions will make it much more difficult for ***** to slip beyond financial control. The penalties for noncompliance are harsh, and compliance more or less necessitates honesty in disclosure. ***** ***** believe that the presence ***** SOX would have saved Enron, Tyco ***** ***** from their s*****dals, as financial wrongdoing would ***** been detected long be*****e reaching critical mass.

3. ***** most important elements of good governance include the ability to create unity among workers, the ability ***** conduct business with *****, and communication. A single focus is vitally ***** in business ***** in *****. Such ***** can be achieved via company policies ***** as the mission and vision statements, and the involvement ***** all personnel in creat*****g these. Integrity in both leaders ***** employees ***** also important. Dishonesty in either could result in dis*****ter for companies. Communication is the element that unites everything else. Employers should encourage employees to communicate either grievances or suggestions. This opportunity will ***** not only in better mutual understanding, but also in loyalty that arises ***** being valued as an employee.

4. I certainly ***** want to do homework on any company ***** enter for the first time - and particularly one where my predecessor left under a cloud. It could mean many things, which my investigation is obviously meant to reveal. It ***** mean that the person who left w***** him***** or herself not honest and brought about an unsav*****y situation. It could also ho*****ever mean that working conditions be***** such that the person had no other choice than to leave, even if it *****t that


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