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

1 2
Copyright Notice


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

2. The Sarbanes-Oxley Act (SOX), has been implemented to promote accountability in publicly traded US companies. This came in resp*****se to such disasters as Enron, Tyco and Worldcom. The ***** requires a number ***** measures, including the involvement of external 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 (*****formation 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. ***** also believe that the presence ***** SOX would have saved Enron, ***** and Worldcom from their scandals, as financial wrongdoing would have been detected long be*****e reaching critical mass.

3. ***** most important elements of ***** governance include the ability to create unity among workers, the ability to conduct business ***** integrity, and communication. A single focus is vitally important in business ***** in governance. Such ***** can be achieved via company policies such 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 disaster for companies. Communication is the element that unites everything else. Employers should encourage ***** to communicate ***** grievances or suggestions. This opportunity will ***** not only in better mutual understanding, but ***** in loyalty that arises from being valued as an employee.

4. I certainly ***** want to do homework on any comp***** ***** 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 was him***** or herself not honest and brought about an unsavory situation. It could also however mean that working conditions became such that the person had no other choice than to leave, even if it *****t tha*****


Download entire paper (and others like it)    |    Order a one-of-a-kind, custom paper

Other topics that might interest you:

© 2001–2016   |   Essay about Questions 1. Good Governance is an Essential Component of Economic   |   Essay Example