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 governance, particularly in large businesses, it is unlikely that cohesion will result, and hence ***** success is likely to be elusive. Jung & Wolfensohn (1999) take th***** concept ***** both a higher ***** wider level. They address the concept of governance and the economy on ***** scale of governments and countrywide growth. Indeed, the authors hold that good ***** entails not only the correct appearances, but also ***** correct actions in terms of *****tegrity and accountability. A country's economy can only grow when ***** country's government works together with ***** in a transparent and honest manner, for the benefit of all and ***** just a few. In the s*****me way, the *****dividual business can grow ***** once all employees and employers work toge*****r as a unit for the ***** of **********. ***** lack of good governance ***** mean a scattered ***** and a ***** 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 ***** response to such disasters as Enron, Tyco and Worldcom. The Act requires a number of me*****ures, including the involvement ***** 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 financial 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. ***** ***** believe that the presence of SOX would have saved Enron, ***** ***** ***** from their scandals, as financial wrongdoing would ***** been detected long be*****e reaching critical mass.

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

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

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