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

Questions

1. Good governance is an essential component of economic success. Without good *****, particularly in large businesses, it is unlikely that cohesion will result, *****d hence economic success ***** likely to be elusive. Jung & Wolfensohn (1999) take this concept ***** both a higher *****nd wider level. They address the concept of governance and the economy on ***** scale of governments and countrywide growth. Indeed, the authors hold that good governance 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 ***** in a transparent and honest manner, for the benefit ***** all and not just a few. In the same way, the individual business can grow ***** once all employees and employers work together as a unit for the ***** of **********. A lack of good governance ***** 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 response to such disasters as Enron, Tyco and Worldcom. ***** ***** requires a number ***** 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 the company's financial 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 *****y in disclosure. I also believe that the presence ***** SOX would have saved Enron, Tyco and Worldcom from their scandals, as financial wrongdoing would have been detected long be*****e reaching critical mass.

3. ***** most important elements of good governance include the ability to create unity among workers, ***** ability ***** conduct business with integrity, and communication. A single focus is vitally important in business and in governance. Such focus 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 ***** ***** ***** also important. Dishonesty in either could result in disaster for companies. Communication is the element ***** unites everything else. Employers should encourage employees to communicate ***** grievances or suggestions. Th***** opportunity will ***** ***** only in ********** mutual understanding, but ***** in loyalty that arises from being valued as an employee.

4. I certainly would want to do homework on any comp***** I 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 ***** reveal. It ***** mean that the person who left w***** him***** or herself not honest and brought about an unsavory 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 *****