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


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*****. Good governance is an essential component of economic success. Without good *****, particularly in large businesses, it is unlikely that cohesion will result, ********** hence economic success is likely to be elusive. Jung & Wolfensohn (1999) take th***** concept to bo***** 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 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 together with businesses in a transparent and honest manner, for the benefit ***** all and ***** just a few. In the same way, the *****dividual business can grow only once all employees and employers work together as a unit ***** the benefit of all. ***** lack of good governance will mean a scattered ***** and a l*****ck 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 ***** response to such disasters as Enron, Tyco and Worldcom. The ***** requires a number of me*****sures, 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 (Information Guide, 2006). I believe that these provisions will make it much more difficult for companies to slip beyond financial control. The penalties for noncompliance are harsh, and compliance more or less necessitates ********** in disclosure. ***** also believe ***** the presence of SOX would have saved Enron, ***** ***** Worldcom from their s*****dals, as financial wrongdoing would ***** been detected long before reaching critical mass.

3. The most important elements of good governance include the ability to create unity among workers, ***** ability ***** conduct business ***** *****, and communication. A single focus is vitally ***** in bus*****ess ***** in governance. 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 ***** ***** ***** ***** important. Dishonesty ***** 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 ********** mutual understanding, but also in loyalty that arises ***** being valued as an employee.

4. I certainly ***** want to do homework on any company 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 to reveal. It could mean that the person who left w***** him***** or herself not honest and brought about an unsavory *****. ***** could also ho*****ever mean that working conditions be***** such that the person had no other choice than ***** leave, even if it meant *****

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