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, and hence economic success ***** likely to be elusive. Jung & Wolfensohn (1999) take this concept to both a higher ***** wider level. They *****ddress 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 the correct actions in terms of integrity and accountability. A country's economy can only grow when ***** country's government works together with businesses 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 ***** employees and employers work toge*****r as a unit for the benefit of all. ***** lack of good governance ***** mean a sc*****ttered business 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 ***** resp*****se to such disasters as Enron, Tyco and Worldcom. The Act requires a number of measures, including the involvement ***** external 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 (**********mation 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 and ***** from their scandals, 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, ***** ability to conduct business ***** integrity, and communication. A single focus is vit*****y ***** in business and in governance. Such focus can be achieved via company policies such as the mission ***** vision statements, and the involvement of all personnel in creating 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 either grievances or suggestions. Th***** opportunity will ***** not only in ********** mutual understanding, but ***** in loyalty that arises ***** 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 ***** reveal. It could mean that the person who left w***** him***** or herself not honest and brought about an unsav*****y *****. It could also ho*****ever ***** that working conditions be***** such that ***** person had no other choice than to leave, even if it meant *****

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