Assignment on Corporate Governance and Ethics

Added on - 21 Apr 2020

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Running head: CORPORATE GOVERNANCE AND ETHICSCorporate Governance and EthicsName of the studentName of the universityAuthor note
1CORPORATE GOVERNANCE AND ETHICSTable of ContentsIntroduction.................................................................................................................................................2Board structure...........................................................................................................................................3Samsung Galaxy Note 7 scandal..................................................................................................................4Samsung Galaxy Note 7 stakeholders..........................................................................................................6Australian Securities Exchange Guidelines..................................................................................................7Application..................................................................................................................................................9Carroll’s pyramid of corporate social responsibility..................................................................................10Conclusion and Recommendation.............................................................................................................11References.................................................................................................................................................13
2CORPORATE GOVERNANCE AND ETHICSIntroductionSamsung is a multinational company which is based in South Korea. The headquarters of thecompany are located in Samsung town, Seoul. The company comprises of various affiliatedbusinesses. The company is the largest South Korean organization and most of its businesses arecarried on under the brand name of Samsung. The company had been founded by Lee BeyungChul in the year 1938 in form of a trading company. The organization expanded its business intoarea such as insurance retail securities and food processing in the next three decades. Theelectronic industry was entered upon by the company in the late 1960 whereas shipbuilding andconstruction was entered up on in 1970s. The subsequent growth of the company was derivedfrom these areas of operation. The company has been separated into four groups following thedeath of its founder. The company serves around the whole world. It deals with product such asconsumer electronics, medical equipment, ships, telecommunication equipment, home appliancesand semiconductors. The company also provide services such as advertisement, hospitality,Communication Technology, Financial Services and retail. There around $500,000 working forSamsung all around the globe.The purpose of this paper is to discuss the corporate governance and ethics in relation to theorganization. The paper identifies the board structure of the organization and then discusses thescandals in which the organization have been involved. The paper identifies the stakeholder ofthe company along with the discussion regarding guidelines provided by the AustralianSecurities Exchange in relation to corporate governance and then applies the guidelines to thecurrent issues of the organization.
3CORPORATE GOVERNANCE AND ETHICSBoard structureThe board of directors of Samsung Electronics comprises of five independent directors and fourexecutive directors. With respect to article 542-8 provided in the Commercial Act the majority ofthe board is constituted by the independent directors. The Board comprises of experts fromdifferent fields so that they can direct their skills towards strategic and efficient decision making.Source: Samsung.com (2017)Samsung Organization Structure
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