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Medibank-Ramsay Healthcare Dispute: A Corporate Governance Analysis

   

Added on  2019-10-18

9 Pages2732 Words255 ViewsType: 255
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Running Head: CORPORATE GOVERNANCECORPORATE GOVERNANCE
Medibank-Ramsay Healthcare Dispute: A Corporate Governance Analysis_1

CORPORATE GOVERNANCETable of ContentsIntroduction......................................................................................................................................2ASX Corporate Governance Guideline...........................................................................................21. Organisation’s Governance structure..........................................................................................32. a. Appropriateness of Governance Structure in everyday situation............................................5b. Description of any issue faced.....................................................................................................6Conclusion.......................................................................................................................................7Reference List..................................................................................................................................82
Medibank-Ramsay Healthcare Dispute: A Corporate Governance Analysis_2

CORPORATE GOVERNANCEIntroductionCorporate governance is defined as set of rules, regulations and practices which acts guidance fora company to operate. A good corporate governance guideline ensures the balancing of theinterests of the stakeholders such as the shareholders, customers, suppliers, financiers andcommunity as a whole. Every company has a set of corporate governance guidelines that seeks toregulate the way a company shall operate and maintain relationship with the stakeholders. Theseguidelines are established by Board of directors of a company within which the individual canwork together to reach the objective of a company. In other words, these guidelines act aframework for the Board to conduct its business and include rule related to organisationalstructure, duties and responsibilities of Directors and officers, the ethical principles to be carriedout and other similar rules. The private and public companies in Australia follows the ASX(Australian Stock Exchange) Corporate guideline and principle. The assignment shall focus on aprivate healthcare corporate (Ramsay Healthcare Limited), defining its organisational structure,its day to day activities in compliance with the Corporate Governance guidelines, identifying anissue that has gone against any one or more such principles (ramsayhealth.com, 2017).ASX Corporate Governance GuidelineThe principles and recommendation of Corporate Governance Guideline focus on 8 principles:a. Laying solid foundation for management whereby a listed company shall disclose thefunctions and responsibilities of the Director (Beekes, Brown & Zhang, 2015). b. The organisational structure through which any company decides on the size, skill andresponsibilities of each individual in order to ensure effective discharge of duties (Christensen etal. 2015). c. Duty to act ethically and responsiblyd. Duty to make balanced disclosuree. An entity must provide appropriate information to the security holders, thereby respectingtheir rights (Lama & Anderson, 2015). f. Duty to maintain proper risk management standard and regularly review the effectiveness. g. An entity must have the duty to provide correct remuneration to the directors, design attractiveremuneration in order to retain qualified directors (Council, 2007). 3
Medibank-Ramsay Healthcare Dispute: A Corporate Governance Analysis_3

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