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Corporate governance and Regulatory Processes Assignment PDF

   

Added on  2021-05-30

9 Pages2502 Words89 Views
Running Head: CORPORATE GOVERNANCE AND REGULATORY PROCESSES0CORPORATEGOVERNANCE ANDREGULATORYPROCESSESSTUDENT DETAILS:

CORPORATE GOVERNANCE AND REGULATORY PROCESSES1IntroductionThe board of directors are very important in making good corporate structure. They play a key role in making decision of the organisation. The board of directors are liable for taking main decisions such as decisions of merger and acquisitions, economic decisions, financial decision and decisions of capital structure. The directors may be different from eachother in respect of family background, knowledge, gender, age, work experience, social status.As per the ASX principles, the corporate governance refers to the structure of the relationships, rules, procedures and the systems in which the authority is exercised, directed and controlled in the corporations. The ASX principle 3 states that a listed entity is required to act ethically and with the responsibility. As per the ASX principle 5, a listed company should make balanced disclosure on the time. The ASX principle 6 describes that listed entities should respect the security holder’s rights and provide them information(Tricker & Tricker, 2012). In this essay how the board diversity is important in framing good corporate governance is discussed.Scope The scope of corporate board diversity is the base of future and growth of the organisation contains all the areas of the operating business. The corporate board diversity covers entire life journey of the employees of the organisation. It contains all the details of the organisation including all the business process and services to the current customers and the potential customers. So scope of board diversity is like something blank paper on which approaches, norms, pre-determined goals, strategies, business plans, process and terms and

CORPORATE GOVERNANCE AND REGULATORY PROCESSES2conditions are written (Bottomley, Hall, Spender & Nosworthy, 2017). It contains the some specific areas. It includes the management of different culture, international organisational growth, the cross culture statements, the approaches, theoretical issues, professional ethics and professional standards in the foreign trade.What is diversity?Basically, the diversity is all about the similarities and dissimilarities between the members of any entity in term of culture, physical abilities and race. It is a condition of having different elements mainly in respect of different types of people. The theory of diversity comprises respect and the acceptance. It means it is about the understanding that every individual is exclusive. It identifies the individual differences. The Diversity refers to the dimension which differentiates the individual or group from another individual or group in respect of age, gender, status, culture and nationality.The diversity means more than recognising and accepting the differences. It is a set of practices that include understanding interdependence of civilization, cultures and the atmosphere. The diversity foretells the principals, selections, options, responses, ethics and morals of the individuals (Plessis, Hargovan & Bagaric, 2018). It includes the factors of a human being. The factors of diversity are age of the members, gender, identification of gender of human, status maintained by the members in thesociety, financial status of the members, nationality of the different members, the citizenship of the members, the different religions followed by the different members of the entity and the ability of members of entity.Benefits of the board diversity-

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