Corporate Governance and Risk Management - Assignment

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Running head: Corporate Governance and Risk Management1CORPORATE GOVERNANCE AND RISK MANAGEMENTStudent NameInstitution
Corporate Governance and Risk Management2Table of ContentsIntroduction.................................................................................................................................................21.Overview of Telstra..............................................................................................................................22.Advertised vale of Telstra....................................................................................................................33.Processes to monitor review and promote.........................................................................................54.History of Telstra over past five years.................................................................................................65.Interviews with stakeholders...............................................................................................................96.Organization’s integrity.....................................................................................................................12Conclusion.................................................................................................................................................14References.................................................................................................................................................15
Corporate Governance and Risk Management3IntroductionCompany’s values show the level of commitments that the company has express ingiving service to customers or stakeholders. The risk level of the organization, on the other hand,can reduce the ability of the company to deliver on its values and commitments. Riskmanagement is one area that helps mitigate the risk that can destroy the image of anorganization. Corporate governance is another aspect of the organization that plays an importantrole in company’s relationship with other stakeholders within the broader perspective. A moreunderstanding of the corporate governance and risk management analysis of TelstraCorporationLtd is necessary. Telstra is the Australian largest telecommunication company that offers avariety of services such as voice call network, internet access, broadband and TV services amongother services. The company has many values that are documented in the strategic statement,advertised values and what it stands for. Telstra has faced challenges that saw many service
Corporate Governance and Risk Management4outages and bad company reputation. The main aim of this paper is to audit the values of Telstraand risk from various perspectives.1.Overview of TelstraTelstra is an Australian largest telecommunication company that offers variouscommunication services such as voice calls, internet access, and Television services among othermassive products. The company has advertising platforms and documents that show its valuescommitments and performance. The company has various sustainable activities that the companyuses to promote itself to stakeholders (Telstra Corporation 2017). The primary stakeholders forthe company are the customers that the company aims to reach through their sustainablepractices. The sustainable practice that the company focuses on includes community investmentthat aims to benefit is people regardless of their demographic orientations. According tosustainability approach of Telstra that is documented in the annual sustainability report, thecompany has a sustainable program the focus on various stakeholders apart from customers.Firstly, employees are also important stakeholders of the company and are in involved in thestrategy of employee engagement. Secondly, the company sets an environmental leadership thatassists in advancing the company sustainable practices. Thirdly, the company as an elaboratesustainable governance that leads the team that promotes the company' sustainable policies. Thecommunity is another set of stakeholders that are also involved in the sustainable policy. Thecompany list the government as a key stakeholder that are also involved in the day to dayactivities of the company through licensing and the government depend on the level rangingfrom the local to the national level (Jackson 2016).
Corporate Governance and Risk Management52.Advertised vale of TelstraThe company’s values statements can be divided into three and these include the strategicstatements, core values and what the company stands for. Firstly, values statement as containedin the strategic plan includes the vision of the company, mission and core values. The vision ofTelstra is based on the statement ‘To improve the way people live'and show the commitment ofthe company towards changing the way people in Australia live. The mission of the company isalso based on the statement ‘We build technology and content solutions that are simple, easy touse and valued by our customers. We strive to serve and know our customers better than anyoneelse.’ Lastly, the core value of the company is divided into three and these are service andrespect, integrity and trust, and teamwork and accountability. These are values contained withinthe strategic plan of the company. Furthermore, the company is driven by a culture ofcollaborative and innovative, customer-driven and winning the culture. Within the strategic plan,Telstra indicated its commitment to serving customers through a collaborative approach as it alsostrives to win within the country competitive telecommunication industry (Telstra Careers 2018).Secondly, the advertised or marketing value of the organization can be viewed based onthe core values and what the organization stands for. The advertised value of Telstra is majorlybased on some elements that include better care, working better together, and making complexthings simple. Firstly, Telstra treasure it values of better care that it tries to offers to customerswithin the country and regionally. Secondly, working together with other stakeholders that torealize the vision of the company of bringing change within the telecommunication industry ofAustralia. Thirdly, another value of the company is to make the complex technologies to becomesimple and this is especially with the emerging technologies that seem complex. Lastly, the main
Corporate Governance and Risk Management6value of the company is to foster change in the telecommunication industry within Australia. Thechange value of the company is one of the areas that company has placed its focus as it seeksalso to work on other values (Telstra Corporation 2018).The company stands for change in the telecommunication industry of Australia andTelstra does this through various changes in the network and service approach. The main focusedvalue for Telstra is driving change and this overrides various other values of the company. Thecompany seeks to bring change in the telecommunication industry of Australia. To focus on thisvalue the company has an elaborate sustainable policy that aims to bring change to thecommunity touching all the stakeholders involved in the value chain of the organization. Tobuild on the other core values, the company advertises itself through series of actions. Thecompany stands for change and this is forecasted through the anticipated changes evidence innetwork growth, traffic network and digital technologies. The company tries to bring thesechanges to match the telecommunication changes that are seen in Australia and globally. Thepurpose of this value is to take responsibility for every action within the telecommunicationindustry within the country (Telstra Corporation 2013).3.Processes to monitor review and promoteThere are many different processes and procedures that the company has put in place tomonitor, review and promote the values of the organization.Telstra has governance strategy that is put in place to safeguard the sustainability interest.The company has put in place various processes that are involved in monitor, review andpromote sustainable policies. Firstly, transparency and accountability is the value of the
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