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Corporate Governance Assignment - Wesfarmers Ltd

   

Added on  2020-10-22

7 Pages1742 Words396 Views
Environmental Science
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CORPORATE GOVERNANCE:ASSESSMENT 3
Corporate Governance Assignment - Wesfarmers Ltd_1

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1ISSUES AND THEORY.................................................................................................................2BAD CORPORATE GOVERNANCE............................................................................................3CONCLUSION................................................................................................................................4
Corporate Governance Assignment - Wesfarmers Ltd_2

INTRODUCTIONWesfarmers Ltd is an Australian conglomerate which is headquartered in Perth WesternAustralia as it has attained 2nd rank out of 2000 organizations in Australia. It is involved in retail,production and coal mining, distribution and gas processing along with distribution, industrialand safety product distribution. In its annual report, it has been stated that earnings for chemicalbusiness in financial year 2019, expected to be affected through an oversupply of explosivegrade ammonium nitrate with subject to many competitive factors in Western Australian market.In their sustainability report they had clearly stated that, they will lay emphasis on climatechange resilience, energy efficiency and proactive to manage associated risk with context toclimate change due to delivering significant benefit for long term perspective1. Further, Ethicaland human source rights states that they strive to source products in responsible aspect duringoperating with suppliers for purpose of improving social and environmental practices.There is presence of Group wide Ethical sourcing policy where minimum set of standardswere set and expected for division who sells good for purpose of resale. The clear statement isabout objective is to deliver a satisfactory return to shareholders with their value creatingstrategies, growth enablers and core values such as integrity, openness, accountability andentrepreneurial support. The Coles is subsidiary of Wesfarmers as there is presence of issues inoperational analysis with heavy emphasis on supply chain of organization. There is absence ofend to end approach of supply chain and apart from this, shareholder return was insufficient forresetting risk of supply chain strategy and recognition of lower growth with high capitalexpenditure2. It is clear that top management failed to wrong acquisition and wrong home base.This case study analysis would outline issues and problems in case and discuss withperspective of corporate governance and sustainability reporting. Furthermore, it will articulateconclusion and recommendation for the respective case.1Annual report of Wesfarmers Ltd.2018. [Online]. Available through<https://www.wesfarmers.com.au/docs/default-source/asx-announcements/2018-annual-report.pdf?sfvrsn=0>.2Aguilera, Ruth V., William Q. Judge, and Siri A. Terjesen. "Corporate governancedeviance."Academy of Management Review43, no. 1 (2018): 87-109.1
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