MGT 712 | Corporate Governance, Ethics and Corporate Social Responsibility

Added on - 16 Mar 2020

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Running head: CORPORATE GOVERNANCE, ETHICS AND CORPORATE SOCIALRESPONSIBILITYCorporate Governance, Ethics and Corporate Social ResponsibilityName of Student:Name of University:Author’s Note:
1CORPORATE GOVERNANCE, ETHICS AND CORPORATE SOCIALRESPONSIBILITYExecutive SummaryThe study has aimed to find out the different aspects of corporate governance, corporate socialresponsibility and ethical behaviour of Coles Supermarkets Australia Pty Ltd. This has beenshown with board structure and changes associated to the same. Some of the other aspects of thecompany have been further able to discern about the known public scandals faced by thecompany. It has been further state about the rationale for these public scandals. The ethics theoryhas been seen to be necessary in considering the different types of the public scandals. The thirdsection of the study has been further able to state on the different type of the aspects ofstakeholder and application of ASX guidelines. The final part of the study has been able, todiscern the various type of the aspect which has been seen to be related to state the Carroll’sphilanthropic model and inclusion of the same. The board structure is seen to be composed ofvarious hierarchies of management operating at different levels. The managing director of Coleshas been recognised with John Durkan, Rick Allert as a non-executive director and chairman.The two main public scandals have been identified by promoting misleading freshly baked breadin Coles store and engagement of child labour. The stakeholders has been classified as socialgroups, society, organisations, vendor and the consumers who are involved directly or indirectlywith the business or they are seen to be having stake in the business. The corporate governancepractices have been recognised with high standard thereby nurturing the culture of compliance.The divisional achiever of Wesfarmers has been further able to bring out the corporategovernance spirit by depicting corporate and personal integrity, responsibility for individuals,responsibility for the stakeholders and ethical behaviour. The application of Carroll’sphilanthropic model in Coles Department of store has been evident by holding for economicresponsibility in generating profits.
2CORPORATE GOVERNANCE, ETHICS AND CORPORATE SOCIALRESPONSIBILITYTable of ContentsIntroduction......................................................................................................................................3Board Structure................................................................................................................................3Public Scandals................................................................................................................................5Stakeholders.....................................................................................................................................6Application of “Australian Securities Exchange (ASX)”................................................................7Carroll’s philanthropic model..........................................................................................................8Conclusion.......................................................................................................................................9Reference List................................................................................................................................11
3CORPORATE GOVERNANCE, ETHICS AND CORPORATE SOCIALRESPONSIBILITYIntroductionColes Supermarket was founded in 1914 by George Coles, on April 2014, Coles has beenseen to celebrate its 100thBirthday and following the strategy of discount pricing. This has beenoften identified as supermarket chain owned by Wesfarmers. The Supermarket operator has beenseen to be operating in 801 supermarkets throughout Australia. The total number of theemployees has been further seen to be included 100000 employees. The main aspect of the reporthas aimed to state on the board structure and depict the changes associated to the same. Some ofthe other aspects of the company have been further able to discern about the known publicscandals faced by the company. It has been further state about the rationale for these publicscandals. The ethics theory has been seen to be necessary in considering the different types of thepublic scandals. This section of the study has been further seen to be taken into consideration theexample of consequentialism. The third section of the study has been further able to state on thedifferent type of the aspects of stakeholder and application of ASX guidelines. The final part ofthe study has been able, to discern the various type of the aspect which has been seen to berelated to state the Carroll’s philanthropic model and inclusion of the same(Mawass and Kanjo2013).Board StructureColes is considered as the second largest retailer in Australia. The board structure is seento be composed of various hierarchies of management operating at different levels. Themanaging director of Coles has been recognised with John Durkan, Rick Allert as a non-executive director and chairman along with John Fletcher as Chief Executive Officer andmanaging director. Based on interpretations of annual report Mr. William Gurry AO has been
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