logo

Corporate Governance of Woolworths

   

Added on  2021-06-17

17 Pages4245 Words252 Views
1WOOLWORTHS CORPORATE GOVERNANCEStudent’s Name:Institution:

2Executive SummaryThe report looks at corporate governance of Woolworths focusing on leadership in which theboard is the key leading unit and whose corporate structure rest. The board steers the leading andbusiness of Woolworths with strategic leadership. Moreover, the social responsibility is anotheraspect examined and Woolworths embraces sustainable environmental business and take care ofthe concerns of the community through inclusion in employment, balances gender and uses greeninitiatives. The Risk management aspect places the organization at the top because they use thethree line defense model where all three levels of structure get involved in risk management. It isclear that Woolworths’ corporate governance practices are optimal because they adhere to rules,regulations and codes of conduct.

3Table of ContentsExecutive Summary.........................................................................................................................2Introduction......................................................................................................................................3Company Background.....................................................................................................................3Corporate Governance.....................................................................................................................4Woolworths Corporate governance.................................................................................................5The leadership..............................................................................................................................5Ethically and Responsibly............................................................................................................6Corporate Social Responsibility..................................................................................................6Risk Management and Assurance....................................................................................................7Risk Management Strategies...........................................................................................................9Risk Avoidance.............................................................................................................................9Risk Reduction..............................................................................................................................9Risk Transfer................................................................................................................................9Risk Retention............................................................................................................................10Woolworths’ Three Line Defense Model...................................................................................10The Commitment to Optimal Practices.........................................................................................10Conclusion.....................................................................................................................................12References......................................................................................................................................13Appendices....................................................................................................................................15

4Introduction The success of every organization depends on the structure of governance and howemployees take up with the structure presented. Corporate governance is now being employed bythe much leading organization in business. It is with this point of view that the report is going toexamine the corporate governance of Woolworths. The structure of the report begins by givingthe background of the company and the followed by the description of corporate governance, thecorporate governance of Woolworths, which encompasses leadership, corporate socialresponsibility, risk management and assurance. Furthermore, the report looks at some strategiesused in managing risk; the three lines defense Model that is adopted by Woolworths. Anevaluation of whether Woolworths’ practices are optimal gets presented and the report ends bygiving a conclusion.Company BackgroundWoolworths is the leading organization in the retail business in Australia which getsconnected with the company’s strategic techniques that cut across business, branding, corporate,leadership, pricing and quality products. Irrespective of its success, the company experiencescompetition from competitors such as Coles, Wesfarmers, Carrefour, ALDI, Safeway, Metro,Distributor, Giant Eagle, and Supermarcato24. The company has stood to be the leader in thisindustry. Corporate GovernanceThis is a system in which companies get controlled and run and different bodies havefunctions charged to ensure that organization is in good leadership control. The board ofdirectors’ role is to ensure that there is good governance by setting strategies, putting leadershipinto effect, provide supervision and report to the shareholders (Aggarwal, 2013). On the other

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Woolworths Critical Review
|10
|2465
|110

Corporate Governance and Risk Assessment of Woolworths Group Limited
|12
|2938
|433

WOOLWORTHS GROUP Name of the Student Name of the University Author Note Introduction
|11
|2709
|191

Regulation and Compliance
|10
|2892
|58

Audit, Assurance and Compliances | Presentation
|13
|877
|24

Environmental risks which are covered
|14
|3091
|12