Corporate Strategy and Governance

This document discusses the concept of corporate governance and its impact on the performance of organizations, with a focus on Walmart. It explores the issues related to corporate governance and aims to determine the impact of corporate governance on the performance of Walmart. The document also includes a literature review on the topic.

CORPORATE STRATEGY AND
GOVERNANCE

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
LITERATURE REVIEW................................................................................................................2
RESEARCH METHODS................................................................................................................7
DATA ANALYSIS AND INTERPRETATION...........................................................................10
RECOMMENDATION AND ACTION PLAN............................................................................18
CONCLUSION .............................................................................................................................22
REFERENCES..............................................................................................................................23
APPENDIX....................................................................................................................................24
Questionnaire.............................................................................................................................24

INTRODUCTION
Background
Corporate governance is the combination of rules, laws and processes through which
organisations are being regulated, operated and controlled. It encompasses the internal as well as
external factors affecting interest of stakeholders such as customers, shareholder, government,
suppliers & the management. Directors of the company have responsibility of creating
frameworks for corporate governance that is aligned best with objectives of the firm. Specific
processes which could be outlined in corporate governance includes performance measurement,
action plan, disclosure practices, compensation decisions, procedures to reconcile the conflict of
interests, dividend policies and implicit & explicit contracts among stakeholders &company.
An effective and good corporate governance has enforced defined structure which is
working for benefits of all that are concerned assuring that enterprise adheres to the accepted
level of ethical standards, formal laws and best practices (Yermack, 2017). On the other bad
corporate governance could be described as unclear, non compliant as well as poorly structured
that could damage financial health and status of the business. Stakeholders have trust over the
audit reports of auditors and corporate that don not have coordination with the auditors or have
not adequate auditors considering the scale could produce spurious results. Good corporate
governance have far reaching impact over transparency, accountability and the of the system.
Review of the Problem/ issue of the strategy or corporate governance.
Corporate governance is used for describing balance between the participants in
corporate structure having interest in manner in which organisation is running. Corporate
governance have direct impact over the performance affecting the profitability and reputation of
the organisation. There are issues related with the corporate governance that are required to be
considered by corporation. Conflict of interest is the major issue associated with corporate
governance in cases where executives have financial interests conflicting with objectives.
Oversight issues that requires the deep monitoring and control of the executives and directors
over the daily operations having direct impact over the performance and the ways in which
objectives are being achieved (Samra, 2016). There are further issues such as issues of
accountability, transparency of operations and the ethical violations that have high impact over
operating effectiveness of the organisation.
Research Aim
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“To determine impact of corporate governance on performance of organisational
performance.” A study on Walmart.
Research Objectives
 To understand the concept of the Corporate governance.
 To identify impact of corporate governance on performance level of Walmart.
 To determine the issues related to corporate governance in Walmart company.
Research Questions
 What is corporate governance?
 What is impact of corporate governance over performance level of Walmart?
 What are different issues related with corporate governance in Walmart company?
Rationale
The research on corporate governance has been conducted as the topic provides with non
factors that affect the profitability and performance of the organisation. These factors are often
ignored by the companies and focus is given on only financial factors. Corporate governance
have equivalent importance as of financial factors on the performance of company. Along with
this there is academic interest for conducting research on corporate governance.
LITERATURE REVIEW
Theme 1 : Concept of Corporate Governance
In the view of Jacoby, (2018) Corporate governance is reviewed as system using which
organisations are being controlled & directed. Corporate governance structure specifies the
distribution of the roles & responsibilities between the various participants of company like
shareholders, managers and the other stakeholders. This involves the rules & procedures to make
decisions over corporate affairs. It provides the company with structures via which goals are
defined and means to attain the objectives & for monitoring the performance. It is also concerned
with management of operating, structuring and controlling company with view of achieving
long term goals of firm. It prescribes the code of conduct for the stakeholders ensuring effective
accountability.
Corporate governance has the focus at maximising value of shareholders ethically legally
& sustainably ensuring fairness for every stakeholder such as employees, vendors, partners,
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investors and community. It reflects the organisational policies, culture and how they are dealing
with stakeholders and commitment for values.
Good corporate governance has number of important objectives to be served. This
enhances the performance by having an efficient and effective environment motivating managers
for maximising returns return on investments, increasing the operational efficiency and long term
productive growth. This could be describes as systematic approach used for controlling and
directing the companies for enhancing wealth generation capacity as stated by McCahery,
Sautner. and Starks, (2016). Corporations have employed significant resources and funds which
requires the governance process to ensure that firms are manages in ways meeting the aspiration
of the stakeholder and the societal expectations. It has been stated by Dimopoulos and Wagner,
(2016) that corporate over principles or fairness, integrity, accountability, equity transparency
and the commitment for values. Practices of corporate governance stem from mindset and culture
being followed in the organisation. Stakeholders around the globe are interested over practices &
performance of the companies.
Corporate governance is based over principles which organisation are required to follow.
It requires company to treat the shareholders fairly and equally. It ensures that the shareholders
of company are aware of the rights & when they could exercise the rights. Contractual, legal as
well as social obligations of the non shareholders stakeholder should be upheld. It involves
discussing the pertinent data and information with the staff, vendors, investors & the society.
Corporate governance requires board of directors to maintaining the commitment for ensuring
fairness, accountability, transparency and diversity. Companies create defined code of conducts
for the boards &executives and for appointing the candidates only if candidates are meeting the
standards.
Corporate governance brings methods and order in process of decision making and the
allocation of responsibilities. Company requires to pay attention over he vision and mission
rather than personal interests of top officers. Benefits of the corporate governance are hard to
quantify on the short range. Introduction of the corporate governance have publicity images or
snob values where companies with governance get special preference and are considered as
forward looking and prosperous in view of Schmidt and Fahlenbrach, (2017). Trust generated
through corporate governance improves the participative performance of organisation. Firm with
higher performance receives increased financial capital and other resources.
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Corporate governance intends to increase accountability of the company avoiding
massive disasters before they are occurring. ownership structure of the companies is changing
lot. Mutual funds and public financial institutions are major shareholders of many of the
companies. They are having effective governance over management of the companies. It forces
management for using corporate governance for putting pressures over management for
becoming more transparent, efficient and accountable. Corporate governance requires
management for making consumer friendly projects and policies for protecting social groups for
protecting environment. For complying with the corporate social responsibilities practices rules
and regulations are framed by the effective governance in the company. Corporate governance
established effective monitoring and control practices at various levels of the enterprise ensuring
that the frauds, scandals and corrupt practices are recognised at early stage. It is also essential for
preventing the frauds that are being committed in the organisation. Effective corporate
governance is required for protecting the rights of different shareholders & other stakeholders in
event of the mergers & takeovers in the view of Hussain, Rigoni and Orij, (2018).
In current business structure board members and upper level management play an
important role for passing on chain of commands and rules to lower level of organisation.
Corporate governance is highly effective and are not to be instituted as guidelines but strictly as
the regulations to be adhered. There is positive relationship among social responsibility &
corporate governance. Firms with effective structure tends to have lower risks. Effective
governance results in higher returns and in market capitalisation. Corporations are able to
maintain their growth even in low times without reflecting the effects over financial performance
of company. It requires the company to followed structures with set rules and regulation where
the operations are carried out with increase efficiency making optimum utilisation of the
resources. Companies are achieving signifiant growth and success by strictly applying the
corporate governance regulations and keeping all the factors into consideration that could
influence the operations and performance of business. Management is able to prepare the
company in advance about the risks and uncertainties that company may face in future.
Theme 2 : Impact of corporate governance on the performance of organisation.
Performance refers to ability of organisation in achieving the mission through sound
management, string governance and persistent rededication for achieving the goals and
objectives. Dignam and Galanis, (2016) states initiatives of the firm performance help
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organisation for mitigating factors hindering attainment of missions like increased uncertainty.
Performance measurement focuses over internal processes for quantifying effectiveness and
efficiency of actions with different metrics.
Many research has been conducted over corporate governance and there is consensus that
this contributes to growth and efficiency of the firm. Corporate governance is regarded as most
effective way to supervise the operations of firm ensuring main motive of firm is maximising
wealth of shareholders. It is used by number of firms for reducing the misconduct by
corporations and the enforcement of various policies and procedures for securing right of
stakeholders. Good practices in corporate governance have positive impact over reduction of
agency costs and the inefficiencies that results from the conflicting interest between owners,
managers and stakeholders for improvement in the competitive advantage of firm in comparison
to counterparts. Effectively constituted structure of the corporate governance with adequate
number of director is effective for driving enhancement of the values for shareholders as well as
monitoring management. Performance of company is highly influenced by number of directors
on board. There are positive arguments identified by Hong, Li. and Minor, (2016)for diversity of
the board members in framework related to principal agent. Diversity of the board members
helps in formulating more diversified decisions because of acknowledgement of different
alternative in comparisons with the homogeneous boards as they understand the market better in
which company is operating. It enables them to frame more creative decisions.
Implementation of the corporate governance regulations help firms to have access over
funds and the increased returns that results in improvement in earnings. It increases the
willingness of the investors to make investment in companies with corporate governance. This is
essential for firms to innovate and continually adapt the practice of good governance and
frameworks fr grasping the new opportunities as well as meeting new demands.
Focus over business growth and corporate governance relationship is extensive and has
received higher attention. It is hard to reach at consensus of correlation and effectiveness
between business growth and corporate governance. Corporate governance are established for
ensuring that the business is achieving the goals and objectives and interest of all the
stakeholders are protected. The practices of CG are having direct impact over profitability and
revenues of company. CG practices are emerged with motive of increasing productivity and
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efficiency of the organisation. Organisations are established with the motive of earning
significant revenues.
Black and et.al., (2019) asserts good governance help firms in having favourable access
over the capital markets thought the benefits hold small values to the firms of under developed
capital market or firms having limited growth opportunities. Empirical research of the corporate
governance includes transparency and operational performance measures and the impact of
various indicators over the operating performance. Transparency had the significant relationship
with the operating performance of the business. This requires the company to be transparent in
all its operations and policies. It requires the company to follow a transparent channel through
which people working within the organisation are aware about the goals and objectives of the
organisation. It has been stated firms of the emerging markets are much influenced with the
corporate governance. It enables the company to follow well defined structure where the
employees are working for common objective of firm rather than towards the personal interest
sacrificing the vision and mission. Corporate governance helps the organisation to have a set
direction so that the functions and operations are not mismanaged. Employees in an organisation
with defined direction and structure tends to be more efficient and productive. Significant impact
are seen of the corporate governance over the performance of firms belonging to different
industries.
Theme 3 Issues related with the Corporate Governance
Good corporate governance is ideal that is difficulty in totality to achieve as per Cuomo,
Mallin and Zattoni, (2016). For implementing the CG practices institutions and companies are
coming together internationally and regionally for drafting the corresponding guidelines. In this
one of the common issue in companies is number of high interest people had brought the ideas
and experience to the policy creation discussions but does not help in making accurate
frameworks. Countries like UK have powerful and strong code of conduct from the beginning of
90s. Every company listed over stock exchange is required to comply with national code for
corporate governance else they have to justify the reason why they would not be complying. Non
compliances usually serves as red flag for the investors.
Stock exchange competes for the listings and of imposing responsibilities of CG can
make them lose their businesses. SEC is primary regulating body of the listed firms and is hot
over transparency issues & comes strict over corporations that do not make financial reports
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adequately and make disclosure of important informations to the shareholders in adequate
manner. For example, company could defy wishes of the shareholders and offer high cash bonus
to the underperforming directors which reflects poor organisational structure.
Other issues in the corporate governance are related with conflict of interest. It is seen in
organisations where the officer or controlling members are found having financial interest which
conflicts directly with objectives of corporation. Conflicts of interests in the organisation
deteriorates trust of the shareholders and public on making corporations vulnerable to the
litigations. Dimopoulos and Wagner, (2016) states effective governance requires board members
for having significant oversights of the practices & procedures of firm. It is a broad term
encompassing senior staff for reporting to directors and awareness of board over daily operations
and the manner in which the objectives are achieved. In absence of oversight staff may violate
federal or state law facing substantial penalties from regulatory bodies and can cause companies
to suffer reputational damage.
Accountability is essential for corporate governance. Senior management to the lower l
staff every division & level of corporation should be accountable and reportable to other as
systems consisting of checks of balances. Accountability issues affect the corporate governance
practices it could endanger success of entire firm or even cause shareholder to reduce their
investments. Transparency also requires company to report accurately the profits or losses to
people investing in company. Minimizing losses or over inflating profits could seriously damage
relationship with stakeholders in which they are encouraged to invest in false pretences.
Members of executive boards have ethical duty of protecting social welfare by making
decision based over interest of the stockholders. Eschewing manufacturing and minimizing
pollution in countries which do not adhere to the labour standards face ethical and social
intervention.
RESEARCH METHODS
Type of research- the research can be completed in many different ways which are
known as the type of research methods and these are of two various kind that is quantitative and
qualitative (De Groot and Hagoort eds., 2017). The qualitative is the one which includes the
analysis of attributes and qualities and the quantitative is the one which involves analysis of
factual or numeric information. In order to complete the research, research selected qualitative
type of research. The main reason underlying this fact is that this will hlep the researcher in
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getting complete in- depth knowledge of the research topic that is corporate governance. Also,
the researcher wanted to gain more knowledge of the strategies of managing corporate
governance and due to this qualitative research is being used.
Approach of research- the approach for completing the research is defined as the
assumptions and the anticipation on which the whole research was based. There are many
different types of approaches which can be used that is inductive and deductive. The inductive is
the one which is based on formulating aims and objectives and then completing the whole
research. On the other side the deductive approach is the one which includes the formulation of
hypothesis and then testing that whether the hypothesis is correct or not. For the completion of
the research has made use of the inductive approach as this is much good and effective as first
the aim and objective will be set and then the whole study will be directed towards its
completion.
Philosophy of research- the philosophy of approach is defined as values and beliefs on
which the whole research is based. It is very essential for the whole research to use a good
philosophy as the whole research is based over it only. The positivism is an approach which
includes the analysis of the factual information and facts and figures. On the other side the
interpretivism is the one which includes use of integration of human effort into the study. For the
present study the researcher has used the interpretivism as this best suits the qualitative research
type.
Collection of data- the data is the crucial element in the whole research as the whole
research is based on data being collected. There are generally two sources of data that is primary
and secondary. The primary includes the collection of data for the first time directly from the
respondent and the secondary source is the one which includes collecting data from the
secondary sources like books, articles, journals and others (Faire, ed., 2016). For the completion
of the research the use of combination of primary and secondary data was used. It was used in
form of questionnaire for the primary source and books and other articles for the secondary
source.
Sampling - Sampling is described as statistical analysis where there are predetermined
numbers of the observations taken from big population group. Method used for sample depend
over type of analysis that is performed and it can include systematic sampling or random
sampling. Sampling is used for determining the results taking a sample from large group. It is
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essential for deriving the correct results that the sample fairly represents entire population.
Probabilistic sampling uses random selection of samples (Anginer and et.al., 2018). For having
random selection method it is essential to ensure that different units of the population are having
equal probabilities of getting chosen. In the research probabilistic sampling has been used. In
sample 20 managers of the recognised firms are taken. On the other non probabilistic sampling
refers to technique where samples are collected in process which does not gives all individuals in
population the equal chances to get selected.
Analysis of data - There are two approaches for data analysis that are SPSS and thematic.
SPSS refers to Statistical Package for Social Sciences used in researches for critical statistical
analysis of data. It is used by agencies for analysing the survey data and mining of text data so
they could get accurate results from the research projects. Thematic approach refers to method
used to analyse qualitative data. This is applied to texts like interview scripts. In this approach
data is closed examined for identifying the common themes, ideas, topics and patterns of the
meaning coming repeatedly. In the research thematic approach has been used for analysing the
data. Approach is also considered as umbrella for different sets of approaches to analyse
qualitative data which shares focus for identifying the themes on qualitative data.
Ethical consideration - Ethical consideration is an important part of research. Research
participants are not subject to any harm from the research. Dignity of the research participants is
given priority and are treated respectfully in the research process. Before taking the samples
consent of the participants and mangers were taken and no pressure or influence was used for
getting the consent. Research data has been kept secured with the researcher and are not allowed
access by any other person without consent (Yermack, 2017). Data collected is used primarily
for the research purpose. Research has been conducted n fresh scale and has not been copied or
used from already researched projects. The results are not biased over a particular section or
group. The research is conducted in transparent manner.
Research limitation - Research has been conducted in an efficient manner but there are
limitations related with the research. Resources in the research were limited and limited
monetary resources. This has limited the scope of research. There was lack of time in completing
the research. It was required to complete the research appropriately. Voluntary participation was
not received in the research. It is difficult to convince managers and executive level to give their
time for research. It consumed time in taking the responses from the managers.
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DATA ANALYSIS AND INTERPRETATION
Theme 1: Yes, there is familiarity relating to the concept of corporate governance.
Particular Respondent % of respondent
Yes 15 75
No 5 25
Total 20 100
Interpretation: from the above study conducted it is evident that there is familiarity relating to
the concept of corporate governance. Maximum of the respondent agrees that they have proper
knowledge of subject area of corporate governance which is defined as mix of various types of
regulations and rules and policies which the company has to follow for managing the activities
and operations of business. The respondent who are having knowledge of research topic knows
that it is very essential for the success of the company. But in against of this remaining
respondent agrees that they are not familiar with the concept of managing corporate governance.
Also, many of the participant does not have any of the knowledge relating to the meaning of
research topic.
Theme 2: Agreed that the company is using effective practices relating to corporate
governance.
Particular Respondent % of respondent
Strongly agreed 5 25
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Agreed 8 40
Neutral 1 5
Disagreed 3 15
Strongly disagreed 3 15
Total 20 100
Interpretation: from the above study conducted it is evident that company is use various types in
order to manage the corporate governance in the business. This is assented by the maximum of
the respondent within the organization uses the practices which promote good corporate
governance that is have good and effective rules and regulations to be followed within the
company. However, in against of this some of the participant disagreed to this fact and agreed
that the company does not use the practices for managing the corporate governance in good
manner. Moreover some of the respondent also said that they have no say relating to the
corporate governance practices by company.
Theme 3: Yes, the company is publishing all the principles and policies of corporate
governance in the financial statements.
Particular Respondent % of respondent
Yes 18 90
No 2 10
Total 20 100
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Interpretation: on the study and evaluation of collected information and evaluation it is clear that
the the company is also publishing all the strategies and principles being followed by the
company relating to corporate governance. This is agreed by 90 % of the participant that the
company publish its policies of corporate governance within financial statements. This is good
for the company as all the employees and the stakeholder will come to know about all the
policies and procedures being followed and rules and regulation. Thus, if these are published
then it will be easier for other people who are coming to the place and by reading it they will
come to know about the regulations being followed within the company.
Theme 4: Positive is the impact of the using corporate governance strategies for the company
and its performance.
Particular Respondent % of respondent
Positive 14 70
Negative 4 20
No impact 2 10
Total 20 100
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Interpretation: from the above study conducted it is evident that the data relating to the above
question it is clear that the use of governance relating to corporate has positive and efficient
impact on the performance of company. This is agreed by 70 % of the participant as the
corporate governance includes the policies and procedures need to be followed by the business
company for managing the whole business. Thus, when the employees knows in advance that
what all things they have to follow and this will result in increase in the performance of the
employees as they know that how they have to complete the work. But some of the respondent
states that the corporate governance has a negative impact over the working of the company. On
the contrary some of the participant states that there is no impact over the working and
performance of corporate governance.
Theme 5: All of the above is the major impact over the implementation of the corporate
governance within the company.
Particular Respondent % of respondent
Increase in productivity of
employees 5 25
Increase in goodwill of
company 3 15
Increase in motivation of the
employees 2 10
All of the above 10 50
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Total 20 100
Interpretation: from the above study conducted it is evident that there is great impact of using
the corporate governance strategy. This fact is assented by 50 % of the respondent that all of the
above is the major impact of using the corporate governance. All of the above option includes
increase in productivity, increase in motivation of the employees and increase in goodwill of the
company. All these are the positive impact which are enjoyed by company if they effectively
make use of corporate governance. This is due to the reason that if all the rules and regulation
and roles are defined in well and advance manner then this will make sure that all these are
followed in good and effective manner. However, some of the participant states that they agree
with the these point on individual basis.
Theme 6: Proper discipline and good flow of work within the company is the major benefit of
using the corporate governance.
Particular Respondent % of respondent
Proper discipline and flow of
work in company 8 40
Clear allocation of the roles
and responsibilities 2 10
More retention of employees 6 30
Improving decision making 4 20
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Total 20 100
Interpretation: from the above study conducted it is evident that there are many different types
of benefits being enjoyed by the company when they have proper use of corporate governance.
This is agreed by 40 % of the respondent that the major advantage is that with help of corporate
governance proper rules and regulations are being applied within the business. This aids the
business in maintaining the coordination all the business activities in the direction of the
attainment of the aim and objectives of business. But some of the participant states that clear
allocation for role and responsibility is the major benefit as when the rules and regulations are
clearly stated then it is easier to manage the work. Some agrees that more retention of employees
and some states that improvement in decision making is major advantage of using corporate
governance.
Theme 7: Yes, there are certain challenges and difficulties faced by the company in managing
the corporate governance.
Particular Respondent % of respondent
Yes 16 80
No 4 20
Total 20 100
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Interpretation: from the above study conducted it is evident that with the benefit there are also
many challenges and difficulties attached with the use of corporate governance and related
concept. The maximum of the participant which is 80 % agrees that the corporate governance
includes the rules and regulations and if these are hard then there will be problem and issues in
following the corporate governance. Moreover, remaining respondent agrees that there is not
much any of the challenges being faced by company.
Theme 8: All of the above are the major challenges faced by Walmart in managing corporate
governance.
Particular Respondent % of respondent
Conflicts in the interest of
different stakeholders 2 10
Ethical issues 4 20
Transparency of policies 2 10
All of the above 12 60
Total 20 100
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Interpretation: from the above study conducted it is evident that the main difficulty being being
encountered by business organization for managing corporate governance is all of the above.
This is agreed by 60 % of the population that the all of the above is the major challenge being
faced by the company. The all of the above includes conflict in the interest of stakeholders,
ethical issues and transparency of policies. All these posses a challenge because if ethical issues
are not concerned then polices will not be effectively made and if there will be more
transparency then working will not take place in the intended manner. Also, while formulating
different policies and procedures there will be conflict because of the differences in the interest
area of different stakeholders. Moreover, remaining respondent states and assent to all the
options on basis of individual points
Theme 9: Some of the suggestion for the improvement for using the corporate governance in
more effective manner.
Interpretation: from the above study conducted it is evident that the there is necessity for the
business to have some improvement within the corporate governance strategy of the company.
Some of the respondent agrees that the main recommendation is to hire a strong and diverse
board for taking the decision and making the policies. The major reason underlying this fact is
that the business have diverse board members then they will have more of the knowledge of
different cultures and aspect and this will aid the business in formulating and managing the
policies in more proper manner.
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RECOMMENDATION AND ACTION PLAN
It has been recommended that, the company must highly focus on using effective practice
which helps in managing of governance relating to corporate rules and regualtion within the
organization. The key major challenges which has been faced within the organization are
conflicts within the interest, ethical issues and transparency within the policy. These are
considered to be the key challenges associated with the corporate governance (Yermack, 2017).
The company must effectively comply with the corporate governance. It has been recommended
that, it helps company in effectively ensuring confidence in order to create transparency within
the organization. It has been recommended that, the management of the company must focus on
assessing the current corporate governance profile.
The company will make necessary changes within the organization like making the
majority voting mandatory. The position of the chairman and the CEO must be different and also
the management of the company must highly focus on declassifying the boards. The company
must focus on changing their legal laws within prescribed time in order to comply with legal
laws, rules and regulations associated with the corporate governance. The management of the
organization must also effectively evaluate the current leadership structure within the
organization. The roles must be effectively defining the key roles and responsibility in order to
effectively disclose the duties.
Everything must be effectively disclosed by adopting to the implicit recommended
structure which eventually leads to better results and outcomes. It has been significantly
recommended that, it is the key responsibility of the organization in order to effectively expand
the diligence file associated with each nominee or director's experience and qualification.
Another key significant recommendation is that, the management of the organization must
effectively examine the independence related with the compensation committee member. This
way it will be highly significant in meeting the independence requirements. Timely audit must be
significantly carried out within the organization. This way it helps in carrying out the business in
a legal and ethical manner in order to attain the goals and objectives of the study.
Proper report must be effectively made by the management of the organization with
prescribed set of fees and various other necessaries. This is highly significant in attaining the
higher operational goals and objectives. It has been recommended that, the complete survey is
effectively carried out with adequate set of key disclosures for better accuracy and efficiency.
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Another significant measure is to know the shareholders completely. The management of the
company must analyse the key concerns which are mainly linked with the corporate governance
issues. In order to improve corporate governance within the organization, it is considered to be
useful to increase the diversity within the organization. The SEC tends to require organization to
effectively disclose the diversity policies. It is very crucial to appoint competent board members.
Those members who have significant skill and knowledge helps in providing expertise
view in order to provide best results associated with the corporate governance. Ensuring timely
information related with the corporate governance leads to better decision making. It has been
recommended that, the organization must highly focus on prioritizing the risk management and
also helps in effectively managing the risks associated with the company such as global
warming, financial risk, cyber security, etc. The management of the company must also critically
examine the strengths and weakness because it helps in evaluating the performance of the board.
The evaluation of the company and its board members must be highly significant in order to
create better interaction with the members of the board (Riboldazzi, 2016).
Action plan
Task Mode Task Name Duration Start Finish Predecessors
Auto
Scheduled Topic selection 1 day Wed 6/10/20 Wed 6/10/20
Auto
Scheduled Aims and objective draft 2 days Thu 6/11/20 Fri 6/12/20 1
Auto
Scheduled brief plan development 5 days Mon 6/15/20 Fri 6/19/20 1,2
Auto
Scheduled drafting of research proposal 10 days Mon 6/15/20 Fri 6/26/20 2
Auto
Scheduled
selection of the research
methods 8 days Mon 6/29/20 Wed 7/8/20 2,4
Auto
Scheduled Drafting questionnaire 6 days Mon 6/29/20 Mon 7/6/20 1,2,4
Auto
Scheduled
Distributing questionnaire
among participants 7 days Thu 7/9/20 Fri 7/17/20 5,6
Auto Recording of the data set 9 days Mon 7/20/20 Thu 7/30/20 6,7
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Scheduled within structured format
Auto
Scheduled
Interpretation of the
gathered data set 14 days Fri 7/31/20 Wed 8/19/20 6,7,8
Auto
Scheduled
Recommending and
conclusion 7 days Thu 8/20/20 Fri 8/28/20 2,5,9
Auto
Scheduled
Development of the action
plan 5 days Thu 8/20/20 Wed 8/26/20 5,9
Auto
Scheduled Formatting of the file 2 days Fri 7/31/20 Mon 8/3/20 3,8
Auto
Scheduled
Taking feedback from the
tutor 1 day Mon 8/31/20 Mon 8/31/20 10,12
Auto
Scheduled
Doing changes as per the
feedback 3 days Tue 9/1/20 Thu 9/3/20 13
Auto
Scheduled Final submission 1 day Fri 9/4/20 Fri 9/4/20 12,14
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CONCLUSION
From the whole of the report it is evident that managing of corporate governance is very
important as this will assist the company in making and formulating the rules and regulation to
be followed by employees. This will guide the employees in maintaining the work in more good
and efficient way as if rules and policies are not effective in working then business will not be
able to control the different activities and work in proper manner. The research also outlined that
the formulation of aim and objective is the milestone of the whole research. This is so as if the
aim and objective will not be good and correct then the whole research will not have proper
outcome.
Also, the collection of data is the most essential activity within the whole research. The
major reason underlying this fact is that when data will not be gathered and assimilated from the
valid and relevant sources then this will affect the result of the whole research. Also, the analysis
of the collected data was a crucial stage. It was due to the reason that if the information and data
will not be managed in proper manner then the research will not be successful. Thus, for this the
researcher has used the thematic analysis as this was helpful for the researcher in managing and
completing the whole research in successful manner.
22

REFERENCES
Books and Journals
De Groot, A.M. and Hagoort, P. eds., 2017. Research methods in psycholinguistics and the
neurobiology of language: A practical guide. John Wiley & Sons.
Faire, L. ed., 2016. Research methods for history. Edinburgh University Press.
Yermack, D., 2017. Corporate governance and blockchains. Review of Finance. 21(1). pp.7-31.
Riboldazzi, S., 2016. Corporate governance and sustainability in Italian large-scale retail
companies. European Scientific Journal. 12(16).
Yermack, D., 2017. Corporate governance and blockchains. Review of Finance.21(1).pp.7-31.
Samra, E., 2016. Corporate governance in Islamic financial institutions.
Jacoby, S.M., 2018. The embedded corporation: Corporate governance and employment
relations in Japan and the United States. Princeton University Press.
McCahery, J.A., Sautner, Z. and Starks, L.T., 2016. Behind the scenes: The corporate
governance preferences of institutional investors. The Journal of Finance.71(6). pp.2905-
2932.
Dimopoulos, T. and Wagner, H.F., 2016. Corporate governance and CEO turnover
decisions. Swiss Finance Institute Research Paper.(12-16).
Schmidt, C. and Fahlenbrach, R., 2017. Do exogenous changes in passive institutional ownership
affect corporate governance and firm value?. Journal of Financial Economics.124(2).
pp.285-306.
Hussain, N., Rigoni, U. and Orij, R.P., 2018. Corporate governance and sustainability
performance: Analysis of triple bottom line performance. Journal of Business
Ethics.149(2). pp.411-432.
Dignam, A. and Galanis, M., 2016. The globalization of corporate governance. Routledge.
Hong, B., Li, Z. and Minor, D., 2016. Corporate governance and executive compensation for
corporate social responsibility. Journal of Business Ethics.136(1). pp.199-213.
Black, B.S. and et.al., 2019. Which aspects of corporate governance do and do not matter in
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Cuomo, F., Mallin, C. and Zattoni, A., 2016. Corporate governance codes: A review and
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Financial Economics.130(2). pp.327-346.
23

APPENDIX
Questionnaire
Name:
Age:
Gender:
Q 1. Are you familiar with the concept of corporate governance and strategy within
company?
 Yes
 No
Q 2. Does company use effective practices for the management of corporate governance
within workplace?
 Strongly agreed
 Agreed
 Neutral
 Disagreed
 Strongly disagreed
Q 3. Does the company publish all the principles of corporate governance and strategy in the
financial statements?
 Yes
 No
Q 4. What is the impact of the managing of corporate governance over the performance of
company?
 Positive
 Negative
 No impact
Q 5. From the following which is the major impact of the implementation of the corporate
governance?
 Increase in productivity of employees
 Increase in goodwill of company
 Increase in motivation of the employees
 All of the above
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Q 6. What are the major benefits of using the concept of corporate governance within the
company?
 Proper discipline and flow of work in company
 Clear allocation of the roles and responsibilities
 More retention of employees
 Improving decision making
Q 7. Are there any problems or challenges being encountered by company in managing
corporate governance?
 Yes
 No
Q 8. From the following which are the major challenges being faced by the company?
 Conflicts in the interest of different stakeholders
 Ethical issues
 Transparency of policies
 All of the above
Q 9. What are some of the suggestion for Walmart in managing corporate governance and
strategy within company?
25

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