Governance in a Globalizing World

Running head: GOVERNANCE IN A GLOBALIZING WORLD
Governance in a Globalizing World
Name of the Student
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Author Note

2GOVERNANCE IN A GLOBALISING WORLD
Table of Contents
Introduction...........................................................................................................................................3
1. Summary of the Key Arguments in the Article, “What Does the Royal Banking Report Mean for
Consumers?” by Nassim Khadem, business news reporter for ABC News............................................3
2. Discussion of Key Issues in Corporate Governance........................................................................4
3. Discussion of Relevant Theories and Concepts in Corporate Governance.....................................5
Conclusion.............................................................................................................................................6

3GOVERNANCE IN A GLOBALISING WORLD
Introduction
The term corporate governance refers to the system of processes, practices and rules by
which firms are directed as well as controlled. It involves balancing the varied and many
interests of the stakeholders of a company, such as customers, management, stakeholders,
financiers, suppliers, community and governance. Corporate governance today is something
that is plagued greatly by many issues and problems that need to be identified and resolved at
the earliest possible opportunity if the interests of stakeholders are to be adequately looked
into. This paper summarizes the key arguments that have been made in an ABC News article,
entitled, “What Does the Royal Banking Report Mean for Consumers?” by Nassim Khadem.
The report proceeds to discuss the key issues that exist in corporate governance today and
also discusses the relevant theories and concepts in corporate governance with an attempt to
understanding the ways by which corporate governance issues may be successfully resolved.
1. Summary of the Key Arguments in the Article, “What Does the
Royal Banking Report Mean for Consumers?” by Nassim Khadem,
business news reporter for ABC News
The primary arguments of the above article are that, based on the report produced by the
Royal Banking Commission of the Commonwealth of Australia, unethical practices on the
part of banks of charging money unethically for practically no service rendered on their part
are about to come to an end (Khadem, 2019). Mortgage brokers are now going to end up
losing most of the incentives that they normally receive by working in the interests of the
banks rather than by looking into the interests of their own clients, the days are numbered for
those engaged in the selling of useless insurance schemes for customers, as well as for people
who are involved in the sale of useless car loans and last resort compensation schemes shall