Report | BUSINESS AND CORPORATION LAW

Ethics and Governance
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ACCT20080 Ethics & Governance: Individual Capstone
Project
Student Name:
Date:

Ethics and Governance
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Executive Summary
The report is focused on the aspect of corporate governance where the
motive behind the development and presentation of the report is to build an
understanding of different sectors of corporate governance in an
organization. Woolworths Group Limited has been selected as an entity and
the scope of this report is extended to the sustainability and corporate
governance of the same. After the reading of this report, one will be able to
understand the business of Woolworths and the manner in which the
company works.
The company has a long history and is doing well in its sectors. The
remuneration policy of executive, as well as non-executive directors has
been reviewed. It is to note that only executive directors are entitled to
receive variable incentives. The company has the majority of independent
directors, it focuses on all the stakeholders and communicates with the help
of voluntary disclosure hence in this manner it is clear that the same works
using the ethical branch of stakeholder theory. Lastly, this is to state that the
company seems to be legitimate as it so all the activities to fulfill
expectations out of social contracts and provide related disclosures.

Ethics and Governance
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Contents
Executive Summary.........................................................................................1
Introduction.....................................................................................................2
Introduction and Summary of the company....................................................3
Corporate Governance: A summary................................................................4
Board Orientation............................................................................................6
Legitimacy theory and Communication of Woolworths................................10
Conclusion.....................................................................................................12
References.....................................................................................................12

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Introduction
A corporation has many stakeholders that are influenced by the
activities and decisions of the entity. In such a way, it becomes the
responsibility of an organization to adopt the best practices. This
responsibility enhances in case of companies because of the larger number
and group of the shareholder. Further, a company has to comply with
corporate law as well as other laws and therefore needs a good structure of
corporate governance. Ethics on one side reflects the approach of
management of the company whereas corporate governance prescribes the
manner of working of the company and adherence to the applicable rule and
principles. The purpose of this report is to check the corporate governance
situation in one of the companies in Australia. For the purpose of this report,
the website of the company, annual return, recent news has been
researched along with the different ethical theories Woolworths Group
Limited has selected as a corporation. The report will provide a picture
related to different sectors of corporate governance of the company. Firstly,
a summary of the company will be discussed that would consist of basic
information of the company, industry, products and recent history. Secondly,
details related to directors such as the composition of the same,
remuneration policy and reports of the chairperson shall be discussed. The
lead part of the report is related to board orientation where applying the