Corporate Governance and Ethics in Woolworths Group Limited

Corporate governance and
ethics

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Company profile..........................................................................................................................3
Corporate governance mechanisms.............................................................................................3
Risk management policies...........................................................................................................8
Analysation of risk management and corporate governance.......................................................8
Recommendations........................................................................................................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................12

INTRODUCTION
Corporate governance is the system that helps the companies sin the direction and
controlling of the board of directors which are responsible for the governance of the company.
Shareholders role in the governance of the company is he most important as they are the one
which appoint directors and auditors for the satisfaction of the appropriate governance structure
in a place. In this project the research is going to be made for the Woolworths group is an
Australian retailer which is headquartered in Bella Vista, It has its extensive operations
throughout Australia and New Zealand. This project will review critically about the necessary
corporate governance practices within a modern Australian business environment. It is also the
identification and interpretation of the principles for corporate governance recommended in
Australian Stock Exchange. In this project the responsibilities of social and environmental issues
for the evolution of approach to stakeholders has been analysed.
MAIN BODY
Company profile
Woolworths Group Limited is retailer based in Australia with extensive operations all
around New Zealand. By the terms of revenue it is the largest company in Australia. It can be
said that the experience of the company started in 20th century and was able to increase diversity
in the stores. This company has been known for its corporate governance which has been very
effective as it has been able to continue with the central Woolworths group limited. It is also the
approach that has been identified as the creation of sustainable growth for enhancing the long-
term shareholder value and experiences. It has been the main attribute that has been able to
provide the legal purpose of the compliance that is able to better create experiences that can be

able to help the organization shape its commitment for meeting the needs of the customers. The
directors and the team members are expecting that is the ethical part of the responsibility of all
times that reflect the core values of the things which are done in the organization.
Corporate governance mechanisms
The corporate governance of this organization has been considered to be very good as it
is continues to related with the approach of creating sustainable growth for enhancing the long
term shareholders. The main ambitions of the creation of the sustainable growth of the
organization is related to the enhancement of the long terms of shareholders and values.
This organization has been able to describes the key corporate governance policies and
practices which helps this organization in the reporting period of the data of this report. This
company has been able to recommendation of the ASX corporate governance councils corporate
governance principles for the recommendation about the period which is covered by this
company.
This organization being a limited organization based in Australia is has been able to
develop a number of changes across the committee during the year for the management of the
organization operations which impact the growth of the organization and also provides the
business with the change in the responsibilities which are helpful for the stand-alone risk's
committee. It is also the consequential review of the board committee which is said to be
responsible for the organization determined for the establishment of risks committee a
consequential review for the board committee responsibilities which are understood to be the
critical aspect of success (Shamsabadi and et.al., 2021). The role board of directors in the
maintaining the corporate governance in the organization has been said to be the factors which
are able to develop the understanding of the ways in which it is able to influence the learning.
The purpose of the culture in this organization has been considered to be the factor which
is able to develop the core value which affect the organizational monitoring and culture. It is also
the factor which is able to develop growth of the organization. It is also the strategy which helps
the business to develop a strategic plan about the annual budget and its expenditure of the
organization. It has been said that the relationship of this organizations board of directors and the
CEO is the very effective for development of the strategies and financial planning of the duties
and responsibilities towards the CEO. This can be said that the representation for the board is
helpful for the shareholders to communicate with the board's position in the organization. The