C. improve the performance of people. D. improve the quality of overall work life. 4) Which of the following statements about the management of organizational culture is NOT correct? A. dictate rules from the top of the organization. B. corporate culture can be managed by directly modifying the observable culture, shared values, and common assumptions that deal with issues of external adaptation.
Are there gray areas? How do companies assure compliance with regulations? How does your company comply? Any thoughts on how to streamline the regulatory process over accounting and finance? Of the several regulatory bodies, which has the most affect on companies?
Compliance Law | Description of Compliance Law | Rationale for Using this Law | FISMA | The act requires each federal agency to develop, document, and implement an agency-wide program to provide information security for the information and information systems that support the operations and assets of the agency, including those provided or managed by another agency, contractor, or other source. | FISMA was a way of protecting information and information systems from unauthorized access, use, disclosure, disruption, modification, or destruction within federal agencies and their contractors. | SOX | SOX not only affects the financial side of corporations, it also affects the IT departments whose job it is to store a corporation's electronic records. The Sarbanes-Oxley Act states that all business records, including electronic records and electronic messages, must be saved for "not less than five years." | SOX was enacted in response to the high-profile Enron and WorldCom financial scandals to protect shareholders and the general public from accounting errors and fraudulent practices in the enterprise.
Discuss how the Sarbanes-Oxley Act is likely to affect the CEO's and CFO's of public companies. The Sarbanes-Oxley Act Section 302 Rules 13a-15(a) and 15d-15(a) under the Exchange Act: Corporate Responsibility for Finical Reports requires that a statement be prepared to accompany the audit report signed by the CEO's and CFO's of public companies to certify that that the reports their companies file with the Securities and Exchange Commission are both accurate and complete and certified stating it’s "appropriateness of the financial statements and disclosures contained in the periodic report, and that those financial statements and disclosures fairly present, in all material respects, the operations and financial condition of the issuer." (White & Case LLP, 2003). The CEO/ CFO of public companies are required to have full knowledge of the SEC standard, pledging ignorance is not an option, if they do not meet their obligations under section 302, they can be found liable and can face litigation that could include a forfeiture of pay and bonuses under
Never the less, there is a major exception to the general concept of limited liability. There are certain circumstances in which courts of law will have look through the corporation that is lifting the veil of incorporation, otherwise known as piercing the veil and hold the shareholders of the company directly and personally liable for the obligations of the company. The veil doctrine is invoked when shareholders blur the distinction between the shareholders and the corporation. It is worthy of note that although a separate legal entity, a corporation can only act through human agents that compose it and as a result, there are two main ways through which accompany becomes liable in corporate law that is through direct liability (direct infringement) and through secondary liability (acts of its human agents acting in the course of their employment. It has been observed in DUNLOP NIGERIAN INDUSTRIES LTD.
Human variables is the study that how human behaviour can affect the operation and management of an organisation. The structure of an organisation will determine the manner in which it operates and its performance. Structure allows the responsibilities for different functions and processes to be clearly allocated to different departments and employees. In this essay, I would like to choose Virgin Group as the organisation that I research. “Virgin is a leading branded venture capital organization and is one of the world's most recognized and respected brands.
Arguments for Shareholder Primacy A common argument in favour of the opposing view – Shareholder Primacy – is that shareholders have rights of ownership, and therefore the business should be run in their interests (Stout, 2002). The complete argument is as follows: shareholders are the owners of the company, and it is wrong to use someone’s resources in ways that conflict with their interests (Fried et al., 2014). It is therefore wrong to use a company’s resources for purposes that do not further shareholders’ interests. However, there is a major problem with this argument: there are no legal grounds for the claim that shareholders own companies (Stout, 2002). Since companies are regarded as autonomous legal persons, they cannot be owned by any group of individuals (Heracleous & Lan, 2010).
ABSTRACT In this essay we will be discussing whether It is entirely appropriate that personal ethical standards should be influenced increasingly by corporate culture, as people move up the organizational hierarchy.’ We will be learning the ethical issues arise in a corporate world with example and how decisions are taken in an ethical or non ethical environment. In this essay we will discuss at what stage or particular decision person has to leave and not leave their personal ethics. Further we will also learn on the influences on unethical decision making in organizations. INTRODUCTION “Ethics is code of principles and values that governs the behaviors of a particular or group with respect to what is correct. Standards
This article also relates to IMC because the author speaks about CMO's and how they use the media strategies to try and make their products "speak" to consumers. The author of this article writes about the various ways that CMO of a company will attempt to engage with the consumers in a way that creates a sort of friendship. The main issues that a CMO faces are whether or not these types of advertisements really work. Since there is no actual evidence upon that. Also if using these strategies, they must be able to keep up, and try to make it to the top of the list, develop as many followers in their media profiles, and find a way to make friends with
The complex and highly interrelated series of actions and reactions which an organization undertakes are mainly aimed at making the best use of available opportunities and nullifying the lurking threats so that corporate objectives and goals are achieved to the maximum extent possible. The entire range of these actions, steps, decisions to act, react, or not to take any action at all, or be proactive before competitors can take the first mover advantage, form what is known as corporate strategy. Intended Strategy Intended strategy is a plan or an intended course of action thought to be most suitable for achieving predetermined corporate goals. Sometimes, if the situation so desires, to surmount an immediate obstacle or to exploit a particular opportunity; is also called a strategy. The basic concept of strategy is that it is pre-planned in nature and is given a proper shape after a lot of brainstorming.