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Good Governance and Social Resposibility > M2S1 Corporate Governance 🏛️ 2 > Flashcards

M2S1 Corporate Governance 🏛️ 2 Flashcards

1
Q

Voting rights and appointment of CEO etc falls under the concept of

A

Board Politics

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2
Q
  • Not a part of the company but can be a director
  • Have ownership but not a part of the institution
A

Independent Director

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3
Q
  • Balance decision making and the minority group
  • Non biased in terms of interest
A

Independent Director

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4
Q
  • no affiliation to the company
  • freedom from conflicts of interest
A

Independent Director

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5
Q
  • Part of the BOD but not involved in management
  • linked to the company in various capacities, like suppliers, family representatives, friends, advisers, or shareholders.
A

Non-Executive Director

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6
Q
  • Decision making
  • executive positions within the organization
  • CEO or other senior roles like vice president.
A

Executive Director

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7
Q

Directors should have triple I

A

Integrity
Intellect
Independence

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8
Q

Core Competencies for Directors

A

Integrity
Intellect
Independence
Networking:Build useful professional relationships.
Communication: Convey ideas effectively.
Critical Thinking: Make informed decisions.
Financial Literacy:Understand financial statements.
Strategic Planning: Develop long-term goals.

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9
Q

Convey ideas effectively.

A

Communication

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10
Q

Understand financial statements.

A

Financial Literacy

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11
Q

Develop long-term goals.

A

Strategic Planning

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12
Q

Make informed decisions.

A

Critical Thinking

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13
Q

Build useful professional relationships.

A

Networking

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14
Q

5 things that constitutes an effective working board

A
  • Unity
  • Networking
  • Independence
  • Commitment
  • Expertise
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15
Q

improve board efficiency by focusing on specific issues, saving time in general meetings.

A

Committees

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16
Q

The following committees are required by regulating bodies

A

Audit Committee
Remuneration Committee
Nomination Committee

17
Q

Oversee accounting and financial reporting processes and results.

A

Audit Committee

18
Q

Compensation and benefit plan through performance appraisals

A

Remuneration Committee

19
Q

Election and appointment.

A

Nomination Committee

20
Q

What are the four theoretical perspective of corporate governance?

A

Resource Dependency Theory
Agency Theory
Stewardship Theory
Stakeholder Theory

21
Q
  • Assumes conflict between managers (agents) and owners (principals)
A

Agency Theory

22
Q
  • Suggests managers may prioritize their interests over the owners’
A

Agency Theory

23
Q
  • Views managers as responsible stewards of the company
A

Stewardship Theory

24
Q
  • Assumes managers act in the best interest of the owners
A

Stewardship Theory

25
Q
  • Views corporate governance from a strategic management perspective
A

Resource Dependency Theory

26
Q
  • External resources influence the organization
A

Resource Dependency Theory

27
Q
  • Encourages considering the concerns of all stakeholders, not just shareholders
A

Stakeholder Theory

28
Q
  • Defines organizational success by the satisfaction of all stakeholders
A

Stakeholder Theory

29
Q

PESTLE

A

Political
Environment
Social
Technological
Legal
Economic

30
Q

Four Types of Resources

A

Human Resources
Financial Resources
Physical Resources
Technological Resources

31
Q

Boards are evaluated to improve practices and ensure they function effectively. Evaluations can be internal or by a third party to ensure compliance.

A

Board Evaluation

32
Q

corporations with an emotional aspect. Good governance aims to sustain economic value (revenues) and emotional value (well-being). Managing emotions is essential for effective governance.

A

Family corporations

33
Q

Membership of the Board

A

Independent Directorr
Non Executive Director
Executive Director

Good Governance and Social Resposibility (8 decks)

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