Business Finance Homework Help

discussion question for this week, and all I need is a brief discussion with two sources (Hopkin & an external one). Here is the question.

Hopkin states that the purpose of corporate governance is to facilitate accountability and responsibility for efficient and effective performance and ethical behavior. Select one of the OECD principles of corporate governance (Table 28.1, page 341) and briefly discuss how it supports Hopkin’s statement.

And here is the reading (I attached the book, please find it)

We will focus on Part 7 of the Hopkin text (Risk Governance). Read Chapters 28, 29, and 30 in the Hopkin text (pages 339 – 379). 

Also, I want a reply to my colleague’s post with an external recourse. Here is the post.

Hopkin states that the purpose of corporate governance is to facilitate accountability and responsibility for efficient and effective performance and ethical behavior. 

The OECD principles of corporate governance I will discuss in support of Hopkin’s statement is V. Disclosure and Transparency. Timely and accurate disclosure is made on all material matters, including the financial situation, performance ownership, and governance of the company (Hopkins, 2017). With that being said, when it comes to emergency management, it’s very important to have a strong team. The public relies on us and in order for us to provide effective and efficient services, we must internally strengthen our organization.  By being coordinated and unified we are able to function to the best quality. If learning is shared, all the group forces of identity formation and cohesion come into play in stabilizing that learning because it comes to define for the group who we are and what our purpose or “reason to be.” (Schein, 2016)  

Open and honest communication between not only the employees but also with those leading as well. Creating a work environment that provides mutual respect and equal opportunity for all personnel. Encourage having a comfortable relationship with management to better understand an individual and what works best for them. Discussing issues openly, sometimes someone might pick up on something that was missed. It will increase work morale, improve outcomes, and boost confidence for everyone in the working environment. 

Transparency is mandatory as it can improve group effectiveness as well as open communication across the status levels.  Knowing what is expected of you or what needs to be done at the end of the day gives employees a clear picture. This helps to define roles, responsibilities, and who will be held accountable. Having an unclear chain of command can lead to a lack of/poor communication. Use effective supervisory and leadership principles of duty, integrity, and respect, providing a vision to the members to accomplish the mission and creating an environment of cooperation, collaboration, and perseverance. (FEMA, 2017) 

References 

Federal Emergency Management Agency. (November 2017). Retrieved from https://www.fema.gov/media-library-data/1511798700826-e38977943819bb12064e3144cca7c576/FnlRvwIMH20171026v1945(508).pdf (Links to an external site.) 

Hopkin, P. (2017). Fundamentals of risk management: Understanding, evaluating, and implementing effective risk management. London, NY, NY: Kogan Page. 

Schein, E. H., Schein, P. 2016, Organizational Culture and Leadership, John Wiley & Sons, Incorporated,  
ProQuest Ebook Central, http://ebookcentral.proquest.com/lib/philau/detail.action?docID=4766585 (Links to an external site.)