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how to overcome barriers to effective communication Essay...

Communication in business is the passing on of ideas and information and building relationships in this way, however in the process of doing so sometimes some issues and conditions may arise that might hinder the ideas and information being passed on from being understood clearly these are what we refer to as communication barriers. Therefore, its very important to identify the barriers of business communication to get your message across clearly. Organizational communication involves formal and informal communications throughout an organization. This branch of communications considers an organizations communications to employees, with employees and from employees to upper management. When a business or organization does not establish†¦show more content†¦Without any training it is easy to fail to recognize the effect that difference in culture which entails language, environment, social history, conceptions of authority and nonverbal communication has on communication. According to an Inc. article, ethnocentrism leads to the belief that your way of conducting business is logical, when in reality that logic stems from your own cultural upbringing. Distractions. Business interactions must take place in an environment where both parties are able to pay attention to one another free of distractions. Having a television or radio on, the constant noise of sirens or bells, poor technological connections, poor internet connections, the temperature of the room and even the appearance of the speaker can be distracting to an audience. While not all distractions can be avoided, its important to eliminate as many as possible so that your message comes through effectively. Perceptual barriers. Many times ,employees grow accustomed to perceiving things in particular ways, making it difficult to recognize new meanings. For example, a manager who prefers hiring Havard graduates may overlook the exceptional contributions that could be made by a USIU graduate. Differing life experiences, interests and values may prevent two employees from perceiving an event the same way and due to invalid perceptions, an employee may recommend incorrect solutions. Gender barriers. Although these have become lessShow MoreRelatedOvercoming Barriers Essay1218 Words   |  5 PagesTask 4: Overcoming barriers to communication The four key barriers to communication are process barriers, personal barriers, physical barriers, and semantic barriers. As an effective manager, I will have to overcome these barriers. The first barrier that I would have to overcome is the process barrier. 1). Process barriers: The process of communication involves a sender of information and a receiver of information. 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In this paper, the author will discuss the process of verbal and nonverbal communication and the associated components of each, the differences between listening and hearing in communication, the formal and informal channels of communication in criminalRead MoreM2, Review Strategies Used in Health and Social Care Environments to Overcome Barriers to Effective Communication and Interpersonal Interactions.1676 Words   |  7 PagesM2, review strategies used in health and social care environments to overcome barriers to effective communication and interpersonal interactions. D1, evaluate strategies used in health and social care to overcome barriers to effective communication and interpersonal interactions. Introduction There are many differing ideas on the best way to communicate in health and social care and there are many strategies used by the many differing professionals working in health and social care. This assignment

Proposal †Corporate Governance failureMajor Bane of nigerian banking crisis. Free Essays

string(52) " explain the failure of defunct international bank\." Abstract The banking sector is among the most vital industries in any economy. There is thus a need for regulatory bodies to prevent any issue that may arise and lead into the collapse of this sector. One of the frameworks that have for a long time ensured that companies act in the interests of their stakeholders is corporate governance. We will write a custom essay sample on Proposal – Corporate Governance failure:Major Bane of nigerian banking crisis. or any similar topic only for you Order Now However, situations have arisen where the corporate governance policies meant to protect the interests of shareholders and the business have been overlooked for selfish reasons and for the benefit of few company executive directors. Such situations are referred to as â€Å"corporate governance failures† This proposal looks at the issue of corporate governance failure in Nigeria’s banking sector, discussing its contribution to the banking crisis of 2008. It also highlights a case of banks that were gravely affected by the banking crisis, one of them being the defunct Intercontinental plc. Important literature has also been presented and reviewed in this proposal. Further, the paper presents an overview of the methodological approaches that shall be used by the researcher in the collection of data necessary for attaining the research objectives. Introduction For any economy to have a healthy and sustainable banking system, it is necessary for the parties involved in the banking sector to ensure that there is transparency and vibrancy. This enables the companies in the banking industry to maintain a positive image towards their clients and the general public. It is worth noting that in financial services’ sector, success of companies highly depends on the confidence that the target market has in them (McDougall Levesque, 2000). This can easily be achieved by organizations when the guidelines of corporate governance are strictly and diligently adhered to. The benefits of good corporate governance include promotion of goodwill and confidence of customers and other company stakeholders (Shleifer Vishny, 1997; Kirkpatrick, 2009). In the banking industry, good corporate governance involves acting ethically to protect the interests of stakeholders and being transparent in financial and non financial reporting (Beasley et al., 2000). Whilst the role of corporate governance is acknowledged by most executives and directors in the banking industry it is often overlooked. Weak systems or non-adherence to corporate governance have resulted to massive collapses of big corporations – within and outside the banking industry – across the globe (Skousen et al., 2005). Examples of companies that have failed in this respect are Enron in the United States and Cadbury and Intercontinental Bank in Nigeria. Many more incidents that depict corporate governance failure have been extensively documented in literature, especially in Nigeria and other developing and emerging economies (Solomon Solomon., 2004). Problem Statement The banking sector plays a major role in the growth of the Nigerian economy. It is a key driver of the economy and has over the years evolved since the establishment of Bank of British West Africa in 1894, the first bank in Nigeria. The banking environment in Nigeria has evolved from a government regulated environment to the era of Structural Adjustment Program of 1986 that aimed at regulating the economy based on pricing (Oso Semiu 2012). Since the market deregulation and liberalization of bank licensing process, there has been an increase in interest to oversee the operations of a number of licensed banks by the CBN and the Nigerian Deposit Insurance Corporation. However, in the recent times, range of problems have emerged with a number of banks being forced to shut down. The distress that has bedeviled the banking sector in Nigeria is said to have been largely caused by poor corporate governance. The recent financial meltdown, corporate governance failures and the fear of collapse of the financial system has led to the wave of consolidation in the banking industry, with the apex bank shrinking the number of banks to 25 and setting the minimum capital base of each bank at N25 billion (Oso Semiu 2012). The crisis that is currently looming in Nigeria’s banking industry is a revelation of the inadequacy and failure of corporate governance in the realm of Business Corporation. The current problems which have become more visible in the Nigerian banking sector have led to the calls for reforms in the banking sector as a whole. The distress experienced by financial institutions in Nigeria and across the globe has attracted much attention such that various initiatives have been put up to raise awareness of good corporate governance including by the IMF, Common Wealth Association for Corporate Program (CACG), Central Banks, United Nations Development Program (UNDP), the World Bank, and the Organization for Economic Cooperative Development (OECD), among many others. Ongoing reforms that are currently underway including prosecution of executives of some banks and the nationalization of banks have brought to the fore this issue of corporate governance and the importance of this concept in the running of corporate organizations (Oso Semiu 2012). This concept along with its various dimensions has gained increasing popularity in the recent times. Clearly, good corporate governance plays a major role in the running of business corporations and is an important step in building market confidence and ensuring long-term international investment flows into the country. Given its importance in the realm of business corporations, it is imperative that companies operate within standards that keep them focused on their objectives and hold them accountable to stakeholders (Oso Semiu 2012). Research Aims/Objectives This research aims to examine the subject of corporate governance failure and its contribution to the banking crisis in Nigeria in 2008. With reference to Intercontinental Bank Plc, this research seeks to attain the following set objectives: To explore corporate governance failure across the globe. To establish the extent to which corporate governance failure has led to the banking crisis in Nigeria. To determine the complacencies of the regulatory bodies that have led to poor corporate governance in Nigerian banks To explore on the various theories of corporate governance such as stakeholder and agency theory, and examine how they can be used to explain the failure of defunct international bank. You read "Proposal – Corporate Governance failure:Major Bane of nigerian banking crisis." in category "Essay examples" To propose a stakeholder approach for providing the single strategic framework for dealing with the crisis in Defunct International Bank To establish and make recommendations of the other possible solutions that can be implemented by banks and regulatory bodies to prevent recurrence of such bank crises. Literature review Several researchers have gained interest in the subject of corporate governance in the banking sector and for this reason, it has been extensively studied. This section intends to critically review some of these studies in relation to the situation in the Nigerian banking industry. To understand the literature on a broader conceptual setting, the paper will explore some of the definitions put forth by various researchers and their theoretical perspectives. Corporate Governance and its Problems in the Banking Industry According to Kirkpatrick (2009), corporate governance is concerned with ensuring that there is equilibrium between the economic goals of an organization and its social responsibility. In another definition given by Greuning and Bratanovic (2003), corporate governance is a set of mechanisms that have been set by stakeholders to ensure that the directors and managers involved in the managing the corporate resources, manage them in an effective manner. Das and Ghosh (2004) defined corporate governance from the investors’ point of view as â€Å"both the promise to repay a fair return on the capital invested and the commitment to operate a firm, efficiently given investments.† Structures of corporate governance in the financial services’ sector are meant to specify and distribute responsibilities of different parties that are involved in running the company. According to Das and Ghosh (2004), some of the key elements of corporate governance include adherence to good board practice, transparency, clear definition of company stakeholder rights, and commitment of company directors. Fernando (2009) also points out the pillars of corporate governance, which are independence, fairness and accountability. As argued by Kirkpatrick (2009), there are several components that constitute corporate governance. Therefore, poor governance can result from problems in any of these components. One of the problems that have affected corporate governance in the banking is the domination of company boards by one senior executive or small group of top executives that dictate the operation of the company. The apparent power that such executives possess might lead them to bypass some of the set regulations for their own benefit. Some of these benefits include financial remuneration or recruitment and appointment of staff members without following the set procedures. This argument is also supported by Greuning and Bratanovic (2003). Another corporate governance issue in the banking sector, which was pointed out by Nguyen (2010) is wrong financial reporting and intentional financial statement fraud. As banks struggle to maintain a positive image to stakeholders and the public, they often give financial reports that are appealing to stakeholders but with false entries (Wells, 2011). The common way in which this is done is through the understatement of liabilities and overstatement of assets to falsely make the company appear to be making profits. Financial statement fraud can also be carried out by individuals who find an opportunity to benefit themselves through indicating lower income figures and allocating themselves the difference. Rezaee (2005) argues that even though this can be pointed out and curbed by internal and external auditors, the auditors are also often involved in the cover up. Whilst financial statement fraud can give a good picture of the company to stakeholders on a short-term, the long-term effects are detrimental to the image and profitability of the business. Other contributors of corporate governance failure include lack of corporate social responsibility initiatives by companies and failure of the board of directors to detect and address inadequacies in the company promptly (Fernando, 2009). Failure to involve shareholders in decision making, especially on policies that affect the company’s corporate governance, is also a contributor to corporate governance failure (Kirkpatrick, 2009). Corporate Governance Theories Several theories have been established to explain and provide a better understanding of the concept of corporate governance. This report explains two of these theories, which shall be used to explore the failure in defunct International Bank, that is, the agency and stakeholder theory. The Agency Theory The agency theory refers to propositions for governance of modern corporations, where many stakeholders permit separate people to take over the control of their firms. According to Fernando (2004), the people allowed to run the firms may not necessarily be shareholders but have the skills necessary for control or management of the corporation. The agency theory further proposes different ways in which the relationships between managers and owners can be examined, especially in cases where managers of the firm have no ownership of its resources. Jensen and Meckling (1976) argue that in a case where agents are not shareholders of the firm, they are likely to fail in adherence of the corporate governance policies that have been set by the company’s stakeholders. So as to counter or minimise such issues several measures need to put in place. The costs that are incurred in setting up and implementing these measures are referred to as agency costs. For instance, firms need to have principal-agent risk-bearing mechanisms to examine the extent of risk that principals and agents can assume in return for the gains they expect. A number of critics have pointed out that many agency theorists only focus on the agency issues that arise from the agent’s side. For instance, Perrow (1986) points out that agency issues often exist both with the agents and principals. (Donaldson, 1990) argues that agents can also be viewed as team players and good stewards as opposed to being considered as opportunists and selfish. The Stakeholder Theory The stakeholder theory and its proponents argue that in any firm, there are several different groups affected by management. The stakeholder group in a firm comprises of its clients, suppliers, workers, regulatory agencies, the communities it serves and its shareholders. All these groups have different interests in the firm (Phillips, 2011). For instance, employees are interested in job security while shareholders expect dividends and sustainability. This theory stresses on the fact that the different interests of the various stakeholder groups can have an impact on the way the firm is controlled. Even though this theory has been supported by several researchers, criticisms have emerged. For instance, because stakeholders of a firm comprise of many groups, it is difficult for them to come to a consensus on the way a company should be managed. In addition to this, it is difficult for the firm to be run in a way that satisfies all stakeholders (Mansell, 2013). Nonetheless, we propose a stakeholder approach as the single framework for managing the crisis. We propose the integration of this theory with other managerial perspectives particular theories of governance and agency. What is known about Corporate Governance Failure in Nigeria’s Banking Sector It has been argued by several analysts that the banking crisis in Nigeria has occurred as a manifestation of the poor adherence to the corporate governance guidelines that have been put in place (Central Bank of Nigeria, 2011; Oghojafor et al., 2010). Banking crises have detrimental impacts on economies, which may result in destabilizing governments and increasing poverty levels among populations. Oghojafor et al. (2010) argued that many executives in the Nigerian banking sector lack the ethical principles and values that constitute good corporate governance. These include integrity, honesty, openness, mutual respect and being committed towards achieving organizational goals. Instead, they have prioritized their personal and selfish interests. This explains why the growth that was experienced by banks as well as the indices that were used in packaging their shares did not match the economic development of the banks. Such discrepancies indicate the trading off of banking practices for the benefit of bank directors and those that are loyal to them. With reference to an auditing exercise carried out by the Central Bank of Nigeria (2010), it was established that five banks had an accumulation of loans of up to N500 billion, which led to the loss of bank shareholders’ funds. After an investigation that was carried out to establish the reasons for this malpractice, it was established that the key reasons included laxity among regulatory bodies charged with the responsibility of ensuring that the banks act in the interest of their shareholders. In Nigeria, there has been insufficient commitment by the CBN in addressing the corporate governance issues that surround these banks. Onakoya et al. (2011) argues that the inadequacy of the CBN in instilling corporate governance in Nigeria’s banking sector is brought about by the dearth of personnel who are qualified and capable to execute the responsibilities of supervising and examining banking service providers. In addition to this, the possibility of compromise by the supervisors cannot be ruled out. What is Unknown (Gaps in Research) Whilst we have established that efficiency of corporate governance mechanism is an important aspect of governance reforms especially in the banking industry, there is still a dearth of research on this topic in the emerging economies. Identification of these gaps in research and carrying out studies that fill them aids in establishing recommendations that can help in preventing future detrimental impacts in Nigeria’s banking sector. Given that emerging and developing economies are the most affected by corporate governance failure issues, it is necessary for more researchers to focus on these economies. The areas that have not been extensively covered include the roles of audit committees and the influence that company board members have on their effectiveness. Further, ownership structure and its impact on firm performance with respect to corporate governance are still yet to be explored extensively in Nigeria. This area needs to be covered because of the influence that ownership structures has on accountability in business operations. Most of the researches that focus on ownership structures do not link it to corporate governance in Nigeria. Where studies have examined corporate governance failures and the impact of ownership concentration on firm performance, a large number of these studies have been based on data collected from the developed economies, which is not representative of all economies around the world. Although such data may be generalizable, it should be noted that the contextual settings of the developed and developing economies differ greatly and as such might not give an accurate picture of the developing countries. As such, there is still a gap in literature on corporate governance in the emerging markets which not even this analysis can fill. Nonetheless, the Nigerian banking industry can borrow from corporate governance policies that have been implemented in developed countries that have stable banking sectors and make necessary amendments on its policies. Research Questions This analysis will be underpinned by the following research questions: What are the key causes of corporate governance failure in the banking and financial services sectors To what extent has the lack of corporate governance led to the failure and consequent takeover of Nigerian banks by Asset Management Corporation of Nigeria (AMCON) What measures can be taken by the government and other regulatory bodies in Nigeria to ensure that corporate governance policies are adhered to Methodology Approach The main objective of the proposed dissertation is to examine the aspects of corporate governance which were lacking in the Nigerian banks that led to their failure and consequent takeover by Asset Management Corporation of Nigeria (AMCON). While the study will devote particular focus to Defunct Intercontinental bank Plc in Nigeria, it will also examine the corporate governance issues facing banks in general across the globe. There are two approaches that can be considered in attaining this objective. It could either use the secondary approach or the primary approach (Silverman, 2010). While both approaches have their advantages and disadvantages, this study shall utilize both primary and secondary approaches. Case study research strategy The case study design will provide the most reliable data for the research. The case study approach is reputable for examining and understanding complex phenomena, including the issue of corporate governance. A case study approach has been chosen as it facilitates more in-depth analysis of the research topic. As pointed out by Yin (2003), case studies are empirical inquiries that investigate contemporary phenomena within their real life contexts, and data is collected from multiple sources. It also extends experiences or strengthens of the already known concepts by linking it to previous researches. Defunct Intercontinental Bank plc has been chosen as the case study for this analysis. Data that shall be used in this research shall be qualitative, and shall be collected through interviews and other secondary sources. Research design and philosophy Our research will take an interpretive theoretical perspective and a descriptive research method will be used. A descriptive research has been chosen for the proposed dissertation in order to provide information on the current status and characteristics of Nigeria’s banking sector. Further, the descriptive research will be used to verify the following hypothesis The lack of corporate governance led to the failure and consequent takeover of Nigerian banks by Asset Management Corporation of Nigeria Data Collection and Sources As aforementioned, this research shall use both primary and secondary data sources. Primary data shall be collected through questionnaire survey method. Copies of questionnaires shall be mailed to the company’s CEO and some staff of Asset Management Corporation of Nigeria. An address data base will be developed using information available on the company’s website. To improve on the response rate, the mailed questionnaires will be accompanied by follow-up letters. The participants will be required to return their completed questionnaires by mail. Secondary data shall be obtained from company reports, archival documents, government reports and peer reviewed journals. A priority shall be given to secondary sources that address corporate governance in the Nigerian banking. Another factor that shall be considered in the selection of secondary sources shall be the periods in which they were published. Given that the banking crisis in Nigeria took place in 2008, it shall be worthwhile to select sources that were published between 2006 and 2013. Sampling Selection of respondents has to be done using the most ideal sampling technique. Whereas several sampling techniques can be applicable, the most ideal sampling method will be snowballing. According to Yin (2010), snowball sampling involves identification of a few respondents that have the attribute being sought after by the researcher and asking them to refer other suitable respondents to the researcher. Bamberger (2000) argues that snowball sampling is one of the most ideal sampling techniques for researches that involve in-depth analysis. A total of 100 respondents shall be used in this research. Data analysis Another important aspect in research is the analysis of the primary data collected. Without data analysis, it can be difficult to evaluate the research and to compare it with findings from other studies. For the proposed dissertation, the qualitative data shall be analyzed using thematic analysis method. This would involve searching through the data collected and identifying recurrent themes. This analysis shall reveal the extent to which the lack of corporate governance has been responsible for the failure and consequent takeover of Nigerian banks by Asset Management Corporation of Nigeria. Limitations of the research approaches used Even though it is definite that the research objectives of this research shall be met and research questions answered, there are several weaknesses that are associated with the qualitative approach (Yin, 2003). For instance, the scope of qualitative case studies is often limited to single or a small number of cases, a characteristic that makes it difficult to establish generality and reliability of the results obtained. In addition to this, utilization of primary qualitative research poses a challenge in establishing whether the responses given are true or false (Miles, 1979). As argued by Kopala and Suzuki (1998), findings that are presented in qualitative research could be those considered by the researcher as appropriate or significant to the research. Thus, they are prone to researcher biases. The challenge associated with secondary research is the difficulty to find sources that address specific issues of interest at specific times. Reliability and Validity To ensure reliability and validity is achieved in the research, the researchers shall ensure that qualitative data is collected from a wide variety of sources. This will help in avoiding the biases that are synonymous to qualitative research. The utilization of data from secondary sources shall supplement the data collected by interviewing research respondents. Further, to improve the practical applicability and overall validity of findings, key professionals in corporate governance shall be asked to assess the practical application of the questionnaire before being mailed to the respondents. These key professionals may include senior members of the Corporate Governance Code Development Committee in Nigeria. Modifications shall be made to incorporate comments made by these professionals. Ethical Considerations Several ethical issues have to be considered by researchers, especially in researches that involve human respondents (Patton, 2002). The researcher shall inform respondents over the phone call prior to mailing the questionnaires about the research and objectives that are intended to be met. This will enable respondents to give an informed consent before participating in the questionnaires. Given the sensitivity of the research, it shall also be necessary for the researcher to ensure that there is confidentiality of the personal information of researchers. As such, the researcher will attach a copy of the ‘Participant’s Information Sheet’ to convey confidentiality of their responses. Ethical issues may also arise from utilization of secondary sources without the consent of the original authors. For this reason, the researcher shall ensure that all the sources are acknowledged in the final dissertation report. Conclusion This paper has clearly presented a proposal that shall guide the process of carrying out the research and meeting the set objectives. It has presented and reviewed literature from several academic sources on the subject of corporate governance and the banking crisis in Nigeria. This paper has also provided the methodological approaches that shall be undertaken during the research and ethical issues and limitations that may arise when conducting the research. The paper also proposes ways in which it will address such ethical concerns and limitations and outlines ways in which it will improve on the reliability and validity of its findings. References Bamberger, M., 2000. Integrating Quantitative and Qualitative Research. New York: World Bank. Beasley, M., Carcello, J., Hermanson, D. Lapides, P., 2000. Fraudulent Financial Reporting: Consideration of Industry Traits and Corporate Governance Mechanisms. Accounting Horizons, 14(4), p.441–454. Central Bank of Nigeria, 2010. Global Financial Crisis Impact in Nigeria, Nigerian Financial Reforms and the Roles of Multilateral Developing Banks and IMF. Lagos: Central Bank of Nigeria. Central Bank of Nigeria, 2011. Public Statement on the Recapitalization of Eight Nigerian Banks. Lagos: Central Bank of Nigeria Central Bank of Nigeria. Cowry Asset Management, 2009. Nigerian Banking Report: Following the Progress of Nigerian banks in the last 10 years; A concise look at the milestones, challenges, successes and outlook of the Nigerian banking system. Cowry Research Desk. Das, A. Ghosh, S., 2004. Corporate governance in banking system. Economic and Political Weekly, pp.1263-66. Donaldson, L., 1990. The ethereal hand: organizational economics and management theory. Academy Management Review, 15, pp.369-81. Fernando, A.C., 2004. Corporate Governance: Principles, Policies and Practices. Pearson Education. Fernando, A.C., 2009. Corporate Ethics, Governance, And Social Responsibility: Precepts And Practices. Pearson Education. Greuning, H.V. Bratanovic, S.B., 2003. Analyzing and Managing Banking Risk: A framework for assessing corporate governance and Financial Risk. Washington D.C: The World Bank. Harlow, E., 2009. Encyclopedia of Case Study Research: Contribution, Theoretical. London: Sage. Jensen, M.C. Meckling, W.H., 1976. Theory of the ?rm: managerial behavior, agency costs and ownership structure. Journal of Finance and Economics, 3, pp.305-60. Kirkpatrick, G., 2009. The Corporate Governance Lessons from the Financial Crisis. Financial Market Trends, pp.51-77. Kopala, M. Suzuki, L.A., 1998. Using qualitative methods in psychology. California: Sage. Mansell, S.F., 2013. Capitalism, Corporations and the Social Contract: A Critique of Stakeholder Theory. Cambridge : Cambridge University Press. McDougall, H. Levesque, T., 2000. Customer satisfaction with services: putting perceived value into the equation. Journal of Services Marketing, 14(5), pp.392-410. Miles, M.B., 1979. Qualitative Data as an Attractive Nuisance: The Problem of Analysis. Adminitrative Science Quarterly, 24, pp.590-601. Nguyen, K., 2010. Financial Statement Fraud: Motives, Methods, Cases and Detection. New York: Universal-Publishers. Oghojafor, B.E.A., Olayemi, O.O., Okonji, P.S. Okolie, J.U., 2010. poor Corporate Governance and its Consequences on teh Nigerian Banking Sector. Serbian Journal of Management, 5(2), pp.243-50. Onakoya, A.B., Ofoegbu, D.I. Fasanya, I.O., 2011. Corporate Governance and Bank performance: A pooled Study of Selected Banks in Nigeria. European Scientific Journal , 8(28), pp.155-64. Oso, L and Semiu, B., 2012. The concept and practice of corporate governance in Nigeria: theneed for public relations and effective corporate communication. Journal of Communication, 3 (1), pp.1-16 Patton, M., 2002. Qualitative Research and Evaluation Methods. Thousand Oaks, CA: Sage. Perrow, C., 1986. Economic theories of organization. New York: Springer. Phillips, R.A., 2011. Stakeholder Theory. Glos: Edward Elgar Publishing. Rezaee, Z. Riley, R., 2009. Financial Statement Fraud: Prevention and Detection. London: John Wiley and Sons. Rezaee, Z., 2005. Causes, consequences, and deterence of financial statement fraud. Critical Perspectives on Accounting, 16(3), p.277–298. Shleifer, A. Vishny, R., 1997. A Survey of Corporate Governance. Journal of Finance, 52(2), p.737–783. Silverman, D., 2010. Qualitative Research. London : Sage Publishers. Skousen, K.F., Glover, S.M. Prawitt, D.F., 2005. An Introduction to Corporate Governance and the SEC. Mason, Ohio: Thomson South-Western. Solomon, J. Solomon, A., 2004. Corporate Governance and Accountability. West Sussex: John Wiley Sons. Wells, J.T., 2011. Financial Statement Fraud Casebook: Baking the Ledgers and Cooking the Books. New Jersey: John Wiley. Yin, R.K., 2003. Case Study Research-Design and Methods. London: Sage. Yin, R.K., 2010. Qualitative Research from Start to Finish. New York: Guilford Press. How to cite Proposal – Corporate Governance failure:Major Bane of nigerian banking crisis., Essay examples

Public Service Paradoxes - Processes - and Problems

Question: Discuss about the Public Service for Paradoxes, Processes, and Problems. Answer: Introduction: Wilson brother limited is a Canada based company, founded by the Wilson brothers, Bob and John Wilson. The company had started in the year 1960. The company has been focusing of preparing different food products from the Canadian market. The head office of the organization is situated in Brandon, Manitoba with an overall 220 employees working under the firm. Initially the organization has been operated by the brothers in six operating plants. This had provided them with initial sales revenue of $300,000. In the year 2000, the company has expanded its plants and raised their revenue up to a certain level. The company has expanded its business to United States and Europe market and has exported its products to countries like Japan and china. The organization follows Webers bureaucratic model where the structure of the firm involves the hierarchical structure of the firm with formal rules and procedures, which governs the organization and its members (Mondy Martocchio, 2016). The organization has great exponential growth due to its hardworking employees and managers. It provides attractive employment opportunity for the Canadian executives. Long with great skills of salesperson, the company has also been a cultural sensitive organization. The two brothers only took the strategic decisions for the organization. From the vice presidential level down, all operational choices made were in support of the implementation of the plans developed by the brothers. Most of Wilson Brothers Canadian operations are non-unionized, and for competitive reasons the brothers tend to prefer it that way. They have always felt that any issues with an employee could and should be dealt with directly, on a one-to-one basis. The organization had formed its own trucking firm, Able Distribution Limited, a wholly owned subsidiary of Wilson Brothers Limited. In this way, they were able to guarantee on-time deliveries to customers. More than 70% of the demand for the trucking firm came directly from food business deliveries, independently operated out of Truro, Nova Scotia. Job Design Being employed as the director of human resources for the Canadian operations, it is quite vital for me to analyse and coordinate the operations of the organization carried out in the country. It is quite important to frame various policies strategically in the organization, which would thereby help in promoting the employee conditions of the firm (Mathis, et al., 2016). I would be working under Ron Abrams, Vice President of Operations, Canada. I would work from the corporate offices in Brandon. There are various problems, which one needs to address while being the human resource director. The most vital problems are related to employment motivational and engagement. Various strategically framed provisions must be granted with adherence to employees welfare, which would help in instigating better quality of work provided along with organization loyalty (Hendry, 2012). The drivers that could be used to raise the engagement and motivation of the employees towards the organization are attachment to the job, agreeableness, emotional stability, openness to experience, achievement orientation and self-efficacy. These drivers would help in boosting the engagement of the employees by providing best quality of work. A solid job description with a clear set of performance objectives must be stated to each employee of the organization. An alignment with the strategies framed must be build, which requires a good system of communication in the organization (Bennett Ho, 2014). The firm must keep a clear sense of direction by keeping the employees well informed regarding the where about of the company. A rewarding system must be generated within the organization that would help in praising the hard work implemented by the employees within the firm. This would help in building a balance between the personal goals of the employee and the objectives of the firm (B ratton Gold, 2012). A better work environment would motivate the employees to be engaged to the organization and raise their loyalty towards the firm. It would even help in reducing the employee turnover rate for the organization. Decision Making Only the brothers, Bob and John made strategic decisions within the organization. From the Vice Presidential level down, all operational choices made were in support of the implementation of the plans developed by the brothers. The decisions that were undertaken in the organization were flexible in nature. The company could take the decisions with ease that motivated the employees to work with greater quality for the association. The organization could be listed as a sole proprietor company, where the owners of the firm take all the major decisions. This form of business organization has various merits and demerits. The merits could be listed as the Wilson brothers would have better control over the other staff members of the organization, and would be able to enjoy greater amount of profits. Yet, along with the merits, the demerits are that, the liability of the organization is only on the proprietors of the firm (Storey, 2014). This causes the lack of withstanding the hindrances in business. In order to overcome such hurdles, Wilson brothers must set strategic alliances with other companies that would act as a strengthening tool for the company. It would raise the sales of the organization and raise their market share. Equity Within the organization, the managers are hired at a starting salary that has been primarily based on their ability to negotiate their own salary rather than on a specific salary range criteria. There is no fixed policies or plans that would help in achieving employment equity or pay scale equity within the organization. This creates a hindrance towards the employee engagement of the organization. Employment equity is an important aspect of an organization. It aims at ensuring that none of the employees in the organization are denied of opportunity or employment or appraisals within the firm (Armstrong Taylor, 2014). This helps in removing the differences among the employees of the organization. In order to achieve the advancement in maintaining the equity within the organization, a new set of policies must be implemented, that would maintain a salary range for the posts of the employees. There must be a system generated with respect to rewards and appraisals that would help the employees to be motivated towards their work. It is an important aspect for the organization to maintain such policies as that would help in generating better quality of products to be delivered on behalf of the firm. Organizational Culture Wilson brothers limited tend to have great cultural sensitivity within the organization. They appoint a local representative as a CEO of the operational branch of the company n the countries where they have expanded the business. The organization has an attractive employment opportunity for the executives, managers, and other plant personnel due to its Canadian roots, culture and success. Yet, the company faces significant issues regarding the recruitment of people in Vancouver. The cost of living at such places is quite high that exceeds the real income. Corporate culture is considered as one of the most important tools to be pertained within an organization. It aims at bringing success to the organization by fitting the cultures within the firm in a proper way. This would help in implementing the work process with ease. By acknowledging the culture within the organization, the main aim of the organization would aim at enhancing the productivity of the firm (Marler Fisher, 2013). The leaders or the senior managers must create the cultures within the organization. Being the human resource director, the duties and responsibilities within the organization must be maintained well that would help in increasing the ability of the organization to build the gap between hr activities and cultural awareness within the organization. Organizational Change Under the Wilson Brother Limited, the organization has started their own distribution system known as Able Distribution Limited. In this way, they were able to guarantee on-time deliveries to customers. More than 70% of the demand for the trucking firm came directly from food business deliveries, independently operated out of Truro, Nova Scotia. However, the global cost increases in petroleum products have been significant; and because of the need to keep product prices low, transportation cost is a major area of concern for the Company. With the new transition implemented by the organization to develop their own distribution channel, it is quite important for the firm to frame such policies that would analyse the plans to be prepared and implemented by the organization. The organization needs to implement cost effective strategies that would help in undermining the transportation cost of the organization. Work Groups/Teams Most of Wilson Brothers Canadian operations are non-unionized, and for competitive reasons the brothers tend to prefer it that way. They have always felt that any issues with an employee could and should be dealt with directly, on a one-to-one basis. The brothers believe they need to operate with flexibility in order to make quick strategic decisions, develop new product ideas, and take them to launch as quickly as they do. The work teams within the firm carry out the orders of the secondary and the head managers of the firm, that are regulated by the owners of the organization. . The brothers attend two noteworthy team meetings. The first team, which includes the CEOs from all of the European and Asian subsidiaries, meets once every three months at the corporate office in Brandon. The purpose of this team meeting is to discuss and improve profit results. The brothers also meet once a month with a second team -- the senior executive team in Canada, which includes the VP Sales-Retail, VP Sales-Food Service, Executive VP Marketing, VP Engineering, VP Finance and VP Operations. No other formal team meetings are held in the company. There are groups that meet on an ad-hoc basis to manage new product implementation; these employees come from Sales, Marketing, Finance and Operations. In order to impose the stability of the work team the organization must improve the labour agreements to be generated within the organization. This agreement would add a level of structure to the firm and enable time consuming protocol thereby creating less flexibility of operational environment. Human Resource Director must see that the labour relations are encompassed an adhering to all the aspects of the employment relationship within the employer and the employees (Berman, et al., 2015). This would maintain the non-unionization of the organization, thereby enabling the organization to function smoothly in the business filed. The work teams or groups with discontentment within the organization would rather create lack in the growth of the firm. Conflict One of the major conflicts that has been perceived within the organization is that the employees of the organization are not subjected to any consistent policies on their relation issues. This employee policy has been quite conflicting in nature as the employees can be terminated at any level of employment if they fall out of the favour with the owners of the firms. This has reduced the job security of the employees that thereby subjects them to a risk related to job guarantee. This would create a positive effect on the employee turnover rate of the organization. There have been no current implementations of any plans or policies to bring the situation under control. it is quite vital for the organization to undertake some beneficial policy implementation steps that would help in controlling this conflict within the organization. This conflict would harm the productivity of the firm as the productivity is positively related to the employees of the firm. According to the human resource policies, the employee engagement could be done by generating specific confirmation employment policies (Truss, Mankin Kelliher, 2012). This confirmation policy would subject the employee to a period of training and under surveillance, and based on the performance, they must grant a certificate of confirmation to the related individual. This would help them in assessing the guarantee in relation to their job within the organization; hence, they would not search for anther jobs in related field and maintain a low employment turnover rate. Leadership Style The leadership style that has been within the organization is hierarchical in nature. The major leaders are the owners of the firm, who take the major decisions regarding the implementation of the strategies in the organization. The managers of the organization carry out the orders of the owners. This form of leadership has both merits and demerits. The merits could be stated as the hassle free implementation of decision undertaken by a handful of members (Jiang, et al., 2012). The demerits related to such a leadership is that, the risks that are borne by the owners do not reach the employees, hence, they would not undetermined by the current situation that the firm is being through. It is an important responsibility of the Human Resource Director to maintain the issues prevailing in the leadership trait of the organization. Such organization must maintain a specific form of efficient leadership in the organization that must be supported by a good communication system (Brewster, Mayrhofer Morley, 2016). This would ensure that all the members related to the organization are acknowledging the current situation of the firm. Power, Influence and Motivation In order to maintain the efficiency within Wilson brothers limited, the organization must develop a powerful and influential effect on the employees. This would help in motivation them and engaging them towards the organization. Employment engagement is quite vital for the firm, as it would help in maintaining the efficacies of the firm. Employee engagement generation should be a key aspect for the HR director (Purce, 2014). The policies must be implemented in such a manner that would help in incorporating better management of the firm. The leaders of the firm must be influential enough that would instigate a sense of motivation among the employees. The firm along with job guarantee to the employees must generate reward programs. The appraisals to be generated by the organization must be based on performance of the employees that would instigate a motivational aspect for the employees of the firm (Kramar, 2014). Better-implemented ideas would leave a positive impact on the productivi ty of the organization. Reference Armstrong, M., Taylor, S. (2014).Armstrong's handbook of human resource management practice. Kogan Page Publishers. Bennett, J. M., Ho, D. S. (2014). Human resource management. InPROJECT MANAGEMENT FOR ENGINEERS(pp. 231-249). Berman, E. M., Bowman, J. S., West, J. P., Van Wart, M. R. (2015).Human resource management in public service: Paradoxes, processes, and problems. Sage Publications. Bratton, J., Gold, J. (2012).Human resource management: theory and practice. Palgrave Macmillan. Brewster, C., Mayrhofer, W., Morley, M. (Eds.). (2016).New Challenges for European Resource Management. Springer. Hendry, C. (2012).Human resource management. Routledge. Jackson, S. E., Schuler, R. S., Jiang, K. (2014). An aspirational framework for strategic human resource management.The Academy of Management Annals,8(1), 1-56. Jiang, K., Lepak, D. P., Hu, J., Baer, J. C. (2012). How does human resource management influence organizational outcomes? A meta-analytic investigation of mediating mechanisms.Academy of management Journal,55(6), 1264-1294. Kramar, R. (2014). Beyond strategic human resource management: is sustainable human resource management the next approach?.The International Journal of Human Resource Management,25(8), 1069-1089. Marler, J. H., Fisher, S. L. (2013). An evidence-based review of e-HRM and strategic human resource management.Human Resource Management Review,23(1), 18-36. Mathis, R. L., Jackson, J. H., Valentine, S. R., Meglich, P. (2016).Human resource management. Nelson Education. Mondy, R., Martocchio, J. J. (2016). Human resource management.Human Resource Management, Global Edition. Purce, J. (2014). The impact of corporate strategy on human resource management.New Perspectives on Human Resource Management (Routledge Revivals),67. Storey, J. (2014).New Perspectives on Human Resource Management (Routledge Revivals). Routledge. Truss, C., Mankin, D., Kelliher, C. (2012).Strategic human resource management. Oxford University Press.