country
$20 Bonus + 25% OFF
Securing Higher Grades Costing Your Pocket? Book Your Assignment at The Lowest Price Now!

Employer Surveillance Versus Employee Privacy

tag 0 Download8 Pages 1,781 Words tag Add in library Click this icon and make it bookmark in your library to refer it later. GOT IT

Question:

Discuss about the Employer Surveillance Versus Employee Privacy.
 
 

Answer:

Introduction:

From the case study two major risks had been identified. First, the Australian Securities and Investment Commission (ASIC) had provided warning notice to Australian Financial Planning Limited (TAFP) indicating that 38 planners of the company had been classified as “critical risk” for non-compliance with the protocols of financial advising.  It had been found that, some of the employees like Donald (Don) Vanvo, are engaged in unethical business action. He had a bad reputation of notching through unscrupulous means. He was under the protection of management due to his status as top performer at Terra Australis Bank (TAB). 

Secondly, Australian Financial Planning Limited (TAFP) has nurtured an aggressive culture with the help of ambitious sales-driven program and excessively short-term remuneration incentive scheme. It provides a little place of honesty for the employees. Employees like Don, started to deceive their clients that their money is lost due to misfortune (for Don’s personal benefit). Other planners like Steve McDuck and Adam Gillespie are also the part of this fraudulent. Despite of all the attempts made by the whistleblowers to warn the management about the fraudulent, the top management has no taken any action. In the year of 2010, the management team had developed a “divide and conquer” compensation policy for the clients. It allowed TAB to incur minimal expenses in the compensation. Hence, lack of customer protection is considered as the major risk faced by the company.

Form the case study it can be identified that these kinds of ethical issues and compliance risks occurred in the company due to the faulty management. Hence, Sam Venus needs to redevelop the management team by removing the existing one from the company. Sam Venus needs change the aggressive business driven culture used in the company and develop ethical policies that every employee has to follow. A team has to be developed who will observe and report about every activity of the company employees. In addition a new compensation scheme for the victims needs to be developed.

It has been found from the case study that majority of the planner’s total remuneration depends upon the short-term incentives like bonuses. Commissions of planners depend on the risk levels of investment assets sold. Hence, financial planner’s behaviour is highly affected by this remuneration plan.  They get incentives for encouraging their customers to opt for more risky investment portfolios. The behaviour of the top management is unforgiving “meet your sales targets, or surrender your rice bowl.” This type of aggressive culture of company is nurtured with the help of highly sales-driven and extremely short-term incentive scheme. The remuneration plan has only a little place of honesty in its business operation. 

It forced the planners of the company like Donald (Don) Vanvo, Steve McDuck and Adam Gillespie to follow unethical approaches. They secretly manipulate the risk profiles of their customers into adopting hyper-aggressive and risky investment portfolios to draw high commissions. They often forged the signature of their customers in order to transfer their capital to high risk products that were eventually wiped out when financial crisis stuck during 2009. In these cases, they often deceive and manipulate their customers by saying that their investment was lost due to misfortune. It gave rise to issues such as lack of compliance with financial investment policies and conflict of interests in the financial planning arm (Bodie 2013).    

In this case study, Australian Securities and Investments Commission (ASIC) was criticized for being very slow and inadequate in its response. During February 2008, ASIC had provided TAFP a warning notice. It indicated 38 planners for non-compliance with the financial planning protocol. . On 30 October 2008, under the alias of “The three Masketers”, Bloes and two other planners faxed a report to ASIC, to take urgent actions of Don. However, ASIC had not taken any initiative to gather evidence from TAFP about Don. Instead in December 2008, they opted for a discussion with TAFP. It resulted a joint solution to closely supervise Don. On 24th February 2010, the whistleblowers went to the office of ASIC and demand to seize the client files from TAFP and take decisive action. On 24th March ASIC ordered TAFP to hand over their client’s file undergoing investigation within 2 weeks. It can be considered as the first sign of confrontation between TAFP and ASIC. Then the ASIC had started investigation confirmed the frauds of Don and financial planners in TAFP.

 

In this context some major issues had been faced by the ASIC. The main concern is that the reputation of ASIC as a government is not very good. In this context in the final report, the Committee chairman Senator Alexander Pope stated that “ASIC appears to miss or ignore clear and persistent early warning signs of corporate wrongdoing, or troubling trends that place the interest of consumers or investors at great risk.”

It has been found that media had a significant role in exposing the fraud in TAFP. It had been found from the case study that a series of articles was published by Gotham Investor during 2009. They had highlighted 14 cases of forgery from early 2008. Form this case study, it is clear that the media has important role to play in promoting good governance. Harford et al. (2012) stated that governance is a key concept for democratic development in majority of the countries around the world for the last few years. According to Liu and McConnell (2013), the media has the duty to perform the monitoring duty and play the role of mirror of the society. They have important role to play to acknowledge people about good governance and information Act. Miller and Skinner (2015) mentioned that disclosures of the government information by the media can turn people into informed citizen and help them to enjoy their freedom of speech. It also helped them to take rational decisions. Lee et al. (2015) stated that social media can also play an important role in enterprise risk management. Comments over Facebook and Twitter can police makers and officials to become more aware and sensitive about their activities and decisions that can affect the livelihood of people.  The major issues faced by the media in present days are such as:

  • Interference of government in the course of action is one of the major issues faced by the media. Jansson et al. (2016) stated that, often the operation of media is controlled by government.
  • There is a bad reputation has been developed about the media that they often twit news and provide paid news. It can question the reliability and authenticity of media.

Tricker and Tricker (2015) stated that, employees often reluctant to report about their suspicion about misconduct. It is due to the fact that they fear retaliation from those who are engaged in the misconduct. Hence, it can prevent companies from discovering employee related frauds. Ghoshray (2013) argued that employer surveillance is a very long term process to indentify wrongdoing of employees. Hence, whistle blowing is required. Hence, it is required for a company to encourage its employees to encourage them for whistle blowing. In order to do that, a company must develop an effective whistle blower protection policy.

From this case study, it has been found that the whistle blowing policy did not provide enough protection for Bloe and other whistle blowers. When Bloe and the two other whistle blowers went to the Gotham Investor to publish about the fraud at TAB, they have to face immense pressure from the top management, which resolved to recognize the source of leaks to the media. With their covers blown and yet no action is taken by ASIC, the “Three Musketeers” had become defenseless.

In order to influence employees more about whistle blowing about the wrong doing, they need to develop an appropriate protection plan and rewarding system for the whistle blowers.  

From the case study, it has been found that TAB had an excellent reputation amongst its customers but TAFP severely damaged it. Behaviour of different employees of the company had been discussed below in table:

Donald (Don) Vanvo

Secretly manipulate the risk profiles of their customers into adopting hyper-aggressive and risky investment portfolios to draw high commissions.

Steve McDuck and Adam Gillespie

Part of this fraudulent like Don

Joe Bloe and two other colleagues (Three musketeers)

Whistle blowing

Top management

Partiality, aggressive behaviour and ignorance towards wrong doing

 The major challenges faced by TAB to promote ethical behaviour, compliance and good governance are such as:

The top management of the company TAFP is engaged in partiality and discrimination.  The top management provided protection to Don, as he was the top planner of the company. This type of partial behaviour forced planners to non-compliance and unethical behaviour.  

TAFP management had nurtured an aggressive culture with the help of ambitious sales-driven program and excessively short-term remuneration incentive scheme. The behaviour of the top management is unforgiving “meet your sales targets, or surrender your rice bowl.” It provides a little place of honesty for the employees.

Despite of all the attempts made by the whistleblowers to warn the management about the fraudulent and non-compliance, the top management has no taken any action to improve it.

The management team had developed a “divide and conquer” compensation policy for the clients. It allowed TAFP to incur minimal expenses in the compensation.

 

Reference list

Bodie, Z. 2013. Investments. McGraw-Hill.

Ghoshray, S. 2013. Employer surveillance versus employee privacy: The new reality of social media and workplace privacy. N. Ky. L. Rev., 40, 593.

Harford, J., Mansi, S. A., and Maxwell, W. F. 2012. Corporate governance and firm cash holdings in the US. In Corporate Governance (pp. 107-138). Springer Berlin Heidelberg.

Jansson, A., Stafsudd, A., Andersson, A., and Petersson, L. 2016. The role of mass media in corporate governance: A study of how Swedish corporations are affected by the character of publicity. In SASE 28th annual conference, Berkely.

Lee, L. F., Hutton, A. P., and Shu, S. 2015. The role of social media in the capital market: evidence from consumer product recalls. Journal of Accounting Research, 53(2), 367-404.

Liu, B., and McConnell, J. J. 2013. The role of the media in corporate governance: Do the media influence managers' capital allocation decisions?. Journal of Financial Economics, 110(1), 1-17.

Miller, G. S., and Skinner, D. J. 2015. The evolving disclosure landscape: How changes in technology, the media, and capital markets are affecting disclosure. Journal of Accounting Research, 53(2), 221-239.

Tricker, R. B., and Tricker, R. I. 2015. Corporate governance: Principles, policies, and practices. Oxford University Press, USA.

OR

Cite This Work

To export a reference to this article please select a referencing stye below:

My Assignment Help. (2018). Employer Surveillance Versus Employee Privacy. Retrieved from https://myassignmenthelp.com/free-samples/employer-surveillance-versus-employee-privacy.

"Employer Surveillance Versus Employee Privacy." My Assignment Help, 2018, https://myassignmenthelp.com/free-samples/employer-surveillance-versus-employee-privacy.

My Assignment Help (2018) Employer Surveillance Versus Employee Privacy [Online]. Available from: https://myassignmenthelp.com/free-samples/employer-surveillance-versus-employee-privacy
[Accessed 04 April 2020].

My Assignment Help. 'Employer Surveillance Versus Employee Privacy' (My Assignment Help, 2018) <https://myassignmenthelp.com/free-samples/employer-surveillance-versus-employee-privacy> accessed 04 April 2020.

My Assignment Help. Employer Surveillance Versus Employee Privacy [Internet]. My Assignment Help. 2018 [cited 04 April 2020]. Available from: https://myassignmenthelp.com/free-samples/employer-surveillance-versus-employee-privacy.


MyAssignmenthelp.com is the leading essay writing service in Australia. We are committed to resolving students' all academic problems and help them acquire higher grades. We provide comprehensive essay paper help to students, who struggle to put up a good quality essay. With 3000+ talented essay writers, we cover 100+ subjects while providing essay writing service to students in Australia. Contact us to premier quality academic assistance at an affordable price.

Latest Management Samples

BUS1007 Organisational Behaviour

Download : 0 | Pages : 8
  • Course Code: BUS1007
  • University: Australian Institute Of Higher Education
  • Country: Australia

Answer: The behaviour of human beings are full of intricacies and it is highly difficult to understand or apprehend it. There are several factors that join together for determining some peculiar kinds of patterns for the employees’ behaviour in all organisation. There are certain employees who are coarse, some are amiable, some are stone hearted and many are soft hearted. Also, there are some who are empathetic or apathetic and on the ot...

Read More arrow

COMM1410 Letter For Social Media For The Virtual World

Download : 0 | Pages : 2

Answer: Claire Smithfield Lots of Stuff Park 32/A Kitchner, 45660  Subject: Regarding Use Of Social Media  Dear Claire, I hope this letter finds you in good health. We received your notification regarding the use of social media and how you feel concerned for our health. I must say, on behalf of all the employees, that this was a very thoughtful gesture on your part. This makes us feel especially wanted in the company. Of the p...

Read More arrow

MGT03 International And Local Market For Seistrand Systems

Download : 0 | Pages : 5

Answer: HBR Case Study The main conflicting issue in this given case study is based on hiring an international talent, Anne Prevost. Being particularly a German-based organisation Typware, the organisation needs to recruit a new talent which can be beneficial for the organisational current competitive market. The international and local market is different from each other. For specific, the candidate wants to settle down in Europe. The h...

Read More arrow

LAW6CON Construction Law For Negligence, Contract And Guarantees

Download : 0 | Pages : 12

Answer: Part 1 Construction Law has evolved as an area of law dealing with disputes that arises in relation to the construction of buildings and other similar fields. It has been developed by bundling the laws relating to commercial law, contract law, planning law, tort law and employment law. This branch of law includes issues like negligence, contract, guarantees, claims and other similar areas of laws relating to construction (Manderson, J...

Read More arrow

GSB019 Analysis Of Change Triggers For Regional Pharmaceutical Manufacturer

Download : 0 | Pages : 9
  • Course Code: GSB019
  • University: Australian Institute Of Management
  • Country: Australia

Answer: Introduction  This report has aimed to examine a strategic change initiative in the given organization in the case study. In this given report, Algorithm Sal has been chosen as the organization, which is a regional distributor of pharmaceutical products in Middle East, Near East, east Europe and North Africa. The organization had acquired Merck& Co. in an attempt to become the manufacture of products by establishing manufacturi...

Read More arrow
Next
watch

Save Time & improve Grades

Just share your requirements and get customized solutions on time.

question
We will use e-mail only for:

arrow Communication regarding your orders

arrow To send you invoices, and other billing info

arrow To provide you with information of offers and other benefits

1,242,865

Orders

4.9/5

Overall Rating

5,067

Experts

Our Amazing Features

delivery

On Time Delivery

Our writers make sure that all orders are submitted, prior to the deadline.

work

Plagiarism Free Work

Using reliable plagiarism detection software, Turnitin.com.We only provide customized 100 percent original papers.

time

24 X 7 Live Help

Feel free to contact our assignment writing services any time via phone, email or live chat.

subject

Services For All Subjects

Our writers can provide you professional writing assistance on any subject at any level.

price

Best Price Guarantee

Our best price guarantee ensures that the features we offer cannot be matched by any of the competitors.

Our Experts

Assignment writing guide
student rating student rating student rating student rating student rating 5/5

230 Order Completed

97% Response Time

Liya Han

Master Of Science in Geotechnical Engineering (MSc Geotec)

Singapore, Singapore

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

203 Order Completed

97% Response Time

Richard Alpert

PhD in Psychology

London, United Kingdom

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 5/5

2632 Order Completed

100% Response Time

Albert Ambrosio

MSc in Nursing

London, United Kingdom

Hire Me
Assignment writing guide
student rating student rating student rating student rating student rating 4/5

2594 Order Completed

95% Response Time

Michael Johnson

Masters of MSc in Economics

Washington, United States

Hire Me

FREE Tools

plagiarism

Plagiarism Checker

Get all your documents checked for plagiarism or duplicacy with us.

essay

Essay Typer

Get different kinds of essays typed in minutes with clicks.

edit

GPA Calculator

Calculate your semester grades and cumulative GPa with our GPA Calculator.

referencing

Chemical Equation Balancer

Balance any chemical equation in minutes just by entering the formula.

calculator

Word Counter & Page Calculator

Calculate the number of words and number of pages of all your academic documents.

Refer Just 5 Friends to Earn More than $2000

Check your estimated earning as per your ability

1

1

1

Your Approx Earning

Live Review

Our Mission Client Satisfaction

Thank you so much for your efforts the solution was perfect and submitted on time.

flag

User Id: 371975 - 03 Apr 2020

Australia

student rating student rating student rating student rating student rating

every thing good and Very classy treatment. thank you very much i hope do my thesis with this web

flag

User Id: 396340 - 03 Apr 2020

Australia

student rating student rating student rating student rating student rating

The work was well present, details and met all expectations. This is a prove that I will always use this platform and recommend this site to friends at schools and family. Keep using great people to keep having users. Just after receiving this assign...

flag

User Id: 203000 - 03 Apr 2020

Australia

student rating student rating student rating student rating student rating

good transcript that it make feel good because i don\'t need to worry about no ideas to write this transcript

flag

User Id: 329158 - 03 Apr 2020

Australia

student rating student rating student rating student rating student rating
callback request mobile
Have any Query?