Expert Paper on Corporate Governance Reform in Australia

This assignment assesses Learning Objectives 1- 6 CLO1: Integrate and apply contemporary Ethics & Governance issues in a business context CLO2: Critically analyse and apply ethics to contemporary business practice CLO3: Critically analyse key perspectives on corporate social responsibility and their application CLO4: Evaluate different corporate ownership structures and their key governance features CLO5: Critically analyse and apply corporate governance perspectives to contemporary business practice CLO6: Effectively communicate ethics and governance concepts and arguments in a logical manner Scenario: A parliamentary joint select committee is inquiring into reforming (corporate) governance in Australia. As an expert in corporate governance you have been invited to prepare a background paper that addresses the following questions. Consider the guidance offered in both the Assessment Task 3 Guidance Video below and CG Report Template in preparing your assignment. Questions: How can organisations and specifically organisational boards be made more accountable (Schillemans and Bovens 2019)? [Assesses Course Learning Objectives (CLOs) CLO1, CLO2, CLO4, CLO5, CLO6 - see Table above for full description of the CLOs] From accountability (Schillemans and Bovens 2019) and stakeholder (Freeman 2008; Micheal et al 1997) perspectives what are the strengths and weaknesses of the extant governance models? [Assesses  Drawing on course literature and concepts (for example Psaros 2008; Mitchell et al 1997; Boyd et al 2011; Morck, and Yeung, 2003; Young et al 2008) critically address these questions by interrogating literature on the following alternative governance models and structures (Government Business Enterprises (GBEs)/ State Owned Enterprises, cooperatives, unitary boards, dual tier boards/ codetermination/ Work Councils). [Assesses CLO1, CLOW2, CLO4, CLO5, CLO6] Your answer must discuss principles that might apply to all models and draw on the following lite literature: stakeholder value (Freeman 2008), Government Business Enterprises (GBEsa) (Bovens 2019; Henderson & Clarke 2016), co-operatives (Erassati et al 2017); Cook 1995), and codetermination on boards & works councils/ dual boards  Toward a theory of stakeholder identification of salience: Defining the principle of who and what really counts, Academy of Management Review, 22(4), 853-886. Morck, R and Yeung, B 2003. ‘ Agency problems in large family business groups’, Entrpreneurship: Theory and Practice, vol.27, no.3, pp. 367-82. Psaros, J. (2008). Australian corporate governance: a review and analysis of key issues, Frenchs Forest, N.S.W.: Pearson Education, Ch.1 Practical and theoretical foundations of corporate governance pp. 1-22. Schillemans, T., & Bovems, M. (2019). Governance, accountability and the role of public sector boards. Policy & Politics, 47(1), 187-206. Young, MN, Peng, MW, Ahlstrom, D; Bruton, GD, Jiang, Y (2008)’ Corporate Governance in Emerging Economies: A Review of the Principal - Principal Perspective’, Journal of Management Studies, 2008, Vol.45(1), PP.196-220 (CG Report Template) Assignment 3: Corporate Governance Report BUSM 3115 Ethcis & Governance TITLE PAGE [date] Student name: Student number: Tutors name: [insert name] Word count: [font in your test should be 12 point, 1.5 Line Spacing] [For guidance on what should go in each section watch and re-watch the guidance video on Canvas and take notes.] 1.0 INTRODUCTION - 200 words approx [font in your test should be 12 point, 1.5 Line Spacing] Outline the purpose and paper structure (tell the reader what you are going to argue, and how you are going to do it. ? What are your major arguments? ? How will your board paper be structured? This is stuff you should be getting good at and hopefully have learned some important writing skills from E&G. 2.0 BODY OF CG REPORT -1350 words approx 2.1 Second Level Themed Heading - Subheadings for your main body should be themed and relate to the content of the writing - perhaps titled around major arguments. This Analysis section should contain about 1350 words: Table 1: Background to the Assignment ****** IMPORTANT BACKGROUND: Do remember that this report has been sought because Australia has been through an ongoing wave of corporate scandal: Banking Royal Commission, CBA money laundering and in 2020 alone we have had QBE, AMP, Rio Tinto, and another money laundering resulting in a $1.3 Billion fine for Westpac. There is a recognition that all of these scandals in various different ways show how agency theory, and the policy responses (Practices) derived from the theory (boards, directors, subcommittees, managerial incentives/ remuneration, institutional investors etc) are not making Australian companies, directors or executives more accountable or responsible. ****** ? 5-6 paragraphs - The major focus of this section is comparing and contrasting the various ownership models (Shareholder owned, Government owned, Membership owned) and the extended representation model of co-determination. ? This should be done using Accountability (Schillemans and Bovens 2019) & Stakeholder (Freeman 2008; Mitchell et al 1997) perspectives to access the strengths and weakness of these models. If you feel confident you might want to include another perspective that might help your argument (Some of the authors point in others general principles of governance). There is also the scope to analyse using other E&G course literature, theory, concepts and further research. ? We strongly suggest you develop a TABLE to identify strengths and weakness of each model using Accountability (Schillemans and Bovens 2019) & Stakeholder (Freeman 2008; Mitchell et al 1997) ? Draw on Lit pointers Governance Business Enterprises (GBEs) (Bovens 2019; Henderson & Clarke 2016), co-operative (Erassti el al 2017; Cook 1996) and codetermination on boards and works councils/ dual boards (Jackson & Muellenborn 2012; Frege 2005, 2002; Hertig 2006). ? Remember to describe key concepts - accountability, stockholder perspectives agency, stewardship theory etc, that you are going to use to argue. Summarizing succinctly whilst capturing this main arguments. ? You can use TABLES and DIAGRAMS in your text and APPENDICES and these do not count to the word count, but they need explanations by you in your body text to tell the reader what they show/ highlight/ illustrate etc ? In-text citations and reference list MUST follow RMIT Harvard Style guide. Table 2: Assignment 3 Questions ***** just a sample of the table ***** How can organisations and specifically organisations boards be made more accountable (Schillemans and Bovens 2019)? From Accountability (Schillemans and Bovens 2019) & Stakeholder perspectives what are the strengths and weaknesses of the extend governance models? Drawing on course literature and concepts  critically address these questions by interrogating literature on the following alternative governance models and structures (Government Business Enterprises (GBEs)/ State Owned Enterprises (SOEs), cooperatives, unitary boards, dual tier boards/ codetermination/ Works Councils). Your answer must discuss principles that might apply to all models and draw on the following literature co-operatives (Erassti et al 2017; Cook 1995_, and codetermination on boards & works councils/ dual boards (Jackson & Muellerborn 2012; Frege 2005, 2002; Hertig 2006).  just a sample of the table ***** 3.0 CONCLUSION - 200 words approx ? Recap of your question answers and major arguments supporting them ? Tell the reader what you have already told them - Should link to and be consistent with the introduction. ** You should be getting good at this and hopefully have learned some important skills from E&G 4.0 RECOMMENDATIONS - 250 words approx Your recommendations for a reform agenda to make organisations and organisational boards more accountable - this should logically flow from your analysis. This section should contain 4-5 dot point recommendations that are informed by specifically the theories and concepts we’ ve recommended for this assignment as well as covered in the course to make Australian Corporation more accountable and responsible. For example, these recommendations can be informed by Accountability, Stakeholder perspectives, or any Assignment Task 1 or course readings Husted, Victor & Cullen, Jones and Ryan, Psaros, Morch & Young Exit Voice and Loyalty, Agency, Stewardship etc. REFERENCES ? In-text citations and reference list MUST follow RMIT Harvard Style guide ? Include everything referenced in your assignment ? List them alphabetically by the surnames of the first listed author ? Use initials for given names - but do not include initials in text. ? Consistent formatting in both text and in your reference list ? Additional articles used to build your arguments should also be used - i.e. Hartman and Desjardin 1998, Freeman; Crane and Matten, Trevin & Nelson; Carroll 2003 etc ? Do not ignore the literature we have specifically pointed you to: Husted 1993, Jones & Ryan 1998, Victor & Cullen 1998 and Monahan & Quinn 2008; Michell et al 1997, Gioia 1993. (**Please note that Complete Question was given in video MP4 format that I am not able to upload)