...Good governance has been a key concept for democratic development in many countries around the world during the past few decades. Thailand is one of those which have embraced the idea. The notion of good governance was first given importance and included in the Thai national agenda in the 1990’s. At its inception, not many people, particularly those at the grassroot level, understood what it meant. There were attempts to explain this concept to the public and even attempts by community leaders and scholars to translate into Thai the term “good governance” – dhama-bhibal – with the hope that it would make it easier to understand. The need to interpret the term in its various aspects remains, however. The explanations of good governance can be varied. One of these, which is widely accepted, focuses on the capability of the state to perform its key functions in response to the needs of its citizens, and to be accountable for what it does. Emphasis has therefore been placed on a people-centred ideology -- needs of the people, public interest, transparency, accountability and responsibility of the policy-makers. All these have also become central to establishing sustainable development. Based on the concept of transparency, one significant development that took place in the late 1990’s in Thailand was the promulgation of an Information Act. This Act, which stipulates the openness to the public of information in the possession of state agencies, clearly underpins the universally...
Words: 1204 - Pages: 5
...world was shocked by a public boardroom debacle at HSBC. Incumbent Chairman, Stephen Green, had announced his pre-mature departure from HSBC ahead of schedule, putting HSBC’s succession plan into the spotlight. An unforeseen and public power struggle ensued, with speculation as to whether incumbent CEO Michael Geoghegan or one of several other possible candidates would get the top job. The chaotic succession process undermined HSBC’s stellar reputation for smooth management succession, and damaged the credibility of the board. The objective of this case is to allow a discussion of issues such as the importance of board and senior management succession planning and what it entails, the difference between a Chairman’s and CEO’s roles, attributes of a good Chairman, and whether former senior executives should become board chairmen. HSBC: A Model of Smooth Succession HSBC has a long history of smooth board and senior management succession underpinned by clear succession plans. Regular review of these plans by independent non-executive directors also serves to strengthen its robustness. This is the abridged version of a case prepared by Apple Goh, Chidambara Thanu, Mabel Koh, Lew Karxieu, Oh Kai Li and Song Huizhen under the supervision of Professor Mak Yuen Teen and Dr Vincent Chen Yu- Shen. The case was developed from published sources solely for class discussion and is not intended to serve as illustrations of effective or ineffective management or management. The interpretations...
Words: 1286 - Pages: 6
...THE ROLE OF THE MEDIA IN DEEPENING DEMOCRACY SHEILA S. CORONEL EXECUTIVE SUMMARY Since the 17th century, the role of the press as Fourth Estate and as a forum for public discussion and debate has been recognized. Today, despite the mass media’s propensity for sleaze, sensationalism and superficiality, the notion of the media as watchdog, as guardian of the public interest, and as a conduit between governors and the governed remains deeply ingrained. The reality, however, is that the media in new and restored democracy do not always live up to the ideal. They are hobbled by stringent laws, monopolistic ownership, and sometimes, the threat of brute force. State controls are not the only constraints. Serious reporting is difficult to sustain in competitive media markets that put a premium on the shallow and sensational. Moreover, the media are sometimes used as proxies in the battle between rival political groups, in the process sowing divisiveness rather than consensus, hate speech instead of sober debate, and suspicion rather than social trust. In these cases, the media contribute to public cynicism and democratic decay. Still, in many fledgling democracies, the media have been able to assert their role in buttressing and deepening democracy. Investigative reporting, which in some cases has led to the ouster of presidents and the fall of corrupt governments, has made the media an effective and credible watchdog and boosted its credibility among the public. Investigative reporting...
Words: 8223 - Pages: 33
...Corporate Governance Blueprint 2011 Towards Excellence in Corporate Governance Suruhanjaya Sekuriti Malaysia 3 Persiaran Bukit Kiara Bukit Kiara 50490 Kuala Lumpur Malaysia Tel: 603-6204 8000 Fax: 603-6201 5078 www.sc.com.my Copyright © July 2011 Securities Commission Malaysia All rights reserved. No part of this publication may be reproduced, stored in or introduced into a retrieval system, or transmitted in any form or by any means (graphical, electronic, mechanical, photocopying, recording, taping or otherwise), without the prior written permission of the Securities Commission Malaysia. Perpustakaan Negara Malaysia Corporate governance blueprint 2011 : towards excellence in corporate governance Bibliography : p. 77 ISBN 978–983–9386–67–7 1. Corporate governance--Malaysia. 2. Industrial management. 1. Suruhanjaya Sekuriti Malaysia. 658.4009595 Cataloguing-in-Publication Data This book is printed using eco-friendly recyclable and bio-degradable paper CONTENTS FOREWORD BY MINISTER OF FINANCE II, MALAYSIA MESSAGE FROM CHAIRMAN OF THE SECURITIES COMMISSION MALAYSIA INTRODUCTION CHAPTER 1 v vii 1 5 SHAREHOLDER RIGHTS CHAPTER 2 13 ROLE OF INSTITUTIONAL INVESTORS CHAPTER 3 21 THE BOARD’S ROLE IN GOVERNANCE – – – – ROLES AND RESPONSIBILITIES INDEPENDENCE OF THE BOARD COMPOSITION OF THE BOARD COMMITMENT OF BOARD MEMBERS 43 CHAPTER 4 DISCLOSURE AND TRANSPARENCY CHAPTER 5 53 ROLE OF GATEKEEPERS AND INFLUENCERS CHAPTER 6 61 PUBLIC AND...
Words: 27564 - Pages: 111
...Watchdog Role of the News Media by Sheila Coronel Introduction In Corruption and the Watchdog Role of the News Media, Sheila Coronel presents the role of media as a watchdog to keep the government in check. Coronel also examines the actual situation of the “watchdogging” by the media including its vulnerabilities to certain factors such as globalization, deregulation, economic impact, culture and many more. She presents the scenario in a form of research in which she shares her arguments and analysis as a veteran investigative journalist. This paper will review Coronel’s research as well as her primary arguments including her policy recommendations, and will evaluate the quality of Coronel’s research, writing, and focus. Summary Coronel begins his paper by reviewing the general premise of media as a watchdog of the society in monitoring government and exposing its excesses. She presents evidences on the retraction of this role around the world thanks to “globalization, the fall of authoritarian and socialist regimes, and the deregulation of the media worldwide.” To ponder on the watchdog role of media, Coronel asks the following important questions: Is the press acting as watchdog always desirable? In countries where the media are hobbled by draconian state restrictions or driven largely by the imperatives of profit-obsessed markets, is such a role even possible? What enabling conditions make a watchdog press effective? What impact has media monitoring...
Words: 1196 - Pages: 5
...radio fosters good governance October 27, 2013 in Opinion While the technological advancement in this country is pointing to a new world order, where globalisation and simplification of life is happening fast, there remains a gap in our country which if harnessed and supported has the capacity to be the game changer. Sunday Opinion with Kudzai Kwangwari The cellphone came and with it text messages, WhatsApp facilities, as well as money-transfer mechanisms while the internet also brought with it major communication developments in Africa but more specifically in Zimbabwe. One area which remains unexploited and untapped is community broadcasting and we believe this is a critical sector. For many it may be just a communication issue, but it must be viewed from a development perspective because more than anything else that’s what it is. It is a development tool. Community radio has the capacity to positively affect the politics, social set up of a country, economy and even the culture of a people. In terms of politics of a country, community radio in this day and age where democracy has become the new political philosophy considered as ideal plays a very critical role in promoting debate and dialogue, which are critical components of a functioning democracy. Community radio promotes the enhancement of interaction between citizens and the state, which is a prerequisite for any functioning democracy again. This is particularly so, because it promotes good governance where citizens...
Words: 1096 - Pages: 5
...Title CORPORATE GOVERNANCE AND THE ROLE AND INTERNAL AUDIT WITHIN HIGHER EDUCATION IN UNITED ARAB EMIRATES (UAE) Why I am interested in this area I am working as Senior Internal Auditor in the Education Industry from last 4 years and for this reason, I consider it as a great opportunity to explore and research, that, any importance is available and provided in this aspect or not and what are the preventive and mitigating measures taken by the Institutions to overcome towards any shortfalls or problems. The term “Corporate Governance” is relatively new in this area and specially in the field of Education and it will not only be a great learning curve for me but will also help me understand the Industry practices, and for sure it will help towards my future development and getting more experience in this field. Introduction to the focus of study Similar to the counterpart of the industries, Educational institutes are facing increasing demand for accountability. Students for example requires a strong institutional commitment towards their future growth and quality teaching, agencies and donors requires assurance that institutions are contributing towards public good moreover they are also concern about the correct utilization of their funds/ donations i.e. are they being utilized according to their desires and requirements. For government and related agencies, they are concern with the implementation of regulations and other procedures. Alumni want an assurance...
Words: 2460 - Pages: 10
...the Dodd Frank Act Whistleblowing Measures Effective? Whistleblowing in the Financial Markets: Name: Professor: Course: Date: In the wake of the Global-Financial Crisis there have been various strategies employed to improve corporate governance, but the main question to ask will they work? The expansion of whistleblower bounties under s.992 of the Dodd-Frank Act 2010 (Dodd-Frank Act) has been one such measure. This measure has been identified as significantly controversial, because it is superseding the traditional internal reporting processes (Schuman & Keating, 2011). The Dodd-Frank Amendment Act that was introduced in 2011 was an attempt to mitigate the potential harm that offering bounties to whistleblowers may have; albeit it seems to be side-lined through consultation processes. Thus, the following research will explore if the bounty provisions are a necessary and effective tool to increase supervision within financial institutions. The concept of “Whistleblower” needs to be identified before moving on in this discussion. The concept relates to a company insider reporting to an appropriate body when there are actions that are breaching the law or acting unethically (Kohn, 2011). Thus, whistleblowing and corporate governance are intrinsically linked. The indications are that the use of monetary incentives is not the most effective model to enforce whistleblowing as an effective deterrent, which can be supported by the poor statistical reception under the Federal...
Words: 2617 - Pages: 11
...Topics: Role of Media in improving corporate governance. Environmental concerns and corporate governance CSR of any organization Prepared for: Mr.Sohail Tahir Prepared by: Altaf-Hussain (FA11-MBA-004/VHR) M.Sajjad (FA11-MBA-011/VHR) The Media Role in Corporate Governance Improvement What is media? Communication channels through which news, entertainment, education, data, or promotional messages are disseminated Types of Media Print Media Electronic Media Importance of media Media is the most powerful tool of communication. It helps promoting the right things on right time. It gives a real exposure to the mass audience about what is right or wrong. Even though media is linked with spreading fake news like a fire, but on the safe side, it helps a lot to inform us about the realities as well. "The world is moving towards progress in every walk of life. But when we look towards societies, it feels as if some thing is still missing. Money, power, lust, etc., is the wish of every human being to attain. But we can't deny this fact that we all are bounded with loads of social problems, which are hard nuts to crack. Social issues are matters which directly or indirectly affect many or all members of a society and are considered to be problems, controversies related to moral values, or both. Social issues include poverty, violence, corruption, bribery, suppression of human rights, discrimination, and crime, killing in the name of honor, etc. "Media has a constructive...
Words: 4648 - Pages: 19
...References 10 Journal 1 Civil society organizations and NGOs have had a negligible influence on the governance of peace and security Civil society is the set of diverse groups and social organizations that are strong enough to provide protection and autonomy to individuals from the hegemonic and authoritarian tendencies of states. (Human Security Centre, 2005) Major dimensions in peace building process can be identified as: * Political and Institutional: respecting and strengthening state reform, good governance and democratization * Military and Security: Protection, demobilization, disarmament, demilitarization. * Social: basic needs and amenities, attention to the most vulnerable groups. * Economic: re-establish a stable macro-economic framework, reactivate the supply, demand & the local markets, and promote structural reforms. * Environmental: ensure a sustainable management and access of the natural resources Roles of civil society and NGOs in global governance for peace and security are: * Collect, disseminate and analyze information * Provide input to agenda-setting and policy development processes; * Perform operational functions * Assess social conditions and monitor compliance with peace and security agreements * Advocate social justice The Civil society and NGOs are crippled and have less say in the governance of peace and security because of the following reasons (DAC, 1997): * The functioning of the...
Words: 1445 - Pages: 6
...Indian Ethos in Management SYLLABUS Class: - B.B.A. VI Semester Subject: - Indian Ethos in Management Unit-I Business Ethics: Introduction, Business Ethics and Management, Business Ethics and Moral Obligations; Corporate Social Responsibility; Corporate Governance; Report of the Kumar Mangalam Birla Committee on Corporate Governance; Role of Media in Ensuring Corporate Governance; Environmental Concerns and Corporations. Ethical Issues related with Advertisement and Marketing; Secular versus Spritual Values in Management, Work Ethics, Stress at Workplace Relevance of Values in Management; Gandhian Approach in Management and Trusteeship; Social Values and Political Environment Indian Ethos: Values and Ethics; Requisites for Ethics Globally A Holistic Management System; Management in Indian Perspective Unit-II Unit-III Unit-IV Unit-V 45, Anurag Nagar, Behind Press Complex, Indore (M.P.) Ph.: 4262100, www.rccmindore.com 1 B.B.A. VI Semester Subject: Indian Ethos in Management UNIT – 1 BUSINESS ETHICS Business ethics is nothing but the application of ethics in business. Business ethics is the application of general ethical ideas to business behavior. Ethical business behavior facilitates and promotes good to society, improves profitability, fosters business relations and employee productivity. The concept of business ethics has come to mean various things to various people, but generally it‘s coming to know what it right or wrong in the workplace and doing...
Words: 9495 - Pages: 38
...Executive Summary This report examines interests of each role in social members and evaluates power relations in society, which covers government, corporations and civil society. Research method is covered a literature review which is based on quality academic journal articles, texts and research institutes’ materials. The report clarifies each member’s interaction and its power residents. This power resident and relationship can be reformed through social agenda setting. There is possibility that power-balanced society in capitalism can be diminished through its change into neoliberalism agenda. This is examined through reviewing Japan’s development in last couple of decade. Contents Table 1.0 introduction..............................................................................................3 2.0 Role and power resident.........................................................................3 2.1 The role and power resident of Government.....................................................3 2.2 The role and power resident of Corporations....................................................4 2.3 The role and power resident of Citizens...........................................................5 3.0 An Interaction of Government, Corporations and Citizens…………6 4.0 Character of social context (capitalism, neoliberalism)…………....7 4.1 A power interaction in Capitalism...................................................................7...
Words: 4088 - Pages: 17
...The Problem of Global Governance To say that the issue of global governance presents a challenge would be a significant understatement. Faced with a multitude of issues such as social (and economic) freedom, equality and justice along with environmental sustainability as well as physical barriers, cultural differences, and wealth inequality, the issue of global governance encompasses a vast array of challenges that will not be easily overcome. In light of these considerations, it would be reasonable to conclude that the ideal of just and equitable global governance represents the greatest social, political and economic challenge humanity has ever faced and successfully overcoming this challenge would be the greatest collective triumph that mankind has ever known. But to achieve this, many questions must be answered, one of the most important being the question of accountability: to whom, and for what should the largest political-economic players (states, intergovernmental organizations (IGO), Civil Society Organizations (CSO) and Multinational Corporations (MNC)) be accountable, and how can they be held accountable? Accountability has the ability to enforce compliance and turn exploitation into equality, and without it, democratic global governance cannot succeed. To begin with, because the majority of modern, developed, first world countries operate under democratic rule (though to differing degrees), and the majority of the world’s multi-national institutions...
Words: 2826 - Pages: 12
...Abstract High-quality risk disclosure is good for markets, because it helps investors make more informed decisions. It is good for prudential supervisors, because it makes banks more accountable to both supervisors and investors. And it is good for financial stability, because it reduces the chance that unexpected events will disrupt the system. To be effective in promoting market discipline, disclosure must be complemented by strong incentives for counterparties to engage in monitoring. The public sector's role in promoting transparency arises from a number of market failures, including the externalities to be gained from common standards, the "free rider" problems that may lead to too little investment in producing and gathering financial information, and the tendency of markets to overreact to bad news when the information environment is clouded. Guided by these considerations, the Financial Stability Board and the Basel Committee on Banking Supervision have long supported improvements in transparency, through their work on accounting, disclosure templates and aggregate market data. At the same time, industry and investor representatives need to play a key role in developing disclosure standards. Accounting standards need to converge, standards for the discussion and analysis that accompany financial statements need to be established, and external auditors need to insist on higher-quality risk disclosures. Full speech Good morning, and welcome to Basel. We are meeting...
Words: 2400 - Pages: 10
...dependence and commitment on each other. The issue networks is the opposite of the Iron triangle theory. According to (Stillman 408), the Iron triangle is the interaction among the elected members of Congress, career bureaucrats and the interest groups. The iron triangle proposes that policies are made when the Congress passes favorable legislations; which are to be implemented by the bureaucrats and then supported by the special interest groups. In the Issue networks, the primary interest of the participants is either emotional or intellectual. The National School Lunch Program (NSLP) was initially slated to feed malnourished school children whistle supporting the farmers. However, in the 1990s, the program was transformed to an initiative to promoting sound nutrition among the youth. This transformation process is what is referred to as “reinvention” (Stillman 410). To implement this program, there has to be interplay between political and technocratic interests. During the reinvention, several health and consumer advocates came out to support the change while some were against. The operation of this policy is a complex one involving several interest groups, consumer advocacy groups and professional associations. The system starts with the legislations and regulations; ranging from the producers of the food, the delivery process to the schools’ administrators and to the food service personnel. The workers who prepare the food and serve the students are also part of the National School...
Words: 2165 - Pages: 9