Describe a unique, interesting, and/or unusual customer need an actual organization is satisfying (and how!). Don’t forget to include a link or source!
Describe a creative way an actual organization is reducing its costs.
Principle 1 of ASX Corporate Governance Principles and Recommendations describes the importance of a clearly set out roles and responsibilities of the board and of the management. Recommendation 1.1 of Principle 1 suggests that “a listed entity should disclose: (a) the respective roles and responsibilities of its board and management; and (b) those matters expressly reserved to the board and those delegated to management.” (ASX, 2014). Though there is a brief commentary about the roles and responsibilities of the board and the management, there is nothing in specific. Clearly defined roles help in expectation setting and avoiding misunderstanding. However, stringent roles deter flexibility and may add to unwillingness to perform cross-divisional roles. List Reasons Explicitly In conclusion, the failure of Masters Home Improvement was a result of poor strategic thinking, a consequence of corporate governance failure. Poor strategic thinking which led to haphazard expansion and acquisitions can be attributed Woolworths’ epic failure. It can be deducted from the argument presented above that better application of Principle 7, Recommendation 7.4 by ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations statement. This, coupled with choice wrong locations, selling the wrong stuff and flawed workplace culture was the reason behind Masters downfall (Stewart, 2016). All of these mentioned causes can be traced back to lack of good corporate governance. Self-Correct There are several limitations that were met while writing this argument. There is no specific data regarding who was accountable for the projects and what was the actual responsibility of individual directors. In addition to that there is limited academic research done on this topic which makes it difficult to refer to secondary data. Corporate governance is a very subjective issue. Therefore, pointing out flaws in corporate governance is as subjective as the issue itself. Since there are multiple causes of the issue in question, this makes it difficult to narrow and limit the scope of research.>GET ANSWER