Assessment Topic: Review of the strategic plan and governance charter within a corporation and its application to Project Governance within the project lifecycle. Background to the Assessment There...

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Bank of Queensland Corporate Governance and strategic charte
Bank of Queensland Corporate Governance and strategic charte
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Bank of Queensland Corporate Governance and strategic charte
Contents
Introduction ................................................................................................................................................... 3
Corporate Social Responsibility ................................................................................................................... 4
Triple bottom line ......................................................................................................................................... 5
Bank of Queensland Limited ........................................................................................................................ 6
Customers ................................................................................................................................................. 8
Financial Hardship assistance ................................................................................................................... 8
Environment .............................................................................................................................................. 9
Employees ................................................................................................................................................. 9
Shareholders .............................................................................................................................................. 9
Government and Regulators ..................................................................................................................... 9
Corporate Governance Committee Charter ................................................................................................. 10
Bank of Queensland Corporate Governance Statement of Principles ........................................................ 10
Principle 1: Lay solid foundations for management and oversight ......................................................... 10
Principle 2: Structure the Board to add value ......................................................................................... 10
Principle 3: Promote ethical and responsible decision-making .............................................................. 10
Principle 4: Safeguard interest in financial reporting ............................................................................. 10
Principle 5: Make timely and balanced disclosure .................................................................................. 10
Principle 6: Respect rights of shareholders ............................................................................................. 10
Principle 7: Recognize and Manage risk ................................................................................................. 10
Principle 8: Remuneration ...................................................................................................................... 10
Conclusion .................................................................................................................................................. 10
References ................................................................................................................................................... 12
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Bank of Queensland Corporate Governance and strategic charte
Introduction
Corporate governance is a way of governing the corporate. It contains the rules and regulations
that need to be followed by each and every corporate. It is a way of directing and managing the
corporates. It is conducted by concerned committee and board of directors for the benefit of
stakeholders. (Ca
oll, A.B. 1999)
The guidelines of how the company should be directed and controlled, so that the goals and
objectives will be fulfilled and the way how to provide benefits for the stakeholders and how to
increase the value of the company is provided by the corporate governance.
Corporate governance is basically the set of systems, processes and principles without which it is
impossible to govern the company. It is balancing of the societal and individual goals; and social
and economic goals. In this corporates interacts with the stakeholders so as to shape the
corporate performance. It deals with the relation between the manager and owners, and all the
managers should interact with each other in a healthy manner. In corporate, the tasks of
managers and owners are defined clearly so that individual performance of each can be
compared with the benchmarks set for individuals and no other person will be responsible for the
wrong deeds of others. Corporate governance deals with determining the ways so as to take the
strategic decisions which are very effective. Globalization and efficiency are the significant
factors in corporate governance. It adds the value to the stakeholders. (Ca
oll, A.B. 1999)
It ensures transparency means the interest of stakeholders are safeguarded. It also ensured
alanced and strong development of economy. The complete and ultimate responsibility of
corporate governance is of the Board of Directors. (Friedman, M. 1970.)
Corporate governance is based on the principal of fairness, transparency, integrity and
disclosure. The companies are supposed to comply with the laws given in the corporation act of
the relevant country and also with the SEBI guidelines. (Friedman, M. 1970.)
The benefits from corporate governance are:
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Bank of Queensland Corporate Governance and strategic charte
- It ensures the growth of economy and corporate success.
- It helps in maintaining the investors’ confidence with which it becomes easy for the
corporates to raise capital.
- It reduces the capital cost.
- With this the share price moves positively.
- It helps in formation and development of
and.
- It minimizes co
uption, wastages, management and risks.
- It boosts up the managers and owners for achieving the objectives that are in...