Corporate Governance and Social Responsibly

Corporate Governance and Social Responsibly Corporate governance and corporate social responsibilities are competitive advantage strategies that focus on the social, economical, and political improvement of society/community where organizations operate (Moon, 2001). This paper discusses how corporate governance and corporate social responsibilities affect economic, social, and financial elements of organizations and their stakeholders.Advertising We will write a custom report sample on Corporate Governance and Social Responsibly specifically for you for only $16.05 $11/page Learn More Corporate Governance and Stakeholder Corporate governance and corporate social responsibilities are central to the success and effectiveness of organizations; when making decisions, leaders should consider the social, economic, financial, and political effect of the decisions; timely, effective, and responsive decision should ensure continued improvement of the above considerations. When conducting business, organization s affects their habitats environment positively or/and negatively; modern strategic management puts emphasis on improving business-environment relationship where emphasis is on corporate governance and corporate social responsibilities. Stakeholders There are numerous stakeholders that are affected by corporate governance, they include the target markets, the community of which the organization operate, government, employees, tax authorities, potential investors, environments, and shareholders. The holy trinity of good corporate governance is the notion of shareholders right to question board/ management decisions, transparency and boards full accountability for their actions. This is ethical behaviour in its true sense (Rasmussen, 2005). Strengths of corporate governance Transparency and accountability force management and the board to be disciplined and ethical in everything they do. Therefore, ethical boards and management are high in effective corporate governance. There is a di rect link and positive correlation between a companys competitiveness and financial performance on one hand and the effectiveness of its corporate governance and its ethical behaviour on the other hand. Organisations that adhere to corporate social responsibilities and corporate governance build customer confidence that facilitate business and boosts its competitiveness (Machan, 2007).Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Reform of Corporate Governance In contemporary business environments, there is need for management to keep changing their corporate governance model to fit the demands of the market. When companies have embarked on CSRs, they have no option than considering ethics and good governance in their business, when these two have been attained, then future disasters are likely to be prevented. In line with CSRs operations, companies make efforts geared toward social enabling efforts like developing infrastructures, providing primary health care, developing education systems among others in developing countries. In wakes of disasters, the company will be ready to assist. Corporate governance and CSR projects should be aimed at improving the operating environment. Internally, it will also aim at making operations safer and enhancing disaster recovery. These efforts will not only benefit community and environment but also enhance the organization image, thus increasing business. Corporate social responsibility manager establish frame works to enhance compliance with internationally recognised CSR standards like Triple Bottom Line (TBL), People, Planet Profit (3Ps strategy); if companies can be genuine and embark on CSR supported by ethical business and good governance, then the world can stand free of disasters, resulting from companies operations (Jones, Parker and Bos, 2005). In contemporary business environment, there is need for organ izations to enact policies that focus on corporate governance and corporate social responsibilities. Corporate governance and corporate social responsibilities involve the manner in which companies are managed to create and distribute increasing value to its stakeholders; the policies include the structure of the board (audit, nomination and compensation committees), management/board relationships, carrying out value creating activities, shareholders rights, record keeping, information disclosures and management compensation and its disclosure. References Jones, C., Parker, M. and Bos, R.,2005. For Business Ethics : A Critical Text. London: RoutledgeAdvertising We will write a custom report sample on Corporate Governance and Social Responsibly specifically for you for only $16.05 $11/page Learn More Machan, T. R. ,2007. The Morality of Business: A Profession for Human Wealthcare. Boston: Springer. Moon, C.,2001 Business Ethics. Boston: Springer. Rasmussen, L.,2005. Ethics expertise: history, contemporary perspectives, and applications. Boston: Springer.

Understanding the Ballot Initiative Process

Understanding the Ballot Initiative Process The ballot initiative, a form of direct democracy, is the process through which citizens exercise the power to place measures otherwise considered by state legislatures or local governments on statewide and local ballots for a public vote. Successful ballot initiatives can create, change or repeal state and local laws, or amend state constitutions and local charters. Ballot initiatives can also be used simply to force state or local legislative bodies to consider the subject of the initiative. As of 2016, the ballot initiative process was used at the state level in 24 states and the District of Columbia and is commonly used in county and city government. The first documented approval for the use of the ballot initiative process by a state legislature appeared in the first constitution of Georgia, ratified in 1777.   The State of Oregon recorded the first use of the modern ballot initiative process in 1902. A major feature of the American Progressive Era from the 1890s to 1920s, the use of ballot initiatives quickly spread to several other states. The first attempt to gain the approval of the ballot initiative at the federal government level took place in 1907 when House Joint Resolution 44 was introduced by Rep. Elmer Fulton of Oklahoma. The resolution never came to a vote in the full House of Representatives, having failed to gain committee approval. Two similar resolutions introduced in 1977 were also unsuccessful.According to the Initiative Referendum Institutes Ballotwatch, a total of 2,314 ballot initiatives appeared on state ballots between 1904 and 2009, of which 942 (41%) were approved. The ballot initiative process is also commonly used at the county and city levels of government. There is no ballot initiative process at the national level. Adoption of a nationwide federal ballot initiative process would require an amendment to the U.S. Constitution. Direct and Indirect Ballot Initiatives Ballot initiatives may be either direct or indirect. In a direct ballot initiative, the proposed measure is placed directly on the ballot after being submitted by a certified petition. Under the less common indirect initiative, the proposed measure is placed on a ballot for a  popular vote only if it has first been rejected by the state legislature. Laws specifying the number and qualifications of names required to place an initiative on a ballot vary from state-to-state. Difference Between Ballot Initiatives and Referendums The term ballot initiative should not be confused with referendum, which is a measure referred to voters by a state legislature proposing that specific legislation may be approved or rejected by the legislature. Referendums may be either binding or non-binding referendums. In a binding referendum, the state legislature is forced by law to abide by the vote of the people. In a non-binding referendum, it is not. The terms referendum, proposition and ballot initiative are often used interchangeably. Examples of Ballot Initiatives Some notable examples of ballot initiatives voted on in  the November 2010 midterm elections included: Washington State Initiative 1098 would impose a first-ever state income tax, initially on individuals with incomes above $200,000 but later possibly extend to other groups at the legislatures discretion. This action would remove Washington from the list of nine states without a state income tax.Californias Proposition 23 would suspend enforcement of the sweeping California Global Warming Act and all laws related to it until the states unemployment rate eases and becomes stable.A ballot initiative in Massachusetts would  slash the states sales tax from 6.25 percent to 3 percent, and repeal in most cases the state sales tax on alcoholic beverages.Californias Proposition 19 would legalize the possession, cultivation, and transportation of marijuana for the personal use of persons 21 years of age or older.As a sign of opposition to the new federal health care reform law, voters in Arizona, Colorado, and Oklahoma considered ballot initiatives affirming individuals choices on purchasing insurance or participating in government plans.