Corporate governance Essay Example | Topics and Well Written Essays - 2250 words

Corporate governance - Essay Example management styles with those of the U.S. Many of the largest British multinationals, such as GlaxoSmithKline and BP, have merged with or acquired large U.S. firms, and almost all leading U.K. companies derive substantial proportions of their revenues from the U.S. The differences in management style and culture have become far more nuance. Large British multinationals probably remain more international and cosmopolitan in their outlooks than their U.S. counterparts, slower to act and less inclined to adopt the latest management fads, and less ruthless in dealing with failure and under-performance. However, there is vast industry and firm differences. Under UK GAAP fair values are assigned to identifiable intangible assets only if the identifiable intangibles are capable of being disposed of or settled separately, without disposing of a business of the entity. Under US GAAP, identifiable assets are separately valued and amortised over their useful lives. The separately identifiable intangible assets included in the US GAAP balance sheet are principally comprised of brand rights, which are being amortised over periods between 25 to 30 years. US GAAP requires the Group to record all derivatives on the balance sheet at fair value. The Group has decided not to satisfy the SFAS No. 133 "Accounting for Derivative Instruments and Hedging Activities" (SFAS 133) requirements to achieve hedge accounting for its derivatives, where permitted, and accordingly movements in the fair value of derivatives are recorded in the profit and loss account. (Annual Report and Accounting, 2005) The new era of globalise businesses and increased awareness in the stakeholders have given importance to the notion of Corporate Governance. The execution of the notion will have important consequences for investors, companies, and, critically, for the stock and other financial markets of UK. With the increasing globalisation when every country can be seen as an opportunity for the investors the lack of understanding of effective corporate governance can adversely effect the investment intentions of investors. Nowadays corporate governance is seen as the key of attracting investors. Capital flow seems directed towards the companies, which practice fair and transparent ways of governing their organisations. With the changing global business scenario the need of understanding and effective practise of fair and technologically advance corporate governance has also increased. In my speech I will first explain the notion of Corporate Governance. ICAEW (2002) has explained corporate governance in a very effective and comprehensive manner as " Corporate governance is commonly referred to as a system by which organisations are directed and controlled. It is the process by which company objectives are established, achieved and monitored. Corporate governance is concerned with the relationships and responsibilities between the board, management, shareholders and other relevant stakeholders within a legal and regulatory framework."

Operations objectives at the Penang Mutiara Case Study

Operations objectives at the Penang Mutiara - Case Study Example Operations performance ensures customer satisfaction hence it is easy to retain them. Operations performance in the hotel industry means ensuring proper service delivery to customers. The management has a task of ensuring the staff deals with the customer in a desired way, for example, the staff must have the ability to portray courtesy to the customers (Slack et al. 40). Since the customers may have various questions concerning services or other matters, the staff should possess relevant skills for answering questions from the customer. They should have sufficient hospitality and the hotel management tips to enable them respond suitably to customer’s needs. The hotel management has a responsibility of ensuring best condition of hotel facilities. This means that buildings, furniture and all equipment that support service delivery to customers are in superb condition. Performing best choice of hardware for the hotel is vital because it creates a good impression of the hotel. Ma nagers should choose best designs for the hotel to enhance durability. This is important because the hotel looks fabulous for a long period. Customer satisfaction commences with the right impression followed by the services (Slack et al. 40). The management is responsible for its functions to ensure competitiveness in the hotel industry. Managers perform planning, coordination and controlling of various issues in business. This is important because the hotel looks fabulous for  the long period.