ACC03043 Corporate

Governancess
Assessment Task 2
Due Date: Sunday 5 August 2018
Length: 2,000 words total (+/- 10%). Reference
list and cover sheet details are not included in this word-limit total.
Weighting: 25% of total unit marks
Assessment Criteria:
 Demonstration of knowledge of the issues and evidence of
wide reading to support your analysis
 Demonstration of your ability to apply the knowledge to identify
keys issues leading to your recommendations
 Evidence of sound reasoning and the exercise of professional
judgement to support your recommendations
 Development and statement of concise recommendations for
presentation to the AICD
 Overall structure and professional presentation of the report to
the AICD
 High quality written communication of concepts and terms in
ordinary English as not all readers of the report can be
assumed to be specialists competent in corporate governance
 As a separate legal person, a corporation has two basic
objectives: To survive and to thrive. Shareholder value is not
the objective of the corporation; it is an outcome of the
corporation’s activities. While shareholders entrust their stakes
in a corporation to the board of directors, shareholders are just
one audience among others that the board may consider when
making decisions on behalf of the corporation.
These audiences, typically called stakeholders, may also include
other financial stakeholders, such as bondholders, and
nonfinancial stakeholders, such as employees, customers,
suppliers, and NGOs representing various concerns of civil
society. In the face of limited resources, no matter how large the
corporation, directors must make choices regarding the
significance of the corporation’s many audiences.’
Source: Robert G Eccles and Tim Youmans (2015) ‘Why Boards
Must Look Beyond Shareholders’, MIT Sloan Management Review
http://sloanreview.mit.edu/article/why-boards-must-look-beyond-
shareholders/
Required
Assume you have been employed as a corporate governance
consultant by the Australian Institute of Company Directors
(AICD). The AICD is concerned that many company directors hold
the opinion that the company’s board of directors has a
responsibility to place the interests of shareholders above all
other stakeholder interests.
Your assignment is to prepare a report to be submitted to the
AICD evaluating the evidence that the responsibility of a company
director is to place shareholder interests above those of other
stakeholders. Specifically, the AICD has requested that your
report contain evidence, examples and recommendations for
company directors that will guide them when making board
decisions so they are responsive to diverse stakeholder
audiences. The AICD has advised you that they intend to make
your report a public document and it will be uploaded to the
website so it can be read by both corporate governance
specialists and non-specialists.
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