Messages
Proposals
Get Urgent Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework Writing
100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support
Introduction
of setting a direction and establish a control over the Ooredoo.
For setting a direction
and establish a control over the companies, specified structures and controls
are established which is called as the corporate governance. It also
encompasses the workplace relationships i.e between the management and the
employees. The relationship among the Board of Directors, controlling
shareholders, minority shareholders and other stakeholders is also discussed in
the corporate governance. The basic elements of the best corporate governance
includes an entity’s openness to public in the disclosure of information, a
high transparency and accountability. In order to make a company operate in an
efficient manner and to avoid mismanagement a good corporate governance
practice is necessary. It also improves access to capital , mitigate risks and
safeguard the interest of stakeholders. Companies who follow good corporate
governance practices, hold themselves accountable to the stakeholders and try
to be transparent to them. If companies want to build their reputation in front
of shareholders and stakeholders and also in the market, they have to be good
at corporate governance practices. In this essay we are taking a deep look into
the corporate governance practices that are followed by the telecommunication
company called Ooredoo. Ooredoo is based in Doha, Qatar. The services provided
by Ooredoo include mobile, wireless, wire line and content services. It
operates in domestic as well as international markets. 5G services in Qatar were first launched
commercially by this company and it is included in one of the world’s largest telecommunication companies. All
around the world it has over 115 million customers worldwide. Other than Qatar,
it also operates in 10 other countries. Ooredoo’s shares are listed on the
Qatar Stock Exchange and also on the Abu Dhabi Securities Exchange.
In strengthening the
integrity and efficiency of a company corporate governance is a key factor. If
a company is lacking in the corporate governance, its potential would be weak
and it can also cause the company long term damage. The core principles of
corporate governance applicable in the Ooredoo firm are listed below;
Ooredoo firm follows the
principle of fairness in its operations; it means it gives every shareholder
the fair treatment. In terms of dividend and other distributions all the
shareholders get equal benefits based on their shareholding. This fairness is
not only followed in the treatment of shareholders but also the stakeholders,
and that includes employees, communities and public officials.
The obligation and responsibility
for presenting an explanation or reason for the actions of company or conduct
is called being accountable. The telecommunication company Ooredoo holds itself
accountable for its actions, it presents an understandable assessment to the
board of its position and prospects. It holds itself accountable for the amount
of risk it would take and also takes care of the control and risk management
systems.
The boards of directors
of this company are entitled to act on behalf of the company and therefore they
accept the full responsibility for the powers that are given to them and intend
to use it for the company’s benefits.
A core principle of good
governance is that the stakeholders should be informed of what activities the
company is undertaking, the future plans of the company and also the strategies
it is using for the business.
The right governance
practices have a long term impact on the corporate performance of the company. The
best corporate governance practices that the board of directors of the Ooredoo
company is following are discussed below;
the
board of directors of the Ooredoo company has a strong directorial board, they
are knowledgeable and have the expertise relevant to their field. They have
diverse backgrounds and skills, and also allocate sufficient time to their
duties.
The
Ooredoo company, has defined the roles and responsibilities of each officer
very clearly, and the lines of accountability among the Board, Chair, CEO and
Executive Officers and management is also defined.
3. Emphasizing integrity and ethical
dealing
The
directors of the company declare any conflict of interest if they have, and
they also refrain from voting on the matters in which they have any direct or
indirect interest. A general culture of integrity is followed on the business
dealings and respect and compliance to laws is also practiced.
One
of the best corporate governance practice that is followed in the company is to
set the director’s salary that would attract the candidates that are suitable
for the job. Ooredoo has also set the measurable targets of performance.
5.
Engaging
in Effective Risk Management
Ooredoo
follows an effective system of risk management. They regularly assess and
identify the risk that they are facing, and that includes operational,
reputational, financial, industry related and financial risks.
Role
of leadership in promoting sustainability of
setting a direction and establish a control over the Ooredoo.
if sustainability is
related to the insurance of future generations on progress and evolutions then
the relationship between leadership and sustainability is highly significant.
There can be no development without leadership in the social, human or cultural
dimensions. Now sustainability refers to the whole world not just a single
organization and sustainability is not just about securing future generations
but it can also help company’s bottom line. A leader promotes sustainability by
managing companies with environment, society, and long-term sustainable
development goals. When a leader promotes sustainability he not only takes into
account stakeholders but also shareholders. Leaders need to promote
sustainability because companies want leaders who can strike a balance between
both, the shot-term as well as long-term goals. Companies also need leaders who
can form a new set of ideals that are focused on the improvement of social and
environmental issues in the world.
Sustainability
can end poverty of
setting a direction and establish a control over the Ooredoo.
Leaders need to promote
sustainability because sustainable leadership can end poverty. The citizens
globally, hold the corporations (private or public) accountable for promoting
sustainability. With a sustainable leadership the changes that are necessary
for the creation of a better world where equality is practiced becomes more
likely to occur.
There was a time when the
corporations did not fulfill any of their environmental duties and would just
get away with it easily but now the global society gives a lot of pressure to
corporations to fulfill their duties that they have towards the society. When
the CEOs and companies give a priority status to the sustainable leadership the
society and the environment both gets benefits. Usually the success of
companies is measured in terms of their financial gains, but when the ESG was
also measured along with the financial returns according to the researches the
companies who have a higher ESG also had a better performance.
Internal and external factors determining
sustainability
The six factors that help
in making determination of sustainability are given below. The Ooredoo Corporation
is working hard on all of these factors to contribute towards the society.
The first is the
optimization in the use of resources that are available; it means to use the
resources that are at hand in the best and most efficient way. This will result
in cutting the energy costs, and will contribute to saving the environment. The
best way to save is to save now so that the resources can be left for the use
of tomorrow and also the costs would be reduced in this way
Another technique that is
used in the Ooredoo telecommunication company is that only those supplies and
resources are used that are needed to finish the production of a product. It
sounds simple but it is not that easy, when production is in bulk then the
excess material goes in use. Before the concept of sustainability was
introduced, there was not much debate about how much material is getting used
but now it is taken to notice by corporations and only the material that is
needed is used.
The thing that is focused
by Ooredoo is the use of material that is environment friendly. Only the
material that would not affect the environment in any adverse way should be
used any other material would be avoided. This determines whether a business is
ensuring sustainability.
Another thing that
Ooredoo is doing is the recycling of material. That is a great way to ensure
the protection of environment. It is one of the best ways by which you can make
a positive impact on the world. It is essential to both the natural environment
and also for humans. The amount of rubbish that is being created in the world
today is too much. Recycling is especially essential for the cities. Recycling
ensures a sustainable environment.
You have to have a
vision, is the very essence of leadership. A leader should have a clearly
articulated vision. There cannot be anything more demoralizing if a leader does
not have a clear vision. A business leader who is good at his job, is good at
articulating the vision, and also passionately owns the vision, and then with a
relentless vision completes it. The workplace is permeated by the vision of the
work place, and is manifested in the actions, values, beliefs, and also the
goals of the leaders of your organization. Every employee, is affected and
attracted by this vision, who is engaged in living this set of actions,
beliefs, values and goals.
Internal and external
financial reporting, have several differences and every party that has interest
must have awareness of it. The internal financial reporting is a practice in
business that involves the compilation of financial information frequently for
uses within the organization. Sensitive information is contained in these
documents, such as the indicators of the business, the financial performance of
the company, and the indicators of the performance as well. They are designed
specifically for the use of the individuals in the organization in the Ooredoo
organization. There is a sound system of internal reporting in the organization
overall, and steps are taken to ensure the secrecy of this information.
External reporting
involves the preparation of financial information for the distribution of
parties that are outside the organization. There is no sensitive information
about the Oordeoo company in its external reports. The information on the
external report is used by, potential investors, lenders, and also the
creditors of the company. They use it to evaluate the financial condition and
performance of the company.
The Ooredoo company has a
good leadership and the company is doing good overall. The systems of external
and internal reporting are also efficiently managed.
In the above essay we saw
how the Ooredoo company is managing its company and whether there is a sound
system of corporate governance in the company. The company recognizes its
shareholders and make sure that all of the shareholders have a say in the
policies of the company, and everyone is getting equal treatment. The rules and
responsibilities that are assigned to the directors are also clear and it is
made sure that all the individuals in the company have the same vision about
the future of the company. The principles of good corporate governance that are
followed in the organization include fairness, accountability, responsibility
and transparency as well. By the policy of fairness leads to the fair treatment
with every shareholder, the policy of accountability ensures that every individual
is held accountable for their activities in the business, through the policy of
being responsible, each individual is held responsible for their duties. Along
with corporate governance, sustainability is also promoted among the leaders
and appropriate steps are taken to ensure that is given due importance.
Sustainability is the need of the world and Ooredoo has recognized this fact
and has taken measures as to how its leaders can contribute in promoting a
sustainable future.
Reference
of setting a direction
and establish a control over the Ooredoo.
heathfield, s. m. (2019, November 30). Leadership
Vision. Retrieved from thebalancecareers.com:
hebalancecareers.com/leadership-vision-1918616
Hibbard, S. (2009, Feb
18). Six Key Factors for Achieving Sustainable Manufacturing. Retrieved
from foundrymag.com:
https://www.foundrymag.com/opinion/article/21924600/six-key-factors-for-achieving-sustainable-manufacturing
Jun Dong, D. L. (2019).
Identification of Key Influencing Factors of sustainability. sustainability
.
Slimane, M. (2012).
Role and relationship between leadership and sustainable. Procedia - Social
and Behavioral Sciences , 92 – 99 .
Tsoi, P. (2017, July 11). The Importance of Corporate Governance. Retrieved from linkedin.com: inkedin.com/pulse/importance-corporate-governance-paul-tsoi
Discuss your homework for free! Start chat
