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Tuesday, December 24, 2019
Christian Teachings on Warfare Essay - 764 Words
Christian Teachings on Warfare For a war to be right in Christian teachings or for a war not to be wrong in Christian teachings it must follow the just war theory. This would be the first and main subject I would include in the booklet. The just war theory states that for a war to be called a just war it must Ãâà · Be declared by a proper authority. Ãâà · There must be a just cause for the war Ãâà · The war must be of good intention (i.e. to do good or to over come an overpowering evil) Ãâà · The war must be a last resort (i.e. every non-violent way of solving the war must have been tried first) Ãâà · The good the war will do must outweigh the harm Ãâà · The war must be possible toâ⬠¦show more contentâ⬠¦There are many references in the bible that have a certain, war related meaning, or at least you can relate them to war. The reference thou shalt not kill (exodus 20) says that obviously you should not kill. There is rarely a war where anyone is not killed, so again you could say that wars in which people are killed are wrong. According to this, it would be near impossible for nuclear war to be right, as you would find it near impossible to use nuclear weapons without killing anyone! It is known that the blast from the Hiroshima bomb spread radiation for 36miles around, and today, the power of one bomb has increased 750,000 fold from that of the Hiroshima bomb. The results from the use of such a lethal weapon are horrifying. The loss of life would be unimaginable. Thou shalt not kill, wellà ¢Ã¢â ¬Ã ¦ my point is obvious. Do unto others as you would want done to you. Another bible reference (from the book of Matthew in the New Testament) maybe not directly referring to war but it can be related to a war situation. Do not do anything that you would not want doing to yourself, take for example killing. Would you want to be killedà ¢Ã¢â ¬Ã ¦ the chances are that you dont, so dont kill if you dont want to be killed. This could be slightly turned around, as in a war situation you may kill people, but those people you may kill would most likely have killedShow MoreRelatedMedieval Warfare And The Middle Ages1142 Words à |à 5 PagesDuring the Middle Ages, particularly 1200 ââ¬â 1500 CE, medieval warfare was prominent within society. Medieval warfare is the warfare of the Middle Ages. In Europe, technological, cultural, and social developments had forced a dramatic transformation in the character of warfare from antiquity, changing military tactics and the role of cavalry and artillery. Warfare w as an essential part of the Medieval European society, as they would often go on raids and siege castles to diminish their enemiesââ¬â¢ forcesRead MoreThe Encounter Between War And Religion932 Words à |à 4 Pagesunderstanding of warfare will help to understand the relationship between earthly orders. For one to understand the relationship and impact that waging war has on individuals and their faith, one must first understand and accept each individual faith and the belief that they have. Christianity and War Thomas Aquinas (1224-1274) had once been a great medieval Christian theologian. He had a deep knowledge and understanding with theological and ethical questions regarding warfare among the Christian statesRead MoreMankind Is Dramatically Transformed By Warfare, Which Evokes1502 Words à |à 7 Pages Mankind is dramatically transformed by warfare, which evokes the virtues presumed fit during a time of peace. 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During the evolving of Muhammadââ¬â¢s teachings, he married elevenRead MoreThe Forgotten Legacy Of The Power Of Possession 981 Words à |à 4 Pagesââ¬Ëpower of possessionââ¬â¢ appears evident; however, during the time of Christ the belief in the destructive forces of this occurrence emerges as a severe issue for the general public. Eusebius, a Roman historian, exegete and Christian polemicist, became the Bishop of various Christian centers in Caesarea near the year 314 A.D.; notably, an exceptional Biblical scholar of his time. Eusebius tells of the events of ââ¬Å"Jesus ridding human life from demons of every kind, so that there were some of them now kneelingRead MoreThe Lewis s Life Story1618 Words à |à 7 PagesC.S Lewisââ¬â¢s Life Story An author, scholar and Christian apologist born on November 29, 1898 in Belfast Ireland and 50 years post his death in 1963, still remains one of the worlds most influential writers of our time ââ¬â this is the one and only Clive Stanley Lewis (Jack). In this essay I will share a brief overview of Lewisââ¬â¢s life, his key teachings and share my opinion on whether they are relevant and impacting today. Born into a Christian family, Lewis and his brother Warren both inheritedRead MoreChristianity, Islam and Buddhism728 Words à |à 3 Pagesdestroyed by the constant warfare from the north. Civil war inside Roman Empire cause Rome to decline and less could not protect itself. They were lots of invasions and warfare throughout the Early Middle Ages. At the time Constantinople was the greatest city in the Christianity and Islamic world. Constantine legalizes Christianity which people seek salvation, and withdrawal from the comfort of the world. Islam was influenced by Christianity and began with the teachings of Mohammad. Islam was spreadingRead MoreColonial Americ Salem Witch Trials1247 Words à |à 5 Pagesthe Puritans were conflicted with a true spiritual warfare, and a time where they lost the ways of the one they worshiped. A time we now call, the Salem Witch Trials. To have a clear understanding of what happened in Salem, one must first understand the Puritans. This group of people greatly disagreed with the ways of the Church of England and desired to ââ¬Å"purifyâ⬠their religion. Their main desire was to be more doctrinally sound in their teaching, and to have more religious freedom. It is fromRead MoreCrusades and the Church Essay549 Words à |à 3 Pageslanguage, is a much later invention. What we call crusades, contemporaries knew as pilgrimages or even simply journeys. Aside from a tiny elite, people were illiterate and even if they could read, there was no access to a Bible or any scriptural teaching. It was an age of superstition and magic, where visions, signs and wonders were claimed by many. The masses only source of knowledge about God was whatever the often corrupt and greedy clergy decided to teach. The early crusades broke new groundsRead MoreThe Rise Of Islam By Matthew Gordon954 Words à |à 4 Pagestribes who ma de profit by trading and most importantly ââ¬Å"raidingâ⬠. These raids were often described as small-scale warfare and were instrumented by tribal leaders in order to increase the wealth and power of the tribe (Gordon 5). This was the society in which Islam came to power. Warfare and raiding were essential in order to be successful in pre-Islamic Arabia. The integration of warfare into the Islamic religion created a similarity among Muslims, those who follow Islam, and non-Islamic Arabian people
Monday, December 16, 2019
Marketing and Buying Decision Free Essays
Principles of Marketing Principles of Marketing 2012 Name: Robert Barnes Student Number: 21154021 Institution: University of West London Word count: 1455 2012 Name: Robert Barnes Student Number: 21154021 Institution: University of West London Word count: 1455 Table of Contents 1. 0 Introduction2 2. 0 Question 1 3 2. We will write a custom essay sample on Marketing and Buying Decision or any similar topic only for you Order Now 1 Personality 3 2. 2 Motivation6 2. 3 Conflict6 3. 0 Question 2 8 Bibliography9 1. 0 Introduction The case study I have chosen to cover is ââ¬Å"Breezing out for a night on the tilesâ⬠. It discusses the rise of the premium pre-mixed drinks industry between 1995-2000, in particular the Bacardi Breezer brand. It looks at the marketing activity which has taken place and the brand association the marketers aimed to achieve. In this report I will be exploring the buying process involved when purchasing an alcoholic beverage, the influencing factors when making a decision and the role that marketing plays, in these decisions. The definition of marketing is ââ¬Å"The management process which identifies anticipates and supplies customer requirements efficiently and profitably. â⬠Adrian Palmer 2004 Personality noun (plural personalities) The coon of characteristics or qualities that form an individualââ¬â¢s distinctive character: ââ¬â Oxford Dictionary 2012 ENTJ Frank, decisive, assume leadership readily. Quickly see illogical and inefficient procedures and policies, develop and implement comprehensive systems to solve organisational problems. Enjoy long-term planning and goal setting. Usually well informed, well read, enjoy expanding their knowledge and passing it on to others. Forceful in presenting their ideas. ââ¬â Introduction to Type, Sixth Edition by Isabel Briggs-Myers 1998 2. 0 Question 1 Q. Give an overview of how the buying decision-making process might work for purchasing an alcoholic drink in a pub or club. How would this differ when purchasing alcohol in a supermarket or off licence? A. The Theory To answer this question we first need to look at the theories in marketing associated to the buying process, influences and behaviours. Diagram 2. 0 is the structure of the buying process based on the ââ¬Å"Cognitive Paradigmâ⬠theory (Pickton and Broderick 2001) which focuses on the individuals thought process, during a buying decision. It assumes that the buying decision is approached as a problem solving activity and that the consumer is being rational throughout the process. It is widely used as the default theory by marketers and sales professionals when structuring campaigns. It does not however accurately describe the process that occurs during extreme impulse or irrational purchases, which are both, almost intangible processes. For the purpose of this exercise, we will assume that the responsible purchase of alcohol is approached, both rationally and thoughtfully. Diagram 2. 0 ââ¬â The Buying Process. Source: Marketing Communications, by John Egan. 2007) Step 1 of the process is the ââ¬Å"Problem Recognitionâ⬠. This is the identification of a need, such as ââ¬Å"I am hungry, therefore I need to eatâ⬠. It can however be very complex and the consumer may require education or informing before recognising a problem exists, such as a dentist telling you, you need a filling, even though you hadnâ⠬â¢t felt any pain in that tooth. Marketers can exploit this step by feeding information to consumers for goods and services, they hadnââ¬â¢t realised they needed. Step 2 of the process is the ââ¬Å"Information Searchâ⬠. This is when an individual has identified a need but may need to research to find the right solution. For example, if a student identifies a need for a computer, but has a limited budget, he or she might research information to identify the best option for the budget they have. This step can skipped if the consumer has enough knowledge, regarding the possible solutions. Step 3 of the process is ââ¬Å"Evaluationâ⬠. This is when more than one option is available to solve the identified need, and the consumer wants to experience these before purchasing. An example would be someone test driving multiple cars before purchasing one. Effectively they will all satisfy the same need, but the consumer wants to know what the experience is, before making the decision. This step can skipped if the consumer has previous experience or is happy with a certain product or service beforehand. Step 4 of the process is ââ¬Å"Decisionâ⬠. This is simply the final choose for a solution to the identified need, after weighing up all options. Again, a consumer can move directly to this step from ââ¬Å"Problem Recognitionâ⬠if enough prior knowledge exists. Step 5 of the process is ââ¬Å"Purchaseâ⬠. This is when the decision is executed and the goods or services are acquired. Step 6 of the process is ââ¬Å"Post-Purchase Evaluationâ⬠. This is when you access you satisfaction with your product or service after you have acquired it. If a great experience is had, it will lead to a higher likelihood that you will purchase that product or service again. Applying the theory Table 2. 0 is an application of the above theory, for an individual going through the buying process at both a club and supermarket. Buying Process Step| Nightclub or Pub| Supermarket| Problem Recognition| * A want to let loose. * A need for confidence. * A desire to fit in or stand-out. An aspiration to impress. | * Alcohol for cooking. * Thoughts of a night in. * A desire to relax and unwind. * Drinks for guests and friends. * Cheap drinks before going out. | Information Search| * Advertisement around the club. * Bottles behind the bar. * Drink cocktail menus. * What others are drinking. * Peer and/or social pressure. | * The label on the bottle. * Prices and special offers. * Staff knowledge. | Evaluation| * Tasting a friends drink. * Design of the bottle. * Recognition of a brand. | * Description on label. * Design and quality of bottle. Alcohol percentage. * Brand recognition. | Decision| * Information processed and decision made. | * Information processed and decision made. | Purchase| * Majority of exchanges in cash. | * Majority of exchanges by credit card. | Post-Purchase Evaluation| * Did that get me drunk? * Did I like the taste? * Do I want another one? * Did it give me a hangover? | * Did I like the taste? * Was it good value? * Will I buy it again? * Did it get me to the desired level of drunkenness? | Table 2. 0 ââ¬â The Buying Process of Alcohol in Different Environments. What this application of theory shows, is that there are different factors in play when buying alcohol in a club or pub compared to a supermarket, but the process remains the same. These factors are different mostly due to the environment, information availability, the individualââ¬â¢s intent and marketing strategies. If selling a drink in a club or pub it is more important for your drink to be seen as ââ¬Å"coolâ⬠socially and price is less of a factor whereas if selling in a supermarket, your drink needs to be competitively priced yet still demonstrate a level of quality. 3. 0 Question 2 Q. Detail the individual and group influences that are likely to affect someoneââ¬â¢s choice of drink brand? A. The Theory Diagram 3. 0 demonstrates the individual and group influencing factors when making a buying decision. Diagram 2. 1 ââ¬â Factors affecting buying decisions. (Source: Marketing Communications, by John Egan. 2007) Our strongest influences when making a buying decision are our internal beliefs and values. These include Attitude, Perception, Learning, Memory and Motivation. The next in terms of influencing power are Primary Groups. Primary groups are made up of close friends, family and people who you respect. You are affected by these groups by the opinions and values they hold. The next group in terms of influencing power is the Secondary Group. This group is made up of people you know but not closely, or people who you may aspire to be like. Lastly there are influences depending on your Culture, Race or Religion, that will affect your decision when buying something. There are also External factors that include things that are beyond your control, such as Fashion, Law, Time ect. So how do these factors affect someone when buying an alcoholic drink? Well if I was out with my family, I would be unlikely to order shots, as they would not approve, whereas if I was out with close friends, then this would be the opposite. The secondary group has the same effect, but is less powerful in its influence. 4. 0 Question 3 Q. Explain the roles of the various marketing activities described in this case in influencing consumer behaviour. A. In 2000 Bacardi spent ? 14m on a campaign to promote their brand ââ¬Å"Bacardi Breezerâ⬠. The reason to do this is to influence people decisions when making a buying decision. Bacardiââ¬â¢s first large campaign was in 1999 when they spent ? 5. 6m. The campaign was headlined with the slogan ââ¬Å"thereââ¬â¢s Latin spirit in everyoneâ⬠aimed at the 18-24 year old market. This campaign was created to give the brand an exotic, cool to be seen drinking appeal and was aimed at the demographic that would most likely be drinking in an environment where these factors we important in their buying decision. This campaign established Bacardi Breezer as one of the major players in the alco-pop industry. Bibliography * John Martin, 2010. Organizational Behaviour Management. 4th Revised edition Edition. South Western Educational Publishing. * John Martin, 2004. Organizational Behaviour And Management. Edition. Thomson Learning. * Laurie J. Mullins, 2006. Essentials of Management and Organisational Behaviour. Edition. FT Press. * Isabel Briggs Myers, 1998. Introduction to Type: A Guide to Understanding Your Results on the Myers-Briggs Type Indicator. 6th Edition. Center for Applications of. * Adrian Furnham, 2008. Personality and In telligence at Work: Exploring and Explaining Individual Differences at Work. 1 Edition. Routledge. * Stephen P. Robins, 2010. Organizational Behaviour. 1 Edition. Pearson Books. * John Ivancevich, 2010. Organizational Behavior and Management. 9 Edition. McGraw-Hill/Irwin How to cite Marketing and Buying Decision, Papers
Sunday, December 8, 2019
Advocate Mureriwa on a Call for Good Corporate Governance in Zimbabwe. free essay sample
MURERIWA ON A CALL FOR GOOD CORPORATE GOVERNANCE IN ZIMBABWE. ADV ISIAH MURERIWA LLB (UP) LLM (UP) (Advocate of the High Court of South Africa) The legal realty is that in Zimbabwe, as in many other economies, those who own companies (shareholders) are different from those who are involved in the day-to-day operations of the companies (managers and directors). This position thus put the managers and directors in a fiduciary relationship vis-a vis the actual owners of companies and providers of capital. The basic duty that managers and directors assume, having accepted this fiduciary relationship implies that managers and directors shall carry out their duties of management and direction of companies in the best interest of their principals with the ultra-most good faith. Unfortunately the past decade, which many would want to label, the dark error in the economic history of Zimbabwe, bore witness to widespread disregard and violations of this fiduciary relationship by several managers and directors. This is very clear from the spate of corporate frauds and scandals that rocked our media during that period. In this paper, based on a presentation I gave at the Mt Carmel Instituteââ¬â¢s Workshop on Business Ethics and Corporate Governance, in Harare, 11 ââ¬â 13th of August 2011, I seek to evoke a debate on the role that the law can or does play in the protection of the actual owners of companies against their at-times misguided and often capricious agencies. In a paper presented to the Mandel Training Centreââ¬â¢s Annual Symposium on the 31 of January 2011, Senior Partner of Scanlen and Holderness, Sternford Moyo started by stating as follows: ââ¬Å"The law defines the environment in which business is conducted. It ensures that players are regulated by pre-determined rules of conduct. It reduces the potential for capricious conduct, defines the limits of power exercisable by those in positions of power and control and furthermore defines the manner in which power and control may be exercised to ensure that decisions by those in authority are just, fair and predictable and I would add, sustainable. He went on to state that; . . . the law ensures the protection of all role players and imposes obligations which ensure a workable co-existence. And concluded by stating that; . . . . business is thus inconceivable without the law. We would all agree with the conclusion reached by Sternford Moyo in the current business environment in Zimbabwe given our recent history dating to the past decade as well as the challenges that the recent decade presented to our business community. We would also agree that what Zimbabwe need at this juncture is a culture of good corporate governance if we are to regain any confidence from the international investing community. Corporate governance is generally used broadly to refer to the rules, processes and or laws by which corporates (businesses) are regulated and controlled. Sir Adrian Cadbury (1992) identified corporate governance as a system by which companies are directed and controlled and where boards of directors are held responsible. In a very business-like definition, LL Tshumba of the Reserve Bank of Zimbabwe quoting from Shleifer, Andrie and Vishny Robert (1997) ââ¬Å"A Survey of Corporate Governanceâ⬠Journal of Finance, Vol L11 No 2 pages 737 stated that; corporate governance, is therefore rightly often defined as the ways in which suppliers of finance assure themselves that they will receive a fair return on their investmentsâ⬠It is internationally accepted that good corporate governance is key to the integrity, and is central to the health of any economy as it creates business ethos and thereby assures investors (supplier of finance) that they will get a fair return on their i nvestment. Rachel Kyte, the Vice President, Business Advisory Services of the International Finance Corporation wrote: Good corporate governance practices instil in companies the essential vision, processes and structures to make decisions that ensure longer-term sustainability. More than ever we need companies that can be profitable as well as achieving environmental, social and economic value forsocietyâ⬠Statistics seem to show that good corporate governance has several advantages of which the most notable are; 1. It makes for cheaper debt and access to both local and global sources of capital. 2. It helps operations and improves performance since it ensures quality decision-making, encourages effective succession planning for senior management and enhances the long-term prosperity of companies. 3. It ensures sustainability and increases the likelihood of the enterprise to satisfy the legitimate claims of all stakeholders and fulfil its environmental and social responsibilities and thus the long ââ¬â term sustainable growth of client companies. In Zimbabwe, statutory law, through a multitude of statutes, governs corporate activity or at least our statutes provide for the governance and control of corporate activity. In addition to statutory law there are recent and applaudable efforts to draft a Nation Code of Good Corporate Governance by among others, the Institute of Directors Zimbabwe (IODZ) which borrows from the principles set out in the Cadbury Report of the United Kingdom and the Mervyn Kingââ¬â¢s Report of South Africa. It is hoped that such efforts will improve the expertise, status and professionalism of managers and directors in Zimbabwe in the management of Corporate Affairs in Zimbabwe. With the aid of education and training programmes facilitated by the Zimbabwe Leadership Forum (ZIMLEF) and the Standards Association of Zimbabwe (SAZ) it is hoped that meaningful progress will be made in curbing and eradicating fraud, corruption and all forms of corporate decay that often leads to scandals and failures. The gospel of good corporate governance needs be spread not only in private corporations but far and wide to reach parliamentarians and parastatals in the running of their business so as to build a culture and not mere practice of good corporate governance. Support for such initiatives includes learning from comparable best practices like the practices of prominent institutions like the Anglo-American and Delta Corporation. Training is also extended by the Commonwealth Secretariat through its working relations with the Institute of Directors Zimbabwe. As is often stated corporate governance is a tradition and traditions are often difficult to change, but with concerted efforts, one hopes that a meaningful turnaround is indeed possible towards a more responsible corporate citizenry. Our recent history bears testimony to the fact that poor corporate governance at any level is too costly for individual organisations and indeed the economy at large. This is so because an environment in which transparency, fairness, responsibility and accountability are alien will necessarily lead to rampant corrupt practices and hence high risk on investments, high cost of capital and lower returns, inversely leading to the neglect of even the basic corporate social responsibilities. Writing on the the Zimbabwean situation L L Tshumba of the Reserve Bank of Zimbabwe in his paper titled ââ¬Å"Corporate Governance Country Case Experience- Perspectives and Practices: Zimbabweâ⬠stated: ââ¬Å"corporate governance depends on the quality of economic, regulatory, fiscal, institutional and judicial structures, which in turn are influenced by a given countryââ¬â¢s political dispensationâ⬠He goes on to state that; ââ¬Å"there has been a renewed focus in recent times, on political structures as determinants of the degree of the financial sophistication of a given society. For very personal reasons centralised or autocratic political systems will tend to be intolerant of competition, transparency and accountability and are therefore bound to retard rather than encourage financial developmentâ⬠And concluded by stating that; ââ¬Å"There is therefore a need to develop an environment where stakeholders, be they shareholders, citizens or other interested parties are assured that the ââ¬Å"goings-onâ⬠are not detrimental to their own political and financial interestsâ⬠A member of the Institute of Chartered Accountants Zimbabwe at a seminar held in Kariba on the 24th of June 2011 stressed the point that Zimbabwe has to revise its commercial laws to enable a culture of good corporate governance in the country and in the process to prevent corporate scandals that currently dominates our media. In the same breath Sternford Moyo had mentioned in his presentation to the Mendel Training Centre Annual Symposium (supra) as follows: Our Companies Act is outdated. It does not cover issues one would expect to be covered by a modern companies statute. Inadequate provisions are dedicated to creditor protection. Shareholder protection is not adequate either. Often closely related to poor corporate governance is the problem of related party transactions. Pratip KAR in his presentation titled ââ¬Å"Fighting Abusive Related Party Transactions in Asia, A workshop on Implementationâ⬠at the Asian Round Table Conference on Corporate Governance held by the Global Corporate Governance Forum in New Delhi, India on the 25 and 26th of October 2010, referred to what he called ââ¬Å"Related Party Transactionsâ⬠. He defined such a transaction as: a business deal, single or series of financial contracts (dealings), or an arrangement between two parties who are joined by a special relationship prior to the transaction in question. â⬠In his article (supra) Pratip states that even though related party transactions are fraught of the possibility of abuse and conflicts of interest, they often make tremendous commercial sense and if co mpanies are blanketly prohibited from entering into such transaction, it might militate against the principle of maximizing the shareholder value. He states further and probably more relevant to this paper, that where peopleââ¬â¢s money is involved, it cannot be expected that the managers watch over it with the same anxious vigilance as they would watch over their ownâ⬠He however further admitted that such arrangements might allow controlling shareholders or executives of a company to benefit personally at the expense of non-controlling shareholders of the company which often leads to conflicts of interests between the private interests of the individual and his duties to the company which could impair the integrity, independence and the quality of their decisions in the management of the company. That such arrangements are at times quite desirable is without question. Pratip states that in the United States, at one point, all related party transactions had been banned, but such restriction was later seen as overly restrictive and the ban was uplifted. Memory Mafo, (an Associate Legal Practitioner at Scanlen and Holderness Legal Practitioners) in her article in the Scanlen and Holderness Magazine presented to delegates at the Lex Africa Annual General Meeting, held at Harare, Zimbabwe on the 25th of March 2011 states at page 28 that ; These situations (of related party transactions) require the issues of conflict of interest to be fluid rather than rigid. Most business transactions and legal relationships are complex and varied. A strict interpretation of conflict rules would effectively halt a considerable amount of business for both the legal profession and the corporate worldâ⬠Ms Mafo goes on to state however that: ââ¬Å"traditionally the best way to handle conflict of interest is by avoiding them entirelyâ⬠and concluded by stating that: The high standards of legal ethics should always be maintained and further developed alongside a fast growing corporate Africaâ⬠The Mervyn Kingââ¬â¢s report as quoted in an article titled ââ¬Å"An overview of Corporate Governance and Accountability in Southern Africaâ⬠[http://www. uneca. org/srdc/sa/publications/corporateGovernance-Accountability-SA. pdf] recommends that Boards of directors should observe the highest level of business and professional ethics and, in particular their independence should never be compromised. In the Guidance for Supervisory Board Members of Banks [http://ww. gcgf. org/ifcext/cgf/nsf/attachmentsbytitle/Ukraine_Eng_Guidance_Supervisory_Board_+member_of_+Banks/$FILE? Chairman? -Manual_+Final_Eng. pdf] a conflict of interest is said to exist among others when an office bearer or board member may improperly influence individual judgment when acting on behalf of (the bank). Office bearers and directors are thus cautioned to avoid actual, potential or perceived conflicts of interests. Situations identified as being fraught with the possibility of conflicts of interests includes a situation where a director has any major ownership interest in the business of any counter party or has a consulting or employment relationship with a counterparty to the enterprise or where any person owing a fiduciary duty to the enterprise advocates a transaction between the enterprise and the company, firm or other enterprise in which such person owns stock or serves as an office bearer or director. It needs be noted that the guidelines are not rules of law per se but do provide useful guidance in the crafting of a working code of conduct on corporate governance issues. Where there is potential conflict of interests the following guidelines are suggested; â⬠¢The member having an interest (the conflicted member) must disclose the nature and extent of his interest as required by section 186 (1) of the Companies Act. â⬠¢Such conflicted members shall not be included in the quorum for any resolution concerning the conflicted matter. Conflicted members should not participate or even be present during discussions on the conflicted matter and should volunteer to or may be asked to withdraw from meetings for the duration of any such discussions to facilitate frank and full consideration by the rest of the board on the conflicted matter. â⬠¢A conflicted member may not vote on any resolution concerning the conflicted matters â⬠¢A director having a continued material conflic t of interest or potential of conflict of interest should consider resigning. Given the spate of corporate frauds one wonders if there is a need for legislation designed to manage and regulate corporate governance and the business ethics terrain in Zimbabwe. Research has shown the impact of bad corporate governance on national economies. Examples include the corporate failure of the US energy giant Enron in 2001 (due to widespread accounting frauds and insider trading) and in Japan where the alleged securities fraud in 2006 instigated a stock sell-off resulting in the temporary closure of the Tokyo Stock Exchange. It is to be noted that these scandals were followed by enactments such as the Sarbanes Oxley Act of 2001 in the US and in Japan a financial reporting law known informally as J-SOX, because it was based on the US Sarbanes Oxley Act. [http://allafrica. com/stories/20110524. html] Whether the way forward for Zimbabwe is a statutory enactment to deal with corporate governance issues or not is a subject still to be pursued. It is however clear that the aftermath of the world recession saw the implementation of stricter and tougher regulatory frameworks in the financial services sector of the USA and other European countries. A similar approach seems to be taking root in Zimbabwe. At the Insurance 2010 Conference held at Nyanga, Zimbabwe, Edward Siwela, the Executive Director of the Institute of Directors Zimbabwe, hailed the crafting of the proposed National Code on Corporate Governance and the Future of Corporate Governance in Zimbabwe launched on the 28th of October 2009 in Harare and attended by among others, the Guru on Corporate Governance, Professor Mervyn King. He mentioned that the Code had advantages over mandatory approaches primarily because of ease of dissemination, flexibility of corporate practice and transparency as well as the emphasis on the delivery of shareholder value over the long term. He added that the adoption of good corporate governance reduces the risk of corporate crises and scandals which characterized the Zimbabwe economy in the past decade. Yilmaz Arguden stated that, in the ultimate, good corporate governance is a ulture and climate of; â⬠¢Consistency â⬠¢Responsibility â⬠¢Accountability â⬠¢Fairness â⬠¢Transparency â⬠¢Effectiveness That is deployed throughout the organisation. In an informal discussion I once mentioned that ââ¬Å"fortunately this corporate entity has neither soul nor blood, they can suck all they wantâ⬠. ââ¬Å"If management is about running the business, governance is about seeing that itââ¬â¢s run properlyâ⬠[R I Ticker, 1984] [ http://www. spescom. com/content . asp? subID=1]
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