Essays on Management Communication Issues Assignment

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Generally, the paper "Management Communication Issues" is a perfect example of a management assignment. In Australia, directors are appointed officially, while others assume the role. The latter is called de facto directors. Regardless of how they gained power, they are both subjected to the same duties. These duties differ from one country to the next due to the variations of constitutional laws, however; there are some roles that are similar across most nations. In Australia, a director is expected to exercise the duty of care and diligence. He or she should act with care towards the company by making its welfare a top priority.

Moreover, a director has the duty of acting in good faith. He or she should avoid conflict of interest and when conflicts arise, the director is required to reveal them to the board, after which, the various ways of managing that conflict should be discussed. This fidelity to a company is known as fiduciary duty, it is the highest known form of honor of the law (AICD 2016). In the same light, a company director should not use his position improperly.

That is, the director is entrusted with the morality of not using his position to gain personal advantage or extend the benefits to another third party. The final duty is based on the restraining from improper use of information. Directors get access to sensitive company information during board meetings for the purpose of giving them a deeper organizational perspective which is intended to be instrumental in making more informed decisions. Due to these sensitive revelations, a company director has the duty of safeguarding this information and not using it for personal gain or to enable a third party to benefit from it. In line with the duties of a director, it is evident that they do not handle the day to day operations of a company.

They are only involved during board meetings and their overall purpose is to offer guidance and monitoring of the company (Shanmugan and Jun 2016). The advised guidance is implemented by those who are involved in the daily operations of a company. These daily activities ultimately determine the success or failure of a company and hence its financial position.

References

AICD 2016, Wgat are the duties of directors? Australian Institute of Company Directors. Available from: < http://www.companydirectors.com.au/membership/the-informed-director/what-are-the-general-duties-of-directors> [31 May 2016].

Company law club 2016, What rights does a shareholder have? Company Law Club. Available from: [31 May 2016].

Danekert, S 2016, ‘Class action filed against dairy giant Murray Goulburn’, The Sydney Morning Herald 16 May, n.p.

Featherstone, T 2014, Riding the new wave of activism. Australian Institute of Company Directors. Available from: [31 May 2016].

How to law 2016, The rights, powers and liabilities of shareholders. HowtoLaw. Available from: < http://www.howtolaw.co/the-rights-powers-and-liabilities-of-shareholders-392233 > [31 May 2016].

Mitchell, LE 2009, The legitimate rights of public shareholders. 66 Wash and Lee Review. Available from: <>. [31 May 2016].

Shanmugam, SM and Jun YK 2016. Company financial statements can be hazardous for directors. Mondaq. Available from: [31 May 2016].

Streissguth, T 2016, Is the CEO of a company always the majority shareholder? Hearst Newpapers. Available from: < http://smallbusiness.chron.com/ceo-company-always-majority-shareholder-75787.html > [31 May 2016].

Thomas, RS 2008, ‘Public pension funds as shareholder activists: A comment on Choi and Fisch’, Vanderbilt Law Review, vol. 61, no.1, pp. 1-7.

Velasco, J 2006, ‘The fundamental rights of the shareholder’, University of California Journal, vol. 40, no. 407, pp.407-467.

Williams, P 2016, Coloanial exits James Parker’s Crown citing board independence. The Age. Available from: < http://www.theage.com.> [31 May 2016].

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