The paper "Domino's Pizza LTD and Super Retail Group LTD" is a perfect example of a business case study. The principles and recommendations inclusive of the 2010 amendments therein by ASX Corporate Governance Council need to be adapted. This is together with the Corporation Act 2001 that needs to be a mandatory requirement as they work towards improving the well-being of an organization and stakeholders. Notably, the principles should be reviewed on regular basis in line with the corporate governance in order to ensure consistency of the charter as per the objective of the board of management, existing law and good law practices in the world.
The charters and policies for these principals can be accessed from the corporate governance section on the website of the company. The Principles and Recommendations of ASX Corporate Governance are formatted with specific references to a number of principles that include: 1st Principle: It helps to set foundations for both management and oversight. The Board of Directors works in conjunction with senior-level management of the company and they are answerable to shareholders in overseeing the daily running of the business activities.
They include some overriding objectives that ensure that shareholders value is increased within the proper framework which safeguards the interests and rights of the shareholders of the company whilst making sure there is proper management of the group. The board of management has various duties which include a contribution to and approval of the goals and strategic direction of the company is to observe the application of business strategies and goals. They as well assess the financial well-being of the business, approving annual financial budgets and adopting the annual company’ s financial reports.
The board also approves and monitors the continued fluctuations of acquisition, divestitures and capital management expenditure. Since the board of directors is chief executive officers, they ensure adequate systems of controls within and risk mitigations so as to protect the business.
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