Corporate governance Assignment 1

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Business Management Question

Justify and communicate corporate governance advice, guidance and ideas in complex collaborative contexts involving both professional and non-professionals in the corporate governance field?
 

Business Management Solution

Introduction
 
The director to a governing board plays an important role in ensuring organizational prosperity by effectively directing company’s strategies and actions along with meeting the relevant interests of all the shareholders and stakeholders (Tricker, 2015). This report outlines the essential criteria for the appointment of a director to the board of Tourism Australia.
 
Literature Review
 
  • The director of the tourism industry should have the following necessary characteristics (Larcker & Tayan, 2011)
  • Skills such as people management, good communication skills, capacity to formulate and evaluate strategies
  • Integrity
  • Ethical and Moral Responsibility
  • Diversity
Essential Criteria for Appointment of a director to the board of Tourism Australia
 
Skills: People management and good communication skills would enable the director to utilize the skills at different levels in the industry effectively. Capacity to formulate and evaluate strategies will enable the director to make decisions, which can attract more tourists and add value to all businesses related to tourism.

Integrity: Director’s integrity will encourage the rest of the members to work effectively and efficiently for the benefit of all and would help Tourism Australia to achieve the goal of adding value to the economy and to the tourists visiting the nation. 

Ethical and moral responsibility: Director should have an ethical and moral responsibility for his/her own conduct as well as that of the team.

Diversity: Director should have openness to differences among people and perspectives working within the industry.
 
Conclusion
 
Board of directors is required to deal with the challenges related to corporate governance and corporate ethics and also manage the overall situation, policy and strategy of the organization. The prospective director to the board should have characteristics such as industry-relevant skills, integrity, ethical and moral responsibility and diversity…………………..
 
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