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Work Related Learning: Puddingdown Playhouse
Finance & Accounting
Pages 8 (2008 words)
Corporate governance is critical to managing the affairs of an organisation. The intricate nature of relationships between the various stakeholders of a business ensures that managing such relationships is critical to business. These relationships are better managed by utilising sets of customs, laws, policies and processes.
One of the more important issues that are dealt with through corporate governance is the amount and extents of power available to central figures in organisations. (Shleifer & Vishny, 1997) Moreover corporate governance promotes accountability and transparency within an organisation to ensure that business processes are not tainted in favour of one group, individual or lobby. In recent years the appearance of large corporate scandals such as Enron Corporation, HIH, One Tel etc. have focused attention to corporate governance again. (Bowen, 2008) This particular study of corporate governance practices in Puddingdown Playhouse and its parent company Sparkling Theatres Limited is aimed at highlighting inept corporate governance strategies in order to warrant their improvement. Recommendations are included with each piece of critique in order to achieve relevance. Nature, Purpose and Structure of Organisation The Puddingdown Playhouse is a small company that is based within a small community setting. The company is aimed at providing cheap and sustainable entertainment to local residents while providing chances to socialise at the same time. Moreover the company aims to protect the legacy of a historical theatre that was established in 1266. The company is structured rather haphazardly and powers are concentrated within the upper tier management. The middle and lower tier management is without much power. This infuses strict morale problems for the middle tier employees and especially for the lower tier employees. ...
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