From the research it can be comprehended that a corporate body has a distinct legal status and has characteristics and liabilities that are separate from those of its members. It has the right to exist for indefinite period of time. New corporations are created after having them registered and their main purpose is to conduct business and commerce. A corporate body can be owned by two or more individuals who form a partnership with an agreement among themselves to share profits and losses in a pre-determined ratio. A partner can have limited or unlimited liability. A limited liability partner is one whose responsibility for company’s debts is limited only to the amount of his capital contribution. Unlimited liability means when a company is declared bankrupt, then the partner’s personal assets can be seized to clear the debts. All corporate bodies have some common purposes. A corporation garners the interests and funds of its owners to serve the interests of the public. It shall ensure fair profits for its partners but not by endangering the stake of other shareholders. Every corporate body needs to satisfy the needs of the current generation and at the same time must have an insight into the needs of future generations. A corporate body must perform its activities in a legal and ethical manner. The success of a corporate body depends mostly upon the performance of its management personnel. The management should apply proper strategy and innovations in their performance to bring in more profits on a sustained basis for the organisation by improving the performance of the employees and also by encouraging efficient contribution by those who contribute. Performance management works in combination with corporate management in service
Center of discussion in this paper is Olympus Corporation and its Corporate Scandal. Olympus Corporation is a Japanese company that manufactures optical instruments and was established in 1919. It invented many technologies in medical-imaging and one such technology is the endoscope…
Richard Milhouse Nixon first ran for an lost his bid for the U.S. presidency in 1960. He successfully mounted and won his 1968 bid for the presidency by beating Hubert Humphrey in what can only be called a closely fought election. He was inaugurated into the presidency on January 21, 1969.
The company was formed in 1985 by Kenneth Lay, after the merger of Houston natural gas and inter-north. It was a natural gas, energy trading, and electrical utilities company which was based in Houston Texas. Before its bankruptcy, Enron employed roughly 21,000 people.
The company began to expand its operations by building up power plants as well as by operating gas lines but, this company became largely known not for these businesses but because of its unique trading businesses. Apart from its core business of buying and selling off gas the company diversified into unrelated businesses such as the broad casting times for advertisers, Internet bandwidth and the weather futures (Li, 2010).
Opinions of the mass audience can change overnight and the celebrities can become infamous with just one wave of the media. This can be observed from the scandal of Tiger Woods which is better known as the “The Tiger Woods Sex Scandal”. Background Tiger Woods is one of most brilliant, successful and famous golf players.
After investigation, it was revealed that the thieves were actually information officials who had been hired by the US President Richard Nixon’s administration to gather secretive political information for the ruling government. Subsequently, the police found that many members of the Government including the President himself was involved in trying to cover up the incidents of that night.
This can be observed from the scandal of Tiger Woods which is better known as the “The Tiger Woods Sex Scandal”.
Tiger Woods is one of most brilliant, successful and famous golf players. His career comprises of a series of records in
The company misrepresented its financial status for thirteen years. It had overstated its earnings by 500% in the 9 months before the scandal imploded and $11 billion during the whole period (Markham 375). Its actual debt was $15.1 billion, eight times more than it
The size of the scandal was about $ 1.7 billion (Sophie, 2013). It was done by manipulating figures at the time of acquisition of a British medical equipment firm. Olympus paid around one third of the price as consulting fees. The entire fraud was done to
3 pages (750 words)Research Paper
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