The Corporate World with Governance, Ethics and Internal Control

Name: Stephanie Joy Vito

Class Schedule: MW 2:30 – 4:00

Learning Activities

Directions: Read and analyze the following statements and write your thoughts about it.
Submit your work in the pigeon boxes which are provided in your department/college, or
to google class on or before the date as reflected in your study schedule. See Rubrics in
appendix. You may also access the rubrics in the classwork section in the google
classroom.

Activity 1:

Explain whether the following statement is true or false.

“Governance is exercised only by the government of a country”

This statement is false. Governance is exercised not just by the government of a
country but it is can be exercise by the leaders of any organization. Governance may
be exercised by the government and the different organizations where the leaders of
various institution will be given a free will to implement their own rules and decisions.
Governance can be used and applied in the various sectors of the society and different
context such as corporate, national and local governance. Note that, governance is
defined as a process of decision-making and the process in which decisions are
implemented through the exercise of power or authority by leaders of the country and/
or organization which proves that it can be exercised both by the government and any
organization.

“Not intended for publication. For classroom instruction purposes only”.

The Corporate World with Governance, Ethics and Internal Control

Explain whether the following statement is true or false.

“Transparency and accountability are synonymous”

Transparency and accountability aren’t synonymous because the terms doesn't have
the same meaning but both of the terms are very much significant on venturing the
core aspects of good governance. The terms are connected and serve as a very critical
components of good governance and ethical business practices but not synonymous.
Transparency is a process or an instrument which accountability is presented and
articulated. In other words, the business can be able to analyze transactions that
articulate accountability through having a transparency in decision making process.

Activity 2

Explain whether the following statement is true or false.

“Small business enterprise does not need good governance”

Small business enterprise needs good governance. No business can prosper whether
small or big if it won’t pay a close attention to its good governance practices. Note that,
good governance helps the firm to be efficient in achieving its goals. Absence of good
governance can cause business failures, fraud and slow progress. Small business
enterprise are not exempted so it is very important to practice good governance no
matter what. Practicing good governance can set out clear goals and responsibilities for
the firm which makes the process of doing transactions more easy and effective.

“Not intended for publication. For classroom instruction purposes only”.

The Corporate World with Governance, Ethics and Internal Control

Explain whether the following statement is true or false.

“Responsiveness usually results to effectiveness and efficiency"

Responsiveness in business can result to effectiveness and efficiency because it

open the firm to the end response of each processes done by the business. Lack
of responsiveness of the stakeholders or the people in the firm can cause
effectiveness and efficiency to decrease. With that being said, the presence of
responsiveness allow the flow of information to ease and pave way to the building
progress of the firm.

Explain whether the following statement is true or false.

“Good governance requires absolute rules that must be adopted by all organization”

Good governance requires absolute rules which should be adopted by all organization
because the absence of absolute rules defeats the main purpose as to why good
governance is practiced. Having these rules can help to maintain the balance and ladder
of authority built inside an organization. When the rules are not absolute, the practice
can be tainted and its purpose cannot be met. All organization must and should adopt
these absolute rules provided by the practicing good governance because it can help
the firm to achieve its goals while setting clear and transparent expectations.

“Not intended for publication. For classroom instruction purposes only”.

The Corporate World with Governance, Ethics and Internal Control

Thank you for completing the task. If you have

not completed, or have difficulty in accomplishing the
activity, please send me a message to our google
class or you may ask clarifications through a text
message or phone calls on the contact number
included in your course guide.

And now, you are ready for another activity.

“Not intended for publication. For classroom instruction purposes only”.