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economy as a whole. Effective governance is the means of building and maintaining the qualities that are at the foundation of all commerce: confidence and public trust.”
remember the findings of a 2002 McKinsey survey concluding that institutional investors will pay a premium for stock offered by well-governed companies, especially in developing markets. The survey also found that, in deciding where to put their money in these countries, investors pay more attention to governance issues than to financial metrics. We recognize that corporate governance is an important tool for maximizing shareholder value, and that’s why we put so much effort into thinking about it.
ICBC’s Board is currently composed of 15 directors—4 executive directors, 7 nonexecutive directors, and 4 independent directors. I see the board as the soul of a company. Sound corporate governance has a lot to do with a board’s structure, decision making style, and efficiency. The quality of a board’s members determines the board’s ability to perform its duties. A good board structure should be independent, professional, ethical, honest, and dedicated.
Our board has made great efforts to enhance ICBC’s development and risk management. Shortly after the company went public, the board developed a threeyear plan with specific targets around restructuring, regional development, innovation, differentiated service, crossborder operations, comprehensive risk management, IT, and HR. In the past three years, those targets have all been met or exceeded. These efforts have earned us global recognition. Last year, The Banker magazine picked ICBC as its “Bank of the Year” for Asia.
Balance is the secret to effective governance. More specifically, what I mean by this is you have to balance shortand long-term profits, as well as short- and long-term risks.
Discrimination means treating a person differently based on the group, class, or category to which that person belongs rather than on individual merit.
In the U.S., employment discrimination occurs whenever an employer or its representatives adversely (contrary to one's interests or welfare; harmful or unfavorable) singles out employees or applicants on the basis of age, race, gender, sexual orientation, disability, religion and a variety of other reasons.
The U.S. Equal Employment Opportunity Commission (EEOC) is the agency of the United States Government that enforces the federal employment discrimination laws.
Employers can't discriminate against an employee in any aspect of employment, such as: Hiring and firing Compensation, assignment, or classification of employees Transfer, promotion, layoff, or recall Job advertisements Recruitment Testing Use of company facilities Training and apprenticeship programs Fringe benefits Pay, retirement plans, and disability leave
To be "illegal" discrimination, your employer must be in violation of a specific state or Federal law, regulation or constitutional provision. Otherwise, you are not generally protected from discrimination, however unfair or unethical it may seem. For example, if your boss is much harder on you than anyone else for no apparent reason, while it might be unethical behavior for a boss, it's not discrimination by law. But if he or she is extra hard on you for a reason that's protected by law, such as your religion, age or sex, then it is illegal discrimination, especially if you suffer damage such as getting passed over for a welldeserved raise or promotion.
Age Discrimination in Employment Act of 1 - Prohibits (forbids) employment age discrimination against individuals who are at least forty, but less than sixty-five years old. Americans with Disabilities Act of 1990 – Prohibits employment discrimination against qualified individuals who have disabilities, because of their disabilities.
Equal Pay Act of 1963 - Prohibits wage discrimination between men and women who work jobs that require equal skill, effort, and responsibility, in the same establishment and under similar working conditions. Civil Rights Act of 1964 - Title VII prohibits discrimination in compensation, terms, conditions, or privileges of employment, because of race, color, religion, sex, or national origin.
• Sexual harassment occurs when one employee makes continued, unwelcome sexual advances, requests for sexual favors, and other verbal or physical conduct of a sexual nature, to another employee, against his or her wishes.
Unwanted jokes, gestures, offensive words on clothing, and unwelcome comments and joking conversation. Touching and any other bodily contact such as scratching or patting a coworker's back, grabbing an employee around the waist, or interfering with an employee's ability to move. Repeated requests for dates that are turned down, or unwanted flirting. Transmitting or posting emails or pictures of a sexual or other harassment-related nature. Displaying sexually suggestive objects, pictures, or posters. Playing sexually suggestive music.
Are you a U.S. citizen? Do you have a visual, speech, or hearing disability? What’s wrong with your leg? How many days of work did you miss last year due to illness? What year did you graduate from high school? How old are you?
Would you have a problem working with a female partner? Where did you grow up? Are you planning to have a family? When? Do you have children? How old are they? Does your wife have a job? Who will take care of your children?
These rather simple and seemingly nonthreatening questions when conducting interviews can easily violate one of the laws against discrimination.
In the U.S., almost every job will have a written job description. It is used to describe the duties, responsibilities, qualifications and any restrictions. This job description is written before advertising the job and interviewing candidates. It is the reference document against which all candidates are judged .
Job Title: Receptionist Department: Operations Reports To: Director of Operations SUMMARY Receives callers at establishment, determines nature of business, and directs callers to destination by performing the following duties.
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned. Obtains caller's name and arranges for appointment with person called upon. Directs caller to destination and records name, time of call, nature of business, and person called upon. Operates PBX telephone console to receive incoming messages. Types memos, correspondence, reports, and other documents. Issues visitor's pass when required. Makes future appointments and answer inquiries. Collects and distributes mail and messages. Performs variety of clerical duties.
QUALIFICATIONS To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. EDUCATION and/or EXPERIENCE One year certificate from college or technical school; or three to six months related experience and/or training; or equivalent combination of education and experience.
LANGUAGE SKILLS Ability to read and interpret documents such as safety rules, operating and maintenance instructions, and procedure manuals. Ability to write routine reports and correspondence. Ability to speak effectively before groups of customers or employees of organization. MATHEMATICAL SKILLS Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals. Ability to compute rate, ratio, and percent and to draw and interpret bar graphs.
In small groups, review the job description for a receptionist in your company, and the resume of Amanda York, who is applying for this position. Write 8 interview questions to ask Ms. York. Remember the types of questions you cannot ask!
Group Project 3
Global Financial Institutions –
◦ ◦ ◦ ◦ ◦ Bretton Woods Conference World Bank (2 Groups) International Monetary Fund (IMF) The G-20 Conference GATT – General Agreement on Tariffs and Trade and Intellectual Property Rights
Some of the information for your presentations is in the article “The Bretton Woods Trio,” pages 28-36. You will also have to do independent research on your topic.
1922 -1945 Veterans Silent Generation Traditionalists
1946 – 1964 Baby Boomers
1965 - 1980 Generation X Gen X Xers
1981 - 2000 Generation Y Gen Y Millennials Echo Boomers
Work Characteristics Work values
Baby Boomer Work hard Loyal to employer Teamwork Chain of command Wants to manage Technically challenged
Xers Personal satisfaction Loyal to skills Prefers to work alone Individual is first No need to lead Technically savvy
Job promotion Loyal to employer Balance of work and family Steady and Rhythmic Formality (Authority) Commitment Corporate paternalism
Job Satisfaction Loyal to skills Quality of life Fast Informality Negotiation Empowerment
Money & recognition Reward Job security Liberal Sense of entitlement Highly competitive Step by step promotion Authority Employee
Educational reward Job challenged Pragmatic Entrepreneurial Extreme individuality Quick promotion Flexible/Freedom Ownership
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