B143

MGT 4-C
MODULE 1
I. LEARNING ACTIVITIES

Activity 1. On the space provided write A. for stakeholders; B. for agency issues and
problems C for attributes of corporation; D for responsibility of CFO/CEO

___A____1. public
___D____2. implement internal control
___A____3. employees
___B____4. conflict of interest
___B____5. managerial opportunism
___D____6. develop relations with financing sources
___D____7. advisor to management
___B____8. managerial defensiveness
___A____9. management
___D____10.audit

Activity 2. Internet Exercise

Locate the website of the World Council for Corporate Governance and work on the
following:
1. What are the mission, vision and objectives of the WCFCG?

MISSION

The World Council for Corporate Governance aims to help improve the
quality of corporate governance practices worldwide by promoting greater
transparency, integrity, probity, accountability and responsibility.

VISION

It aims to achieve its vision through a four-pronged action plan called IDEA:

 Interaction: broaden the interaction among all stakeholders involved in

corporate governance process
 Dialogue: identify specific needs of developing and transition economies and
use the power of dialogue to build a consensus and create partnerships
among all stakeholders especially public and private sectors and capital
providers with a view to adopting best corporate governance practices
 Exchange: exchange information, experience and knowledge about best
practices in corporate governance worldwide through conferences, seminars,
workshops and roundtables
 Action: provide hands-on technical support to help developing and transition
economies to bridge the gap between them and developed countries

OBJECTIVE

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 B143
MGT 4-C
The WCFCG’s objective is to concentrates on the betterment and
improvement of how the corporate governance is practiced nowadays.

SOURCE: https://www.eldis.org/organisation/A6495

2. What was the 2005 London Declaration?

The 2005 London Declaration is about the “Patients for patient safety”
also known as the World Health Organizations (WHO) World Alliance for Patient
Safety. They are gathered in London for 3 days from November 27-30, 2005, to
form an alliance to help reduce the massive burden of avoidable harm in health
care and will be the voice of all patients, especially those who are now unheard.
During the London declaration they pledge to help create a world in which health
care errors harm fewer people. They have also stated that there is a right to safe
health care and will not let the current culture of error and denial continue so they
are calling for honesty, openness and transparency. They are committed to spread
the words to everyone even from country to country and will make the reduction
of health-care errors a basic human right that protects human life around the
world.

SOURCE:https://www.who.int/patientsafety/information_centre/Final_London_Declaration_Feb
06.pdf

3. Explain the acronym PREEMPTIVE

P ARTICIPATION
R ESPONSIBILITY
E QUITY
E THICS
M AXIMISE CORPORATE VALUE
P ERFORMANCE
T RANSPARENCY
I NDEPENDENCE OF THE BOARD
V ARIETY IMPROVES THE CROP
E DUCATION & TRAINING
Source: https://www.coursehero.com/file/p4mdt14e/Explain-the-
acronym-PREEMPTIVE-P-ARTICIPATION-R-
ESPONSIBILITY-E-QUITY-E-THICS-M/

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