Criteria For The Appointment Of Director To The Board Of Tourism Australia -

Criteria For The Appointment Of Director To The Board Of Tourism Australia

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Project Management Question

Assessment Task 1 

Assessment Objective: The objective of this assessment item is to assess your ability to meet the  unit learning outcome number four. Justify and communicate corporate  

governance advice, guidance and ideas in complex collaborative contexts  

involving both professional and non-professionals in the corporate  

governance field.  

Assessment Criteria: 

High quality written communication of corporate governance  

concepts 

Structure and professional presentation of the report 

Demonstration of knowledge of the issues 

Case Material: 

‘MANTRA boss Bob East and tourism industry leader Andrea Staines have been appointed to the board  of Tourism Australia. 

The appointments, announced by Federal Minister for Trade and Investment Steven Ciobo, mark the  first Gold Coasters to serve on the board since its inception. 

Tourism Australia aims to support the Australian economy and the growth of the tourism industry by  promoting Australia as both a leisure and business events destination. 

“I am confident Bob East and Andrea Staines, with their substantial knowledge and experience in the  tourism sector, will contribute to the success of Tourism Australia and ensure it continues to meet the  challenges posed by an increasingly competitive environment,” says Ciobo. 

East has more than 20 years’ experience in the tourism industry, currently serving as the CEO of the  Mantra Group. 

He has helped shape Mantra Group into the second-largest, Australian-based hotel company, making  it a leading accommodation provider within Australasia. 

His experience also includes serving on the boards of Gold Coast Tourism, Tourism and Transport  Forum, Tourism Accommodation Australia and Gold Coast Football Club. East is also Chairman of Tourism Events Queensland and Chair of the Tourism and Transport Forum’s Accommodation Sector  Panel.

Meanwhile, Staines is an accomplished non-executive director with experience on a range of listed,  government, private and not-for-profit companies in the infrastructure, transport, logistics and retail  service arenas. 

Staines is a former CEO of Australian Airlines, a Qantas subsidiary flying between Asia and Australia,  which she co-launched in 2002. This role saw Staines become Australia’s first female CEO of a  scheduled passenger airline. 

In addition to the appointments, existing member of the board Andrew Fairley will take up the position  of deputy chair for 12 months from 1 July 2016. 

The new appointments are for three years, from 1 July 2016.’ 

Required: 

Assume you are employed in a management consulting firm and have expertise as a corporate  governance specialist. Your client, Tourism Australian has requested you to provide a one  page brief (maximum 250 words) specifying the essential criteria for a director to be  appointed to the board of Tourism Australia.  

The client has said; ‘Make it brief, I’m too busy to read a long document. You should follow  the ideas of former UK Prime Minister Winston Churchill who stated: 

‘To do our work, we all have to read a mass of papers. Nearly all of them are far too  long. This wastes time, while energy has to be spent in looking for the essential points.  I ask my colleagues and their staff to see to it that their reports are shorter. The aim  should be reports which set out the main points in a series of short, crisp paragraphs…’ 

Winston Churchill, Memo to UK War Cabinet, 9 August 1940, During the Battle of Britain

Assessment Task 2 

Part 1 (12.5% – 1,000 words) 

Assessment Criteria: 

Demonstration of knowledge of the issues and evidence of wide reading to  support your analysis 

Demonstration of your ability to apply the knowledge to identify keys issues  leading to your recommendations 

Evidence of sound reasoning and the exercise of professional judgement to  support your recommendations 

Development and statement of concise recommendations for presentation to  the Chairman and shareholders 

Overall structure and professional presentation of the report to the Chairman  and shareholders 

High quality written communication of concepts and terms in ordinary English  as not all shareholders can be assumed to be professionally competent in  corporate governance  

‘Directors warn the buck stops with chief executives in the latest salvo in the business culture  wars between government, regulators and boards.  

Australian Securities Commission chairman Greg Medcraft last week said that accusations he  wants to change the law to hold directors criminally liable for wayward culture are a  misunderstanding and he is not pushing for changes “at this stage”. 

Tensions between directors and ASIC have escalated following the regulator’s cases against  Westpac Banking Corp and ANZ Banking Group and Labor’s call’s for a royal commission into  the banking sector which have given rise to accusations the regulator is seeking to become  the culture police. 

Directors including Qantas Airways’ Jacqueline Hey, Australia Post chairman John Stanhope  and founder and director of IBIS World Phil Ruthven told an Australian Institute of Company 

Directors lunch on Wednesday that while boards can “set the right tone”, the buck stops with  the CEO. 

“CEOs set culture not boards,” Mr Ruthven said. 

Patrick Durkin ‘Directors of boards warn that buck stops with CEOs’ The Australian Financial  Review Thursday 14 April 2016, p.8 

Required 

Assume you have been engaged as a corporate governance consultant to a board of directors  of a public company listed on the stock exchange. Your assignment is to prepare a report to  be submitted to the Chairman of the board explaining and analysing how the company should  define and delineate the separate roles, duties and responsibilities of the company’s board of  directors from those of the CEO. Your report should contain specific recommendations on the  separate roles of directors and the CEO. The Chairman has specifically indicated that she  intends to make your report available to shareholders of the company and that the document  will be published on the company’s web site. 

Part 2 (12.5% – 1,000 words) 

Assessment Criteria: 

Demonstration of knowledge of the issues and evidence of wide reading to  support your analysis 

Demonstration of your ability to apply the knowledge to identify keys issues  leading to your recommendations 

Evidence of sound reasoning and the exercise of professional judgement to  support your recommendations 

Development and statement of concise recommendations for presentation to  the AICD 

Overall structure and professional presentation of the report to the AICD High quality written communication of concepts and terms using language for  an audience that is assumed to be professionally competent in corporate  governance  

‘Since detailed data on corporate governance indicators first became widely available about  25 years ago, evidence has emerged that simple top-down strategies favoring well-run  companies could yield outperformance. However, probably because this effect became  known to many investors, that simple approach seems to be no longer effective. None the  less, we do identify some ways in which investors can still adopt strategies that may be able  to take advantage of corporate governance indicators’.

Michael O’Sullivan, “How Corporate Governance Matters” Credit Suisse Research Institute,  January 2016, p.6 

Required 

Assume you have been employed as a corporate governance consultant by the Australian  Institute of Company Directors (AICD). The AICD is concerned that investors do not value good  corporate governance in their investment decision-making models. Your assignment is to  prepare a report to be submitted to the AICD evaluating the evidence that good corporate  governance is positively associated with high investor returns. In your report the AICD has  asked you to make recommendations so that companies with good corporate governance  practices can align these practices to maximise their investor returns.  

Assessment Task 3 

Part 1 (15% – 1,200 words) 

Assessment Criteria: 

Demonstration of knowledge of the issues and evidence of wide reading to  support your analysis 

Demonstration of your ability to apply the knowledge to identify keys issues  leading to your recommendations 

Evidence of sound reasoning and the exercise of professional judgement to  support your recommendations 

Development and statement of concise recommendations for presentation to  the Chairman 

Overall structure and professional presentation of your report to the  Chairman 

High quality written communication of concepts and terms as the Chairman  can be assumed to be professionally competent in corporate governance  

“One is a token, two is a presence, three is a voice. Sound familiar? This seems to be the effect  of placing women on corporate boards. Although corporate leaders may think otherwise,  academic research seems to find this effect again and again. 

In Australia, women hold 14.2 per cent of board chairs, 23.6 per cent of directorships, and  15.4 percent of CEO roles. In recent months, the Australian Institute of Company Directors  (AICD) and the Business Council of Australia (BCA) have called for greater gender diversity in  Australian boards. 

There was an attempt by senator Nick Xenophon to legislate gender diversity in Australian  government boards; however, the bill was later rejected by a government-controlled Senate  Committee. 

The AICD has set a target of 30 percent female board members and urged S&P / ASX 200 firms  to meet the target by the end of 2018’.

Reza Monem, “Three women is not a crowd on a company board’, The Australian Financial  Review, Friday 22 April 2016, p.35 

Required 

Assume you have been employed as a corporate governance consultant by a company listed  on the Australian Stock Exchange and ranked within the ASX 200. The Chairman of the  company has decided to address the issue of gender diversity on the company’s board to  ensure the board meets the AICD target by the end of 2018. As an initial step in the process  of increasing the gender diversity of the board the Chairman has employed you to prepare a  report that critically analyses and assesses the evidence that gender diversity on a company  board is associated with improved business performance and also provide recommendations  on how the company should initiate a gender diversity policy for the board. Your report will  be tabled at the next board meeting for board members to review and evaluate your  recommendations.  

Part 2 (15% – 1,200 words) 

Assessment Criteria: 

Demonstration of knowledge of the issues and evidence of wide reading to  support your analysis 

Demonstration of your ability to apply the knowledge to identify keys issues  leading to your recommendations 

Evidence of sound reasoning and the exercise of professional judgement to  support your recommendations 

Development and statement of concise recommendations for presentation to  the AII 

Overall structure and professional presentation of your report to the ASA High quality written communication of concepts and terms in ordinary English  as the report will be published on the ASA web site and not all readers can be  assumed to be professionally competent in corporate governance  

‘There are many examples in Australia of whistleblowers being retrenched or punished for being brave enough to reveal issues in the public interest.  

It is unfortunate but not uncommon for whistleblowers to be forced to take costly actions  through the courts or Fair Work Commission after losing their jobs. 

The move to uncover best practice in whistleblowing in the private sector is timely given the  recent high-profile scandals at Target and CommInsure as well as the allegations of a broken  corporate culture which was raised during Labor’s call for a royal commission into financial  services. Whistleblowers revealed unethical behaviour at the Westfarmers-owned discount 

department store Target and at the Commonwealth Bank of Australia subsidiary CommInsure.  The Target case involved an unknown person in the accounts department tipping off  management about the use of supplier rebates to create about $20 million in additional profits  in the half year to December. 

Seven people have been sacked following that disclosure and former Target CEO Stuart  Machin has left Westfarmers while denying all knowledge of what happened. 

In the CommInsure case, chief medical officer Benjamin Koh claimed doctors were pressured  to change medical reports, patient’s files were deleted and claims delayed as part of a strategy  to avoid policy pay-outs. Koh lost his job for breaching CBA’s IT policy relating to taking client  files home. But at this stage it would appear his actions have been vindicated given that CBA  chief executive Ian Narev has apologised for what happened’. 

Tony Boyd ‘ASIC backs whistleblower project’, The Australia Financial Review, Friday 15 April  2016 p.40 

Required 

Assume you have been employed as a corporate governance consultant by the Australian  Shareholders Association (ASA). The ASA is concerned with the risks associated with  investments in corporations that do not have a ‘best practice’ whistleblower policy. In order  to minimise this risk the ASA wants to know what are the best-practice contemporary  standards for whistleblower policies. Your assignment is to prepare a report to be published  on the ASA web site recommending best-practice whistleblower policy for adoption by listed  companies on the Australian stock exchange.

Project Management Solution

Introduction

Tourism Australia’s governance policies are structured in compliance with the Public Governance, Performance and Accountability Act 2013 (Tourism Australia, 2015). Legally, a director is required to demonstrate care, diligence, faithfulness and proper use of position and information (AICD , 2016). This document lists the criteria that are essential for a Director to be appointed to the Board of Tourism Australia. 

Criteria for the Appointment of Director to the Tourism Australia Board 

  • Suitability

The individual should have the ability to discharge the duties of the board and influential in garnering other’s support (Mersky, 2012).

  • Experience and Skills

The individual has to exhibit a higher degree of competence, industry expertise and strategic skills with commercial and business acumen (MTGibsonIron, 2013).

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