What is human resource management and should it be an...

Human Resources managers are the most important features of any business especially in an economy where there is an increasing shift towards service based industry. Price (1997) for example argues that HRM account for a great proportion of many business costs and it is the people that drive business. Through the key components of HRM such as recruitment and selection, training and developments, the essay will argue on the importance of HRM in organizations and how it contribute to organizational strategy. According to Beardwell (2007), in the previous years, there have been increasingly rapid advances in the field of HRM. The management of people within organizations has moved from the sideline to central stage. This has enabled†¦show more content†¦HRM therefore involves finding out about the needs and aspirations of individuals. According to storey (1995:5) HRM is a â€Å"distinctive approach to employment management which seeks to achieve completive advantage thought the strategic deployment of a highly and capable workforce using an integrated array of culture, structural and personal techniques.† Consequently, strategic management has become important in the current years. Snell, Youndt and Wright (1996) classified that the strategic role of HRM is to achieve competitive advantage through people. In other words, strategic leadership is about the achievement of sustained comparative advantage over the competition. Tyson (1995) on the other hand outlines that typically, strategic HRM focus on the integration of HR with the business and its environment. Observing critically of the importance of strategic HRM, It is very important for any organization to have strategic management in order to achieve their strategic objectives. Holbeche (2001) state that strategic HRM involves linking HRM strategy with strategic goals in order to improve business performance and developing organizational cultures that foster innovation flexibility. In his major study of strategic management, he concluded that HR activities such as recruitment, selection, training and rewarding personnel are done by keeping in view the companys goals and objectives. Moving on to HRMShow MoreRelatedâ€Å"Critically Assess the View That Human Resource Management Practices Should Be Designed to Fit the Business Strategies and Objectives†Ã¢â‚¬Æ'1310 Words   |  6 Pagesassess the view that human resource management practices should be designed to fit the business strategies and objectives†Ã¢â‚¬Æ' Dynamism is increasingly becoming a feature of the business environment, so what can businesses do to attain and sustain a competitive advantage? They need to set out clear goals and objectives and then ensure that all internal processes and activities are designed in a manner to attain these goals and objectives. Furthermore, some of these practices should be linked directlyRead MoreThe Importance Of A Team Leader And Team Members1263 Words   |  6 Pagesencouraging workers to operate and collaborate in A participatory team are necessary for human resource management. Work must be distributed fairly therefore workloads that all team members carry are equal. In order to help to distribute tasks equally among team members as well as to guide work organisation, job descriptions are often utilised (16). Beside task distribution, coordination in teamwork is important to help work to progress smoothly. This will bring groups of activities into appropriateRead MoreConcept Of Strategic Human Resource Management1552 Words   |  7 PagesIntroduction Human Resource Management (HRM) has effectively been an integral part of organizations’ since the end of the 19th century. There has been continuous shift in name change, focus and responsibilities of HRM, with the role progressively evolving since the days of the industrial revolution, reflected in the change of terms from Welfare Officers, Personnel Management, Human Resource Management (HRM) and most recently Strategic Human Resource Management (SHRM). Many academics have writtenRead MoreAn Introduction To Organizational Strategic Management958 Words   |  4 PagesAccording to Weigl, a strategy as the determination of the essential long-term goals and objectives of an organisation, and adoption of courses of action and distribution of resources required for carrying out those goals. He also that it is the plan or pattern that integrates an enterprise s major policies, actions and goals sequence into a cohesive whole. A well-formulated strategy assists to rationalise and allocate an enterprise s resources into a viable and unique posture based on its relativeRead MoreThe Role Of Hrm Policies And The Wider Organisational Strategy1092 Words   |  5 PagesThe importance of HRM’s role is not debated and some key characteristics of its influence have been identified. The degree of ‘fit’ between HRM policies and the wider organisational strategy for knowledge sharing, integration and creation must be analysed. Pl acing emphasis on individual experience or on collective knowledge bases has dramatic implications for the kinds of selection, career development and reward policies that will be effective for the organisation. There are also longer-term effectsRead MoreHrm Roles And Roles For Hrm Managers1329 Words   |  6 Pagesperforms various duties other than general hiring and recruitment functions. The idealised role of HRM is to make strategies related to employee empowerment and those strategies should be linked with business strategy. This association between HRM policies and business strategy, results in improvement in business performance. Therefore, this phenomenon makes HRM an important factor in organisational decision making and performance. In contemporary practices the emphasis on HRM functions and role has increasedRead MoreEssay on Performance Appraisal1528 Words   |  7 PagesPerformance appraisals are a major component of human resource management systems used by organisa tions to measure and manage what is considered to be the most valuable resource available to them; human capital. This report aims to evaluate the effectiveness of performance appraisals and its application to both the employer and its employees, taking into consideration various rationales for its implementation. This will be achieved through an in depth review of the concept of performance appraisalsRead MoreThe Human Resource Management Procedures1467 Words   |  6 Pageshave not met entry requirements for a particular degree. This paper will discuss the organisational culture and structure, the human resource management procedures, the leadership styles and motivation techniques used within the department. First section will highlight the values, strategy, administration and academic structure. The next section will focus on the human resource management processes. The third part will explore the department’s type of leadership and motivation theory. IA was createdRead MoreManaging Manager Management And Organisation1622 Words   |  7 PagesIntroduction This report is going to discuss about manager, management and organisation. It will assess the manager, management and organisation. It will assess the significant of manager in achieving organisation success for a company. It will also analysis how size and strategy can affect organisation structure. Finally, it will discuss, explain and suggest how the current structure of Tesco can be changed to improve performance. 2. Manager, Management and Organisation 2.1. Manager Managers are individualRead MoreLimitations to Hr Planning1743 Words   |  7 Pages | Question: Examine the limitation to Human Resource Planning. What you advocate as the measures for dealing with identified limitations? Definition of Human Resource Management It is proposed that we take human resource management to be that part of management concerned with: All the decisions, strategies, factors, principles, operations, practices, functions, activities and methods related to the management of people as employees in any type of organisation (including

Critical Analysis of Mother Tongue Essay - 907 Words

Nicholas Wiest Beverly Williamson English 111 September 21st, 2012 Critical Analysis Essay I have chosen â€Å"Mother Tongue† for the subject of my essay. I chose this essay because Amy Tan has a unique writing style which has tone that is clear and identifiable. Tan makes her arguments in a way that is easily understood. While her tone is sometimes humorous and captivating, it still clarifies some serious issues. These qualities among others leave Tan’s work to be desired by almost any reader because her tone and style are both genuine and upfront. This essay will talk about how Tan’s work in her essay â€Å"Mother Tongue† uses several different styles and tones to make her point of regarding the differences of her communications with her†¦show more content†¦Basically what the writer is trying to say is that if you consider who you’re communicating with, and think about how you are corresponding your thoughts, you can use it as a strong and effective method of communicating in a clearer way. While Amy Ta ns’ tone is carefully crafted and constructed, she does have her own way of communicating that is unique. It could be compared with hearing a story that is full of inherent truths from a sage elder, or someone you respect greatly. Tan has a clearly knowledgeable and almost wise way of corresponding her thoughts and ideas. There are traces of this tone in the text if you are keen enough to notice it (Tan p.37-38). To the contrary of my previous point, this is an example of a tone that may not have been forged purposely by the writer, but rather a tone that is simply natural to how Tan writes, an involuntary product of how Tans’ own personal experiences have fashioned themselves in her writings and articles. If you’ve ever read any other of her works such as â€Å"The Joy Luck Club†, you can notice a similar tonality. Tans’ tone could be described as patient, or fulfilling. The writer isn’t afraid to take her time in writing out a story in det ail, and she has an excellent way of bringing her words around full circle in a way that gives the reader a sense of closure. You can clearly gather from the text that the writer has put a lot of time and effort into what she has written, without losing herShow MoreRelatedMother Tongue : Critical Analysis1247 Words   |  5 PagesThis essay provides a critical analysis of an article by Amy Tan entitled Mother Tongue. From the article, it is well evident that the personas mother cannot be able to speak good English. This should not be taken to imply that she is not able to exercise her brain power. The wrong overdue misconception and association of English with intelligence should come to an end. The authors mother is an Asian and has learned English as her second language; it is not her mother tongue (Tan, 2006). As suchRead MoreGrammar translation method827 Words   |  4 Pagesvarious declensions and conjugations, translations of texts, doing written exercises.   Rules of grammar, not the language itself, are all important. Verb declensions are set out tables, vocabulary lists to be learned, leading to translation from mother tongue into target language and vice-versa. There is little or no attention to pronunciation. The learner would acquire the skill of translating in writing from L2 to L1 and vice versa. Speaking the foreign language will play a very little part in theRead More(A Critical Analysis of Alice Walker’s short story Everyday Use)700 Words   |  3 PagesAntojos de Mis Ojos (A Critical Analysis of Alice Walker’s short story Everyday Use) Albert Camus once asserted: â€Å"Men are never convinced of your reasons, of your sincerity, of the seriousness of your sufferings, except by your death. So long as you are alive, your case is doubtful; you have a right only to their skepticism.† In Everyday Use a strong willed mother tries to protect her younger daughter, Maggie, from having a quilt passed down for generations stolen from her by her materialisticRead MoreFirst Language Acquisition And The Doubt Towards Contrastive Analysis1442 Words   |  6 PagesDue to the development in first language acquisition and the doubt towards contrastive analysis which has deemed that all errors made by language learners are caused by the interference from the mother tongue, error analysis, a response to and an alternative of contrastive analysis and an approach influenced by behaviourism was given birth to and become increasingly popular among researchers and teachers who began paying more attention on and shifting the interes t in the errors made by second languageRead MoreError Analysis : First Language Acquisition1452 Words   |  6 PagesError analysis Due to the development in first language acquisition and the doubt towards contrastive analysis which has deemed that all errors made by language learners are caused by the interference from the mother tongue, error analysis, a response to and an alternative of contrastive analysis and an approach influenced by behaviourism was given birth to and become increasingly popular among researchers and teachers who began paying more attention on and shifting their interest in the errorsRead MorePersonal Importance Of Writing863 Words   |  4 PagesStudying English as a foreign language has been a steady path for my academics as I speak a different mother tongue, but as much as one person writes that much he will progress. Being an enthusiast on deliberating and interpreting things, for the most writing has helped me acuminate my analysis skills. Usually, people have a tendency to focus on specific parts and my focus would be critical thinking. My main aim of this class was to learn new methods in consisting introduction and the main bodyRead MoreWhat Are Your Opinions About?1224 Words   |  5 PagesI remember a number of occasions during my early years when I would try to argue with my mother, and in my mother tongue, she would repeatedly say the same words; words that loosely translate to the English language as â€Å"invest a few moments in â€Å"thinking†; it will pay good interest. I never really understood what my mother’s words meant, until a few years ago when I realized that she had been advising me to think critically. In our world today, arguments or discussions about one’s point of view withRead MoreEssay about Edgar Allen Poe, Father of Modern Detective Fiction9 19 Words   |  4 Pagesto solve the mystery and will create a guideline for all detective stories to come. The word detective was not in existence until Poes writings. Mysteries had existed but never such a story that used a detector or placed such emphasis upon analysis versus trial and error. The vivid painting of the scene of the crime as well as the crime itself was likewise never done in writings until Poe. Poe was fascinated with puzzles, word games and secret codes. (Pos-Ho pg 1333) Poe expresses thisRead More An Analysis of Frosts Tree at my Window Essay example826 Words   |  4 Pages  An Analysis of Frosts Tree at my Window  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚        Ã‚   The poem Tree at my Window was written by Robert Frost, an America poet who was born in 1874 and died in 1963 (DiYanni 624). The narrator in this poem appears to be speaking to the tree at my window; then, repeating the phrase in reverse order, he calls it the window tree, as if to emphasize the location and nearness of the tree. Calling the tree a window tree, might also suggest that this tree is something he sees through,Read More An Analysis of Frosts Tree at my Window Essay838 Words   |  4 PagesAn Analysis of   Frosts Tree at my Window      Ã‚   Tree at my Window was written by Robert Frost, an American poet who was born in 1874 and died in 1963 (DiYanni 624). His poem will be the basis of the discussion of this brief essay. The narrator in this poem appears to be speaking to the tree at my window; then, repeating the phrase in reverse order, he calls it the window tree, as if to emphasize the location and nearness of the tree. Calling the tree a window tree, might also suggest

Slavery Of The North And The Overall American Shifts

Slavery was one of the principal reasons for America gaining its financial independence, and it grew steadily up to the moment it was abolished by war. According to the Library of Congress (n.d.) the number of slaves grew from 700,000 slaves in 1790 to more than 2 million by 1830 and on the eve of the Civil War there were nearly 4 million slaves. Not only did America experience a shift in numbers doing the years of slavery but also a shift in the overall American mindset as well as the culture of the African American. With slaves having been separated from their homes families and cultures they began to merge their traditions and beliefs systems with those of the Masters while attempting to define themselves as African Americans. In the following essay I will discuss and analyze this shift in terms of slavery in the south, blacks in the north and the overall American shifts leading to the Civil War. By the time the country saw the Revolutionary era, there had been more than five gene rations of Africans on American soil and this helped usher in the idea of the African American. Many Africans Americans hoped that the Revolutionary war and the Declaration of Independence would be a stepping-stone to obtaining freedom for them and their families. Unfortunately, this was not the case, â€Å"the age of Revolution ended with a tightening of the Southern slave regime along with an intensification of resistance to slavery (Kelley, 2005, Kindle Locations 133-134)†. Even after the northShow MoreRelatedAfrican Americans and the Civil War774 Words   |  4 PagesEssay African Americans and the Civil War Slavery affected many of the political reasons that contributed to causing the Civil War in 1961. Most in the Northern states including President Lincoln were more concerned with preserving the Union rather than fighting for the freedom of all. On the other hand the South fought to preserve what they believed to be absolute state rights. However the overall goals of the war were altered significantly by the willingness of African Americans during war. ThisRead MoreThe Way We Lived: Essays and Documents in American Social History, by Frederick Binder and David Reimers779 Words   |  4 Pages I have chosen to write about chapter three due to my fascination about the slavery period in our country; the reasons it happened, why it happened, and some of the missing history behind the period. As for the missing history, I have always been captivated be the underlying history that made slavery possible in America. Chapter three delves into the subject that has intrigued me ever since high school, especially how the slave trade came to be, how it was started, and those who actually began andRead MoreEssay on Importance of Slavery to the Southern Way of Life1465 Words   |  6 PagesImportance of Slavery to the Southern Way of Life America almost from the beginning was heavily dependent on forced labour. In 1619, John Rolfe in Virgina reported about the last day of August came in a butch man-of-war that sold us 20 negers. This is the first record of Africans settling in America. The Southern colonies were more dependent on labour then the North, as the climate in the South was ideal for plantation agricultural. In the 17th century the basisRead MoreThe American Civil War858 Words   |  4 PagesThe American Civil War was an event that changed the landscape of America and brought it into the modern era. This transition was facilitated by the separation between the emergence of conflict between the North and South, the civil war that ensued, and what the end of the war meant for America. The resulting conflict had turned a separated America into a more united country as the shift from the bloody war lead to the birth of modern America. Firstly, the conflict was a result of ever increasingRead MoreThe Colonies Of The United States1377 Words   |  6 Pagesof epidemics. Small proportion of slaves were designated for mainland North America. The other majority of slaves landed in Brazil or the West Indies, where the high death rate on the sugar plantations led to a constant demand for new slave imports. This was a cycle which had led many slave to their deaths so the higher ups can make a pretty penny. In the eighteenth century, the numbers of slaves increased steadily. â€Å"Overall the area that was to become the United States imported between 400,000Read MoreSlavery During The American Colonies Essay1537 Words   |  7 PagesSlavery in the American colonies had greatly shaped the nation as we know it to be today. After the discovery of the New World, Spanish conquerors intended to enslave Native Americans, but punishment, overwork, and diseases such as small pox and malaria decreased their population rapidly. The only solution was to kidnap African Americans from their homeland and transport them on ships under poor, unsanitary conditions, many of which died of yellow fever, dysentery, or suicide. Upon arrival, theyRead MoreDear Righteous Reformer Admissions Committee1439 Words   |  6 Pagesand liberty for all, the young land coveted these values for its white majority. African Americans, held in bondage for economic exploitation, were robbed of the principles of dem ocracy and freedom so championed by the United States. This dissonance in American rhetoric was omnipresent, for slavery was a constant and fundamental aspect of life in both the North and South for decades. This duplicity of American equality was not lost on all whites, and a growing sect of reformers arose to combat theRead MoreThe New Land Of America Essay1619 Words   |  7 Pagestrade started to boom when the realization that slavers were cheaper than indentured servants and more abundant. The treatment of the African American slaves was deplorable. They were not treated as human beings but as disposable property. This gave rise to the Abolitionist Movement. The Movement did not gain any traction until â€Å"The American Revolution (1775-1783) and the French Revolution (1789-1799), widely seen as revolutions by citizens against oppressive rulers, transformed this EnlightenmentRead MoreNative American And African Slaves1731 Words   |  7 PagesAs the Native American population had been decimated by genocide and war, England looked to African slaves to provide them with the necessary labor to harvest tobacco. Although African slaves had the same status as that of an indentured servant, African slaves began to become more and more restricted, losing all human and civil rights. These restrictions were placed on African slaves to protect the rights of the indentured Englishmen, and developed a social/political system based of segregation andRead MoreAmerican Civi l War Research Paper1118 Words   |  5 PagesThe deadliest war in American history is known as the American Civil War killing nearly 620,000 soldiers and a mass amount of civilians. The War Between the States was fought between Southern slave states and the United States federal government. Southern states formed a group called the Confederacy, which went against the beliefs of the Union. Jefferson Davis of the Confederate States of America and Abraham Lincoln sought different views on slavery. Lincoln believed that all slaves should be

ASX Corporate Governing Council

Question: What attempt can be made to examine the expectations of ASX Corporate Governing Council? Explain. Answer: In this assignment an attempt has been made to examine the expectations of ASX Corporate Governing Council which requires that the majority of directors who have been appointed to the boards of listed companies should be independent (ASX Corporate Governance Council, 2014). The idea of having a majority of independent directors on the board of listed companies is a relatively new idea. While in the past, it was generally presumed that the board of directors had the responsibility to look after the management of the company and in this process, they were helped by the persons who had special contacts in the industry and those who had specific understanding regarding the industry. However, the widespread incidence of catastrophic corporate governance failures have resulted in the introduction of changes in the policy and regulations and these changes include the requirement that majority of directors on the boards of listed companies should be independent directors (Bezemer et al., 200 7). In this regard, the Corporate Governing Council guidelines have made certain recommendations. These recommendations include the recommendation which provides that majority of directors who have been appointed on the board of listed companies need to be independent directors. The Corporate Governing Council provides in this regard that if a particular corporation would not comply with the recommendations, this fact has to be disclosed by the company in its annual financial report. Therefore, the requirements that have been prescribed regarding the independence of the directors are based on the need for having fiduciaries that do not have any conflict of interests with the company (Bosch, 1991). There are certain factors that are present in this regard and these factors have to be considered when the issue of the independence of directors is being considered. As a result, the interests, associations and the positions as a result of which, a doubt may arise regarding the independence of the directors includes the instances where a particular director was employed in an executive position by the company or its subsidiary during the last three years of the appointment of the director. In the same way, doubts may also arise if the director was a partner or acting as a senior employee. Similarly if the director was supplying material the company within the last three years, the doubts may arise regarding the independence of the director (Brooks, Oliver, and Veljanovski, 2009). Other such circumstances include the instances where the director was having business relations, for example a supplier or a customer or if the director is a major shareholder of the corporation. Other exam ples of such a situation are where the director is having a significant contract with the company or any of its subsidiaries or when the director is having family relations with the person who falls under the category is mentioned above (Coleman and Pinder, 2010). Another example of the situations where doubts may arise regarding the independence of the directors is the case where the person has been acting as the director of the company for such a long period that the independence of such person appears to be compromised. Under these circumstances, the materiality of interests, position or the association has to be evaluated for the purpose of deciding if these matters interfere or reasonably considered to be interfering with the ability of the director to deliver independent judgment while considering the matters that have been put before the board and also if such matters can have an impact on the capability of the directors to act in the best interests of the corporation as a whole (Erkins, Hung and Matos, 2009). It has been mentioned by the Corporate Governing Council that independent directors need not be treated as the members of the management and in the same way, independent directors are also free from business or other reasons due to which, there can be any interference with the independence of the directors. It has been recommended that a director needs to be considered as independent director if such persons holds less than 5% stock. Another requirement related with the independence of the directors is that such a person should not have worked in an executive capacity in the company or any other company that is associated with it during the last three years (Heracleous, 2001). It has been recommended by some experts that the definition of independent directors has been based on fair and reasonable reasons but at the same time, it has to be mentioned that the companies and their shareholders should adopt a pragmatic approach when the appropriateness of a person regarding the appointment as an director is being examined by them. Therefore, a person should not be rejected for being appointed as a director by the shareholders only on the ground that the person lacks independence. It is very important for the shareholders of the company that the constitution of board of directors as a whole, can help in providing good governance to the company (Hooghiemstra and van Manen, 2004). It can also be reasonably expected that the board will be able to further the interests of the shareholders of the corporation. It has also been suggested in this regard that along with the independence of the directors, there are certain other factors that can play a significant role i n this context, like the diversity, skills and experience as well as the effectiveness and the independence of the board. It is also worth mentioning that generally is not an easy task to make this judgment, particularly from the outside (Kirkpatrick, 2009). It will also not reasonably expect they will that any single definition related with the independence of directors can be applicable in all the cases. Therefore, the investors, investor relations experts and fund managers have different views regarding this issue. It is also reasonable to expect that the directors would also have divergent views regarding this matter. Similarly the investors will be impacted by their beliefs and time horizons when considering the independence of the directors (Long, Dulewicz and Gay, 2005). It has been mentioned by Recommendation 2.4 that in case of listed entities, the majority of the board should be of independent directors. Due to the presence of this recommendation, can be expected by the investors and at the same time, the law requires that in case of listed entities, the board of directors should act in the best interests of the company and also keeping in mind the shareholders as a whole. On the other hand, when the majority of directors appointed to the board of the company will be independent directors, it will become very difficult for certain individuals or small groups to have a considerable impact on the decision-making process of the board. As a result, the chances will increase that the decisions of the board reflect the best interests of the company and its stockholders (Lorsch and MacIver, 1989). In such a case, it will also be possible that the decisions taken by the board will not be biased towards the management of the corporation or in favor of any other person or group. Another relevant recommendation in this regard is that in case of listed companies, the chair of the board should also be independent. In particular, this requirement provides that the person holding the chair of the board should not be the same person who is acting as the CEO. Therefore this recommendation is also related with the director's independence in case of listed entities. In t his regard, it is the responsibility of the chair to allow all the directors to effectively contribute and also to promote constructive and respectful relations among the directors and also between the board of the company and its management (Matolcsy, Stokes and Wright, 2004). It is also the responsibility of the chair that agenda of the board meetings should be set up and in the same way, a responsibility has also been imposed on the chair to ensure that adequate time is available for discussing all the items present on the agenda, particularly the matters that are strategically significant. In view of these requirements, it can be said that an independent chair can also contribute in achieving a culture of openness and constructive challenge. In this context, it is required by good corporate governance that there should be appropriate division present between the persons having the responsibility of managing the listed entity and the persons who have been given the responsibility of looking after the managers. But in cases where the same person has assumed the role of the chair as well as the CEO of the company, it will not be very conducive for the board effectively performing its role which requires the board challenged the management and to hold them accountable. Therefore if the chair of the board is not an independent director, the law requires that it should be considered by the listed entity if an independent director can be appointed as the deputy chair (O'Higgins, 2002). The other option available to the entity is related with the appointment of a "senior independent director" who can play an effective role if there is any conflict with the chair. In such a case, even if any shares are owned by the independent director, the presence of a deputy chair or the presence of the senior independent director will allow the board to efficiently review the performance of the chair. Similarly, the situation will also provide a separate channel of communication that can be used by the shareholders and investors (Pye and Camm, 2003). The role that has to be played by the chair is very demanding and as a result, it requires significant time commitment. As a result, it is advisable that the other positions held by the chair should not be of the nature which can cause an obstruction in the effective performance of the responsibilities of the chair. Another issue in case of the Independence of the directors is the tenure and the diversity of the board that needs to be considered at the time of the constitution of the board. For example, it has to be seen if the board is dominated by the directors who have held this position for such a long time and therefore, there is a risk that the directors may have become stale in their ideas. Another issue that needs consideration in this regard is to see if considerable directors with divergent backgrounds are present on the board and in the same way; it is also an important matter to see if appropriate gender diversity is present. Another issue that needs to be mentioned at this point in context of the evaluation of the performance of an entity, regarding its corporate governance practices is that only the share price gains should not be the only relevant factor. The reason is that such situation will be too simplistic. It has also been strongly recommended by several experts that a corporation can achieve long-term sustainability and stability along with profitability if it adopts the good corporate governance practices (Young and Thyill, 2011). In this context, it has been mentioned in the ASX listing rule 4.10.3 that there should be either a corporate governance statement that fulfills the requirements that have been provided by this rule or it should mention the URL of the page of its website. The company has mentioned its corporate governance statement which fulfills this requirement. This rule has been introduced with a view to make sure that the corporate governance statement of the company is capable of disclosing the extent to which a particular corporation has followed the ASX corporate governing Council recommendations. On the other hand, if has not followed a recommendation, it should be mentioned in the corporate governance statement of the corporation and the period during which the recommendation was not followed by the corporation also needs to be mentioned along with the grounds due to which the corporation could not follow the recommendation as well as the fact if the corporation has adopted any alternative corporate governance practice. This matter needs to be decided by the board related with the appropriate corporate governance practice that should be adopted by the corporation. The reason is that the leader responsibility of managing the business has been provided to the board and this responsibility has to be discharged by the board with due care and diligence. It is also the responsibility of the board to make sure that suitable corporate governance arrangements have been put in place. In this regard, the principles and recommendations that have been provided by the corporate governance Council required that the boards of listed entities should consider if any particular recommendation of the Council is not suitable for the company in view of the circumstances and therefore the board can decide that such a recommendation will not be adopted by the company (Young and Thyill, 2011). But if it has been decided by the court that a particular recommendation should not be adopted by it as it is not suitable for the company, it is the responsibility of the board to explain why the particular recommendation was not adopted by it. This approach is known as "if not why not" approach. The purpose behind the introduction of the requirement of making an explanation for not adopting a particular recommendation, is to make sure that appropriate information is being provided to the market in case of the corporate governance arrangements that have been put in place by a company. Such information will help the shareholders of the company as well as the members of the investment community to have a meaningful dialogue with the management and the board of the company. At the same time, such information can be immensely helpful for the stockholders of the company, particularly when they have to make a decision regarding the issue of voting on a particular resolution. This informat ion is also useful for the investors when they are making decisions related with the investment in the securities of the particular company. It can be said in the end that at present the focus of corporate governance is on the role played by independent directors in the board of listed entities. However, the Independence of the directors is not the only factor that is relevant in this regard and as a result, certain other factors like the skills and experience of the directors also needs to be considered. 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