Corporate Governance | Assignment Help
Introduction
The challenges faced by the international banking industry are related to survival in highly competitive financial sectors and improve the quality of services and products to attain customers’ satisfaction (Johnson & Scholes 2012). Apart from the achievement of financial and economic targets, the concerns for environmental protection and betterment of society are also rising in the international banking industry. The advancement of environment concerns, hazards of rapid industrialization to human and the planet’s environment, and responsibility of a sustainable business are some important considerations. As Afsharipour (2011) added that expectation of the banking sector to fulfill the responsibility of internal and external stakeholders have been increased in recent decades. Hence, apart from providing competitive services to customers, the concerns for employees, stockholders, community, and other stakeholders is one of the main considerations of corporate governance in banks (Das and Ghosh, 2004). Best ASX Corporate Governance principles Assignment Help by Top Writers in Australia
This paper is based on the proposal of a tentative research in the areas of corporate governance and sustainable banking practices in Australia. The challenges and issues faced in implementing the sustainable and responsible business practices of large private banks of Australia will be undertaken in view of the corporate governance framework. The research will evaluate the necessary corporate governance measures needed by the private banks in Australia to fulfill the responsibility and sustainability in the areas of environment, social, people, and ethical business activities.
This paper is organized in three major sections and sub sections. The first section of introduction deals with the brief introduction of topic, problem statement, aim and objectives, research questions and rationale of this research. The second section is comprised on the conceptual framework and development of hypotheses. The last section entails the research, tentative research methodology discussion for the proposed research. Gantt chart and research budgeting are also components of the methodology.
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Problem Statement
The notion of corporate social responsibility (CSR) has derived the attention of management to target business practices in a wide spectrum of ethical concerns. The companies and corporations are now required to show the progress towards attainment of balanced goals of shareholders and other stakeholders in society (Shalman 2010). The external issues like recent financial recession have also affected the banking operations around the globe. The recession of 2008-9 has dropped share markets, shaken the trust of stockholders and customers, unemployment and restructuring in the banking sector of US and Europe, and decline in investment and mortgage financing sectors have impacts on the global banking industry (Amadeo, 2015).
In this scenario, the analysis of the impact of sustainable and responsible business practices on corporate governance frameworks of banks is important. The study will provide a comprehensive evaluation of the role of banks in improving the customers as well as community and society states to uplift the standards of living. The policies of banks towards stakeholders will define the role of corporate governance in the evolution of sustainable business practices in the banking industry of Australia. There are very rare studies found in this area apart from major researches on the banking industry of UK and US (Hansen 2011).
Objective of the study
Aim of Research
To evaluate the relationship of corporate governance and sustainable business practices and their impact on social, environmental, and ethical aspects in Australian banking industry
Secondary Objectives
- To evaluate the literature related to corporate governance and sustainable business practices in the banking sector.
- To evaluate the consumers and employees perception about the sustainable business practices of Australian banks
- To determine the relationship of corporate governance and sustainability performance of Australian banks
Scope of the study
The scope of the proposed research will be limited to the four main players of Australian banking sector Australia and New Zealand Banking Group (ANZ), National Australia Bank (NAB), Commonwealth Bank of Australia (CBA), and Westpac bank. The corporate governance practices in post recession stage from 2009 till present are considered with their impact on the sustainable and responsible behavior of these banks. The perceptions of employees and customers will be considered as the performance indicators of these banks in the concerned areas.
Rationale of the research
The survival from recession has also affected the consumers trust level and banks attend to secure stable positions. The huge losses to the world’s large banks and high unemployment in this sector had turned into bankruptcy of some countries like Greece and Iceland (Sharma, et al., 2011). In this scenario this research is very important to analyse the issues and challenges faced by four largest banks of Australia. The feedback from employees and customers will add in the information to be collected from employees and customers. The other benefits of this research can be the ways in which banks services and initiatives of CSR affected the perception of consumers and employees. The role of board of governors, managers, and employees will be clarified in deciding the role of banks in the society. The research is also important to describe the underlying issues in the Australian banking industry related to ethical banking practices.
Expected Research Outcome
The expected research outcome will define the nature of relationship and dependence background of corporate governance on CSTR and sustainability initiatives of Australian leading banks. The role of directors, managers, and employees will be clear and the perceptions of customers will be used to determine the actual performance of these four leading banks in Australia.
