Corporate Governance of BINGO - Assignment Help

Executive Summary

The main aim of this report was to carry out corporate governance outlook and orientation assessment of BINGO’s board. The reasons of carrying out this assessment is based on the notion that board might adopt different orientations to address the concerns of either only shareholders or both stakeholders and shareholders. The report has shown that independent directors are more than non-independent directors and the board adopts ethicality stance for managing its stakeholders. The focus of board is on management of all stakeholders and communication is mainly done through annual reports, sustainability report and director’s report. The company has entered into a social contract with society, and it contributes in development of community through social and environmental initiatives. 

Introduction

Ethicality and transparency are most needed aspects of board of directors of any business which makes them corporate governance effective. Given the importance of ethical corporate governance, the underlying report is aimed at analyzing corporate governance outlook and orientation of board of BINGO. The research is done through annual report, content on website of company, sustainability report and media release of BINGO. Mainly, the stakeholder theory and legitimacy theories are applied to assess outlook, orientation and communication of board of company. The compliance of board’s communication and reporting is found with ethical branch of stakeholder’s theory, which shows that board of company is ethically orientated. Moreover, the outcomes provided evidence that legitimacy theory is followed in communication of company. 

Introduction and Background of Company

Bingo has started as small family retained skip bin business, based in Western Sydney, Australia. In 2005, it was purchased by Tony Tartak, who has developed it into more sophisticated waste management company, which is considered as provider of solution across entire waste management supply chain (Bingo Industries, 2019b). The key activities of Bingo include; collection, processing, recycling and disposal of waste, from both industrial and commercial settings. BINGO has initiated is journey with 4 trucks and 100 bins and now it possesses fleet of around 250 vehicles which are engaged in offering high quality services to around 18000 customer on yearly basis (Bingo Industries, 2019a). The core vision of BINGO is to foster establishment of waste free Australia, which follows goal of 100% diversion of waste from landfills. The company is engaged in advancing technologies through which it can enable diversion of maximum waste from landfills and can aid in creation of circular economy (Caputo, 2016). The strategic intent of company is aligned with international best practices of waste management and it holds significant placing in waste management industry. The focal industry of BINGO is facing substantial responsibility in terms of sustainability and environmental protection, as its faithful operations can enable the achievement of sustainable and environmentally responsible society.