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Corporate Governance and social responsibility assignment fanatasy products.

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Blanche DuBois and Stanley Kowalski both work for Fantasy Products, Inc., a major producer of lifestyle and travel accessories. Blanche works as a clerical assistant in the AccountingDepartment, and Stanley works as a packager in the Shipping Department. During their lunch break one day, they began talking about the company. Stanley complained that he had always worked hard trying not to waste packing materials and trying to perform his job effectively and efficiently. The firm had for many years offered bonuses to employees in the form of shares. This scheme was well-regarded by employees and...

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Question Preview:

Blanche DuBois and Stanley Kowalski both work for Fantasy Products, Inc., a major producer of lifestyle and travel accessories. Blanche works as a clerical assistant in the AccountingDepartment, and Stanley works as a packager in the Shipping Department. During their lunch break one day, they began talking about the company. Stanley complained that he had always worked hard trying not to waste packing materials and trying to perform his job effectively and efficiently. The firm had for many years offered bonuses to employees in the form of shares. This scheme was well-regarded by employees and the community of Belle Reve, where the company’s headquarters and factory were located. In spite of Stanley’s efforts and those of his co-workers in the Shipping Department, the firm's share price had declined nearly $2 per share over the past 9 months. Blanche indicated that she shared Stanley's frustration, particularly because the firm's profits had been rising. She knew that the firm was quite profitable because of what she heard in the Accounting Department. Neither could understand why the firm's share price was falling as profits rose. Blanche indicated that she had seen documents describing the firm's profit sharing plan, under which all managers were partially compensated on the basis of the firm's profits. She suggested that maybe it was profit that mattered most to management, because it directly affected their pay. Stanley said, "That doesn't make sense, because the shareholders own the firm. Shouldn't management do what's best for shareholders? Something's wrong!" Blanche responded, "Well, maybe that explains why the company hasn't concerned itself with the share price. Look, the only profits that shareholders receive are in the form of dividends, and this firm has never paid dividends during its 20-year history. As shareholders, we don't directly benefit from profits. The only way we benefit is for the share price to rise." Stanley chimed in, "That probably explains why the firm is being investigated by State and Commonwealth environment inspectors for dumping pollutants in stormwater drains and the national park wildlife reserve across the road. We all know it’s been going on for years. But, you know, why spend money for pollution control? It increases costs, lowers profits, and therefore lowers management's earnings!" Blanche and Stanley realised that the lunch break had ended and they must return to work. Before leaving, they decided to meet the next day to continue their discussion.

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Blanche Dubois and Stanley Kowalski are working for a Fantasy firm which is a producer of travel and lifestyle accessories. Blanche is working for Accounts Department and Stanley works as a packager in the shipping department. Both meet one day during lunch and start discussing about the company. The company is gaining a lot of profits but value for its share is not increasing. They discuss that since the management meets its salary with the help of profits obtained so the company is not worried about the rise or decline of the share prices which are linked and associated with the value increase and benefits to the shareholders. These employees are the share holders of the company. This company is consistently being audited and investigated for dumping of pollutants in the drains and national parks across the roads. They are not doing anything to control the environmental pollution as it involves investments, increases costs, lowers the profit margins and in turn lowers the earnings of the management. This assignment would discuss on the importance of Corporate Governance and the Social responsibility of the firm towards the society and community as a whole. It has to meet up all obligations towards the society for gaining image in market.

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