Composition Of Board Balance Management Essay

Published: 2020-07-23 11:15:04
3535 words
13 pages
printer Print
essay essay

Category: Management

Type of paper: Essay

This essay has been submitted by a student. This is not an example of the work written by our professional essay writers.

Hey! We can write a custom essay for you.

All possible types of assignments. Written by academics

GET MY ESSAY
Mr. Tjong Yik Min, who is a Singaporean and was appointed as the Chief Executive Officer on 1 June 2010. The company offers its nutrient and drink merchandises included the Yeo ‘s, Cintan, Justea, SoyRich, Isotonic H-Two-O, and Yogurt trade name names. They use the freshest ingredients for their merchandises to keep the quality of their merchandises in order to accomplish their vision which is to be the No.1 Asian nutrient and drink company in Malaysia. YEO ‘s has achieved their vision in soya milk, tea drink and can meat class ; and now they are seeking to accomplish their vision in can nutrient and blink of an eye noodles class every bit good. ( YEO HIAP SENG ( MALAYSIA ) BERHAD, 2011 ) .
There are several chief rivals of this company such as Nestle S.A. , Coca-Cola Co. , Fraser & A ; Neave Holdings Bhd ( F & A ; N ) and some others. The most of import factor that leads to win of this company is their 5C ‘s guiding rules that are non applied by other companies. These 5C ‘s are consumer focal point, category leading, channel direction, cost control and assurance. ( YEO HIAP SENG ( MALAYSIA ) BHD, 2004 )
Corporate SOCIAL RESPONSIBILITY ACTIVITY
Market
Corporate administration
Composition of Board Balance
The board of the company consists of nine members, including two Executive Directors and seven Non- Executive Directors. There is tierce of the Independent Non Executive officer in the board rank. Furthermore, the president is separate apart from the main executive manager. The president is responsible for leading of the board and supervising the effectivity of the company. However, the main executive manager is control over the group ‘s concern such as execution of major schemes where adopted by the member of the board.
Training Program of the Directors
The board of managers of the company attended the relevant plan, seminar and conference in order to update themselves with the new regulative and statutory demands. On 26 of April, they are besides attended the Mandatory Accreditation Training Programme ( MAP ) by Bursa Malaysia Securities Berhad.
Wage of the Directors
The finding of the wage of the Non-Executive Directors is a affair for the Board as a whole. However, Directors are non allowed to take part in determination devising where sing to their ain wage. Stockholders have approved the wage of the managers on the AGM. Besides, the Audit Committee and Independent Non-Executive Directors are paid attendings allowances to be as a board commission.
Stakeholder Engagement
Yeo Hiap Seng ( Malaysia ) Berhad engage in changeless duologue with their stakeholders through Annual General Meeting ( AGM ) and other meetings. Their AGM are in the primary platform for two direct manner interactions with stakeholders and board of the company. They are invariably updating the company ‘s public presentation to the stakeholders such as quarterly fiscal proclamation.
Procurement policies
Keep the Highest Halal Standard Compliance
During the twelvemonth 2011, Yeo Hiap Seng ( Malaysia ) Berhad has committedness with the highest Halal Standard Compliance. This award had proven that the company had contributed a batch of plants on their ingredients, employees and systems in order to keep the most strict of halal criterions in Malaysia. Furthermore, the company adheres to strict hygiene criterions and rigorous quality control in order to guarantee the high quality of all its merchandises to their consumers.
Accountability and Audited account
The Directors of Yeo Hiap Seng ( Malaysia ) Berhad are responsible to guarantee the unity of the fiscal statement and the effectivity of the fiscal controls, hazard direction systems and internal control. Other than that, the managers are besides responsible to guarantee that all fiscal statements are accordance with Companies Act, 1965 and Malayan Accounting Standards ( MASB ) .
Environment
Environmental policy
Reclaimable Resources.
Yeo ‘s has committed and passionate about environmental preservation. Yeo ‘s has become the first nutrient and drink to present their Asiatic Drinks merchandises in Tetra Pak packaging which is environmental friendly and reclaimable.
Set marks for betterments and important enterprises to cut down
Traveling Toward Paper-less
Yeo ‘s has introduced several programmes to upgrade IT substructure which purpose to promote paperless environment through electronic communications and e-filing system. Beside, Distributor Management System ( DMS ) has been introduced and implemented by Yeo ‘s to heighten the attempt of paperless environment.
Workplace
Health & A ; Safety ( H & A ; S ) issues
Committed to Hazard Free Zone
Yeo ‘s has dedicated to afford a safe, healthy secure and conducive workplace for all the visitants, employees and concern stakeholders. The promise to the effectual execution of Occupational Safety and Health Policy has achieved a hazard-free work zone. Yeo ‘s has organized different communications activities and runs to corroborate the employees ‘ consciousness of safety safeguards.
Human capital development
Continue to Construct Human Capital
Yeo ‘s has entrust to supply a supportive on the job civilization for the company ‘s employees through preparation and development programmes. During the twelvemonth 2011, the employees have participated in external preparation programmes and assorted in-house from technical-related accomplishment to soft direction accomplishments. Yeo ‘s expected to convey up the hereafter work force of their industry ; hence, Yeo ‘s continues to welcome the housemans of short-run fond regard to finish their grade demands.
Employee public assistance
Employee benefit
Yeo ‘s purpose to enrich the public presentation of staff throughout staff acknowledgment strategies, offering equal chances, preparation and development and making sound employees ‘ dealingss. Every twelvemonth, in recognition of the loyal, devoted and committed employees, Yeo ‘s has pleased and rewarded the long service employees at its Annual Dinner and Dance.
Community
Detailss on the company ‘s community investing enterprises
Yeo ‘s Program Susu Soya Sekolah 2
Yeo ‘s initiated a corporate duty run, Yeo ‘s Program Susu Soya Sekolah ” in twelvemonth 2010 and received positive feedbacks from public. Therefore, Yeo ‘s continued this enterprise with Yeo ‘s Program Susu Soya Sekolah 2 ” . This run covered another 100 schools and reached out to another 50,000 pupils with an purpose to transfuse the importance of a balanced diet and in educating the pupils on continuing the environment through recycling.
Yeo ‘s Scholarship Programme
Students from 51 primary schools in the Klang Valley and Putrajaya took portion in the Yeo ‘s Program Tajaan Biasiswa Sekolah ” backed by the spirit of enthusiasm and doggedness.
Yeo ‘s logo from empty drink battalions was collected by pupils to fight for the scholarship. Yeo ‘s achieved their primary aim in puting a platform for pupils to exert creativeness and job resolution accomplishments through this programme. It besides promotes the spirit of esprit de corps amongst pupils and instructors to work towards accomplishing the school class scholarship for school development fund.
1Malaysia Creative Sculpture Recycling Competition
Yeo ‘s support the 1Malaysia doctrine by embarked on its green and singular 1Malaysia recycled sculpture competition among all take parting schools of Yeo ‘s Program Susu Soya Sekolah ” utilizing Yeo ‘s reclaimable stuffs. It is to promote the immature ‘s creativeness and raising recycling mentality. Yeo ‘s awarded the winning schools each with school development fund to back up the development and extra-educational activities at school degree in order to acknowledge their attempt in this competition.
My New Village ” Carnival
Yeo ‘s united Nanyang Siang Pau in My New Village ” Carnival for three back-to-back old ages to make out to smaller communities and small towns. Yeo ‘s contributed portion of its gross revenues generated from the carnival to the schools in those small towns to back up their infrastructural and installations constructing fund. Besides that, Yeo ‘s besides embarked on Embellish Your Village with Yeo ‘s ” in which the participating small towns has collected, cleaned, and recycled Yeo ‘s reclaimable stuffs to embroider a selected topographic point in the participating small towns. Furthermore, Yeo ‘s has besides shared cognition of originative recycling through merriment and synergistic games.
Dynamic Dance Competition
Yeo ‘s in coaction with China Press, organized a national dynamic dance competition in line with Lead a Joyful Life ” run. The chief aim is to promote the communities to populate and take a healthier and joyful life style.
Support of World Vision Malaysia Movement
In order to raise fund for World Vision Malaysia ‘s motion, Yeo ‘s has supported 30-Hour Famine plan through the sponsorship of soy milk to single cantonments. It is to assist those who are enduring from poorness and hungriness, giving them the chance for improved wellness, better quality life, and hope.
Factory Educational Visits
Yeo ‘s continues its enterprise to welcome the local and abroad colleges and universities to heighten pupil ‘s cognition about the nutrient and drink fabrication procedures.
AUDIT PROCEDURE
Environment
Environmental policy
Reclaimable Resources
The audit process that will be taken was ask the direction to acquire more understanding on the construct of Tetra Pak packaging utilizations in nutrient and drink ‘s merchandises and the item information of processing and packaging.
Beside, physical observation on the procedure of packaging should be carry out to guarantee quality control on the packaging done clip to clip and full procedure was follow the company policies and process.
Furthermore, As an hearer, we should obtain Quality Control Report from the direction and reexamine study from independent adviser as an grounds whether the Tetra Pak packaging implement by Yeo ‘s is environmental friendly and reclaimable.
Last, any enfranchisement from relevant authorization should be obtain from direction.
Set marks for betterments and important enterprises to cut down
Traveling Toward Paper-less
Yeo ‘s has introduced several programmes to upgrade IT substructure which aimed to promote paperless environment. Hearers should ask the direction on whether the Distributor Management System ( DMS ) is implemented and map efficaciously by Yeo ‘s.
Observation carry out to find whether the system helps to heighten the attempt and work efficaciously such as bettering the dependability and quality of service in footings of cut downing outages, minimising outage clip and diminishing the utilizations of paper.
Besides, verification from independent IT adviser on the effectivity of system should be obtain as an grounds.
Servicess Report of DMS should necessitate from the direction to verify whether update and betterment on system have been carry out seasonably to guarantee the system map efficaciously and expeditiously.
Workplace
Health & A ; Safety ( H & A ; S ) issues
Committed to Hazard Free Zone
The audit process taken is reexamining the term of policy. The Occupational Safety and Health Policy were implemented to carry through a hazard-free work zone. In effect, we should reexamine the term of Occupational Safety and Health Policy to do certain the visitants, employees and concern stakeholders be familiar with the policy clearly and pay attending to safety and wellness.
Besides, study for the activities and run that held by Yeo ‘s and the feedback of the employees should be obtain to execute look intoing whether the activities and run have enhance employees, clients, and other stakeholder ‘s consciousness of safety n wellness.
Furthermore, verification should be obtain from related authorization if there is any certification that awarded by the society.
Human capital development
Continue to Construct Human Capital
The audit process that will be carried out is inquiry. Yeo ‘s has entrust to supply a lovingness working civilization for the company ‘s employees over and done with preparation and development programmes. We have a responsibility to ask the employees on whether there is any programme or activities being performed by Yeo ‘s.
Other than that, we have to ask and corroborate that what accomplishments will be used, learned and will boot the hereafter work force through the programmes.
Furthermore, verification should be obtain from external specialize or processor who in-charge for the programmes to guarantee the dependability of the information.
Last, we should reexamine the plan ‘s study of each map to guarantee that every employee have involved.
Employee public assistance
Employee benefit
The audit process that we applied is reappraisal of the record of employees. We should reexamine every employees detail and observe whether period of service have been recorded clearly.
Inspection and scanning on the employee public assistance policies should be carry out to analyze whether direction have perform consequently.
Community
Detailss on the company ‘s community investing enterprises
Yeo ‘s Program Susu Soya Sekolah 2
The audit process demand to be done is obtaining verification from 3rd parties. We have obtained a verification from Yeo ‘s Program Susu Soya Sekolah ” which received positive feedbacks from the populace.
We besides inquire the direction and pupils of some of the schools that involves about their engagement in this run. We can do certain that the being of Yeo ‘s Program Susu Soya Sekolah 2 ” .
Yeo ‘s Scholarship Programme
The audit process that we carried out is review on the paperss that related to Yeo ‘s Program Tajaan Biasiswa Sekolah ” and checked the activities that have been done by Yeo ‘s to accomplish their aim.
We besides executing the calculation on the sums that being given as scholarships to guarantee that the sums are non used for other intent.
1Malaysia Creative Sculpture Recycling Competition
The audit process to be done is obtaining verification from the winning schools whether they receive the fund from Yeo ‘s.
Following, analysing hard currency flow and net income of Yeo ‘s. We checked whether the fund is a hard currency escape for Yeo ‘s and being minus out from its net income.
My New Village ” Carnival
The audit process carried out is inquiry Yeo ‘s whether has participated in My New Carnival ” with Nanyang Siang Pau.
Besides that, we need to acquire verification from Nanyang Siang Pau about the being of the carnival and engagement of Yeo ‘s.
We should corroborate the gross revenues generated from the carnival have been contributed to back up the schools ‘ infrastructural and installations constructing fund.
Dynamic Dance Competition
The audit process done is review on the paperss which related to the run and checked the activities done by Yeo ‘s to promote communities to populate and take a healthier and joyful life style.
Support of World Vision Malaysia Movement
The audit process carried out is obtaining verification from 3rd parties about sponsorship of soy milk in 30-Hour Famine Programme. We have obtained the verification missive from the single cantonments about the sponsorship to them.
Factory Educational Visits
The audit process demand to be done is obtaining verification from colleges or universities about their visiting.
Besides that, we should detect the method done by Yeo ‘s to heighten pupils ‘ cognition about the fabrication procedure of nutrient and drink.
WEAKNESS AND RECOMMENDATION
Environment
Yeo ‘s does non hold measuring systems
The company does non implement the measuring systems in topographic point to mensurate emanations of C dioxide and other nursery gases, energy ingestion, H2O ingestion and waste production and direction which will harm the environment. The illustration for the measuring systems is Continuous Emissions Monitoring Systems.
Recommendation
Yeo ‘s should implement Continuous Emissions Monitoring System, a tools to supervise and cipher the C footmark of shops and better public presentations. Besides, internal control policies should be set up for the environmental concern to step and cut down the direct and indirect emanations deducing from their operations in shops. Yeo ‘s can heighten the attempt by implement the environmental and energy direction systems, making knowledge-based strategies within the company.
Yeo ‘s does non carry on environmental impact appraisal
In Section 34A, Environmental Quality Act, 1974, it requires the undertakings that have important impact to the environment have to transport out the Environmental impact appraisal and subject the study to the Director of Environmental Quality for scrutiny.
Recommendation
EIA is an appraisal of the possible positive and negative impact that a proposed undertaking may hold on the environment, societal and economic. Therefore, the environmental impact appraisal should be conducted by Yeo ‘s for forestalling environmental jobs due to their concern operation. Undertakings which bring the damaging effects to environment will be discarded. The elements that will be assessed by EIA undertaking are H2O quality, noise, air quality, wealth and other societal impacts. Last, when EIA integrated with the bing planning and decision-making machinery, it could provides extra information for better determination devising.
Workplace
Yeo ‘s does non implement the work-life balance
Use a better work-life balance to guarantee that the employees have good quality of life. Nevertheless, Yeo ‘s company is non exerting the work-life balance. It does non offer the flexible on the job agreements, pension programs, reding or aid programmes and athletics activities for the employees.
Recommendation
Yeo ‘s should construct up reding service at the workplace and athletics activities for employees. If a concern environment is filled of challenges, employee will easy acquire nervousness and nerve-racking all the clip. Provided the guidance service, it can help the employees to cover with the emphasis and mentally job. Due to that, employees with a good physically and mentally status will easy cover with the occupations job and impart a manus company to carry through a superior public presentation.
Yeo ‘s does non cultivate diverseness in workplace
Having cultivate diverseness in workplace is indispensable because it brings a great trade of originative suggestion, new thought and inventions from people who are in different background and different experience. Other than that, it may besides convey a diverse pool of campaigners ‘ means a more qualified work force. Unfortunately the company does non work on the diverseness in workplace this is because Yeo ‘s does non use people with disablements.
Recommendation
We recommend that Yeo ‘s should supply equal chances to people with disablements. Discriminatory instance on gender, races, nationality and physical ability should be avoided. We should affect everyone one of your employees to help in accomplishing organisational ends and aims irrespective of race, coloring material, gender, ethnicity, age, faith, disablement, or national beginning. Learn to appreciate the alone differences in all persons. Yeo ‘s should measure them based on their makings and the accomplishments they possessed but non rejecting them even before they are been interviewed. Furthermore, Yeo ‘s may supply diverseness preparation and choice diverse persons for leading functions.
Community
Employment of local work force in its operation
Yeo ‘s does non merely engage local workers in its operation but besides employ low-skilled foreign labors. Although it will cut down the disbursals of company as the rewards are low but it will make unemployment for the local workers. Furthermore, it will do a low productiveness since they are low-skilled and unable to execute some undertakings that need professional accomplishments. It needs developing for them to execute those occupations which will incur extra cost.
Recommendation
We recommend that employment of local work force to be carried out non merely in direction country but besides the fabrication country. The salary and public assistance of employees should be discussed and betterment should be done to guarantee that local work force to be employed and cut down foreign labor. An endearing public assistance system may assist to pull more local work force to work in the company.
Internship or alumnus arrangement strategies
Yeo ‘s does non pattern internship or alumnus arrangement strategies. An internship can supply trainee to larn the accomplishment to manage the occupations and derive some experience before they enter into workplace in future. A graduate arrangement can assist the fresh alumnuss in their future calling chances as it builds the assurance and acquire relevant work experience. However, Yeo ‘s does non offer the internship and alumnus arrangement strategies for the community.
Recommendation
Internship or alumnus placement strategy should be provided by Yeo ‘s to community. Yeo ‘s can offer university pupils to hold their internship in company. This can develop undergraduate pupils to hold more cognition about this sector every bit good as accomplishments and experience in the company. Besides that, Yeo ‘s can offers scholarship to college or university pupils. The scholarship enables pupils to salvage their costs for instruction disbursals. By making so, pupils will hold the chance to work in the company after they graduate.
Promoting employee volunteerism
Yeo ‘s encourage its employee to voluntary involve in activities that contribute to society. Employee volunteerism to the community is ever appreciated by the company. The employees of Yeo ‘s are non unite and do non endeavor every bit much as possible in their work and take to low productiveness.
Recommendation
The company should set more attempt in promoting employees ‘ volunteerism in its CSR activities. An Employee Volunteerism programme should be developed by the company to pull employee engagement. Employee volunteerism is of import for a company as it can better the public presentation of employees in their plants, heighten the company ‘s image and repute and increase the employees ‘ trueness. For illustration, company can promote employees to portion their accomplishments and endowments by lending their clip and energy voluntarily towards society through contribution run, charity undertakings and fund-raising events.
Decision
Presents, CSR is going an of import activity to the concern nationally and internationally. It is a scheme for corporation or companies to carry on their concern ethically, society friendly and good to community, workplace, market place and environment in footings of development. Yeo Hiap Seng ( Malaysia ) Berhad has done a batch of CSR activities so that this can assist in differentiate themselves from the rivals and better their concern repute and standing in the market. Furthermore, this can besides supply entree to investing and support chances.
By executing the audit processs which are used to verify the CSR activities, it can do certain that their company ‘s missions, ends, and aims are achieved efficaciously and expeditiously. In add-on, it can better their internal operations and edifice relationships among their clients. However, Yeo ‘s should transport out those activities that did non practiced, so that they can beef up the company and compete for more new concerns.

Warning! This essay is not original. Get 100% unique essay within 45 seconds!

GET UNIQUE ESSAY

We can write your paper just for 11.99$

i want to copy...

This essay has been submitted by a student and contain not unique content

People also read