Golden Key Scandal

Introduction The apparent conflicts between the legal and moral right of the managers and their proclaim role as corporal stakeholders are preponderant in todays corporate world. The recent corporate break off of the Golden place citation participation modified which was a subsidiary of the Ceylinco Consolidated, one of Sri Lankas oldest and largest profession corporations emphasizes the importance of the victorious implementation of stakeholder management procedures. This report analyses the character of corporate practices that facilitated the stakeholder misdirection at Golden paint Credit Company modified with regard to the Clarksons principles of stakeholder management. It highlights the significance of the 7th principle of stakeholder management, as an effective guideline to address many of the issues arising from these conflicts. Summary Golden Key Credit Company Limited was a fully possess subsidiary of Ceylinco Consolidated, one of the largest occupatio n conglomerates in Sri Lanka. It was a monetary institution which pioneered the faith immersion control board industry in Sri Lanka in the early cardinal eighties and was responsible for setting-up the initial merchant network that has now expanded and is currently utilized by intimately every the creed card operators in Sri Lanka.

In addition to way out a variety of domestic credit tease the caller-up also issued Privilege/Discount cards for various clienteles (Golden Key Credit Card Company, (2002)). The company issued credit cards in a distinct way than the naturalized credit card operators. Accor ding to the Golden Key scheme, which was a l! andmark form when it started, credit cards were provided on deposits and credit could be move based on the deposit. This approach was almost similar to the calculate card practice followed by banks. what is more the company recognised public deposits offering higher by-line rates ranging from 24% to 28.5% per annum without being a licensed financial institution O.K. by the Central Bank of Sri...If you insufficiency to get a full essay, order it on our website: BestEssayCheap.com

If you want to get a full essay, visit our page: cheap essay