Explain the term corporate governance

2. Explain the importance of the “King I” and “King II’ reports.
3. Why do corporations need a board of directors?
4. What is the value of adding “outside directors?”

Exercises (20%) approx. 250 words

1. Which is more important to effective corporate governance: an audit committee or a compensation committee? Why? Explain your answer.

Case Study (40%) approx. 400 words

 (Must have access to Book: Newton,Englehardt, Prichard (2012). Taking Sides: Clashing Views in Business Ethics and Society, 12^th/E. McGraw-Hill ISBN: 9780073527352)

Review issues 4, 8, 9, 12, and 13 from Taking Sides. Choose one issue to respond to. Which viewpoint do you side with? Why? Explain. Reference at least two outside resources that further support the viewpoint you side with.