TOPIC: CORPORATE STRATEGY AND GOVERNANCE IN HEATH AND SAFETY ISSUES
Student University: Buckinghamshire new university
Student name: Raj shaileshkumar patel
Student Id- 22106791
The governance structure of an organisation offers a framework for the distribution of duties and resources to achieve the company’s goals, whereas the corporate strategy of an organisation provides the blueprint that guides the business’s corporate orientation. Both of these factors are essential to the effective operation of an organisation (Reyes, 2022). Corporate governance specifies the allocation of duties for risk management within an organisation and determines the procedures to be utilised for risk management at each level of the organisation.
The board is responsible for developing communication channels with management that will assist management in fulfilling these responsibilities. Corporate governance is a topic that affects numerous business types. This includes health and safety. The board of directors should include health and safety concerns into the key governance frameworks, such as the board’s risk, compensation, and auditing subcommittees. Governance in the corporate environment is defined as “the structure by which corporations are directed and controlled,” and the goal of corporate governance is to “allow effective, entrepreneurial, and responsible management capable of achieving the organization’s long-term success.”
The aim of this research is:
“To analyse the health and safety issues in the corporate strategy and governance practices: Case analysis of Kia”
The research objectives mentions as follows:
To analyse the concept of corporate strategy and governance in business.
To evaluate the safety and health issues faced by Kia in implementing the corporate strategy and governance practices.
To identify effective measures for minimising the health and safety issues in Kia.
The research project mainly determines about the various health and safety issues faced by Kia. The most recent Kia model, the Carens, is a seven-seat multipurpose vehicle (MPV). It was examined in its most basic version, which consists of six airbags (two frontal, two side body and two head protection airbags). The vehicle’s six airbags did not greatly improve its safety rating, casting question on the effectiveness of the government’s proposed rule mandating six airbags in all vehicles (Guerin, 2022). The Carens was rated three stars for the safety of both adult and child passengers. This was primarily owing to structural integrity difficulties with the vehicle; nonetheless, the chest and feet of the driver received limited protection.
The sole second Kia vehicle assessed, the Kia Seltos, received the same three-star rating as its predecessor for the identical reasons. Kia Motors entered the Indian market with the Seltos, which was a tremendous success despite receiving only three stars in the government’s car safety rating system. On international markets, the Seltos has performed better in terms of safety parameters. Five stars were awarded by the Australasian New Car Assessments Programme (ANCAP) to a South Korean-made Seltos that was imported directly to Australian markets. This grade was determined using the Seltos employed in the ANCAP evaluation. The European New Car Assessment Program (Euro NCAP) awarded the company’s other best-selling vehicles, including the Kia Sorento, a flawless score of five stars.
In accordance with the viewpoint of Mahmoudian and Jermias, 2022, Kia India stated in a press release that “the company undertakes periodic inspections and comprehensive testing of components in accordance with Kia’s global standard.” The company has decided to recall the vehicles voluntarily for inspection, and if necessary, a software upgrade will be provided at no additional cost. The corporation took this move as part of its efforts to be a responsible corporate citizen. They claim that this is part of their plan to provide each and every consumer with an amazing experience. Kia India has announced that it will personally contact Carens car owners in order to inform them of the recall issue. This action is being taken to ease the recall process. As soon as possible, impacted Kia Carens owners would be required to schedule an appointment at one of the authorised Kia stores in their area. Additionally, customers can contact the official Kia call centre, visit the official Kia India website, or utilise the official Kia app.
It has been critiqued by Park et al. 2022, Environmental awareness, ethical conduct, business strategy, risk management, and compensation are some of the subjects covered by corporate governance. Accountability, transparency, fairness, accountability, and efficient risk management are the pillars of excellent corporate governance. Good corporate governance aims to make it simpler for a firm to have efficient, entrepreneurial, and judicious management so that the business can be successful over the long run. Corporate governance refers to the process through which businesses are governed and monitored. Boards of directors are responsible for the entire administration of their respective companies.
In order to conduct this research project in the most efficient manner feasible, the assessment will employ the primary research approach. Through the use of interviews, this research methodology will provide understanding on relevant concepts pertinent to the research issue. In addition, this research discussion employs qualitative analysis, which requires the application of numerous diverse ideas and concepts in order to produce accurate results (Walters and Wadsworth, 2022). In addition, exploratory research discussion is conducted in order to do this study effectively.
This is done in the context of evaluating primary data in order to acquire reliable results. These strategies contribute to a greater comprehension of the obstacles Kia encounters in terms of health and safety. Additionally, this can aid in gaining clarity regarding the research topic. These methodological strategies are beneficial in In addition, by correctly applying these research methods to this research project, it is feasible to gather dependable data that may be used to draw appropriate conclusions about the research project.
The Gantt chart for the research is mentioned as follows:
(Source: Gantt chart)
Books and Journals
Guerin, T.F., 2022. Roles of company directors and the implications for governing for the emerging impacts of climate risks in the fresh food sector: A review. Food Control, 133, p.108600.
Mahmoudian, F. and Jermias, J., 2022. The influence of governance structure on the relationship between pay ratio and environmental and social performance. Business Strategy and the Environment.
Park, J., Montiel, I., Husted, B.W. and Balarezo, R., 2022. The Grand Challenge of Human Health: A Review and an Urgent Call for Business–Health Research. Business & Society, p.00076503211073519.
Reyes, L.G., 2022. Philippine private sector response, strategies, and state-business relations toward economic recovery and growth post-COVID-19. Business and Politics, 24(1), pp.18-35.
Walters, D. and Wadsworth, E., 2022. Arrangements for workers’ safety and health in container terminals: Corporate core values and concrete practice. Economic and Industrial Democracy, 43(1), pp.303-321.