Busn 210 - Jack Wright Series

Introduction:

The Jack Wright series 4 talks about the underlying issues within the organization that had arised after Jack had joined the organization. The board consisted of many issues which include risky hedging strategy, lack of discussion at the board meetings, timelessness of meeting agendas, capital expenditure brought to the board, and key performance date not delivered to the board.

problem
The main issue in the case is how does the board maximize the effectiveness through fiduciary strategic and generative practices? through evaluation and thorough consideration we believe that the board lacks effectiveness and stratgies used to stirke any issues and or problems that may arise during the operation of the organization. The systematic system the board uses it old style, and revolves around the chairmans personal work methods: therefore lacking the fiduciary stratgies needed when commencing solutions for the organization.

Analysis: #1 internal audit
the board lacks in many aspects and internal auditing is one of them. if internal auditing can be implemented, it will allow for easy and efficient methods to identify risk (hedging, SOX) 
#2 regular board/board process
regulating the board memebers and the creating their own respective roles while creating challenge to keep a competitive advantage. 
board processes include all nessecary precautions and things that needed to be done when active. this includes keeping track of the agenda, discussion, timelyness and information that is shared amongst the board.

ALTERNATIVES: #1 
mega corporation implements and incremental change to the governance process 
- to determine basic rolds & repsonsibilities of the board
-to develop basic process required of the board of directors

pros:

easy to implement 
cost effective
face less resistance by current board
current board would be better able to handle

cons:
may not have any buy in the COB & the board 
current problems and issues of the company do not seem to phase the BOD to improving the governance process

ALTERNATIVES #2

mega corporation should implement a complete overhaul of the governance structure and process
-determine basic roles & responsibilites of the board
-develop basic processes required of the board of directores
-develop charters for cimmittees
-develop rols & responsibilites for committees
-develop basic processes required for the committess

PROS:

the company badly needs to completely reform the whole governanve prcess to better meet the pressing needs of the company 
the changes would result in more substantive improvements in the results of the organization 
the market and the company will see that the BOD is trying to better deal with the current problems of the company.

CONS:

the board may not be able to deal effectively with all the changes proposed. 
the board may not buy in with all the chnaged required 
this will be more costly and time consuming to implement 
the board may not have thatmuch time to really deal with the amount of change required.

Recommentdation: 

        We recommend that the BOD should do a slow process of seeking out the problems that lie within the BOD and the responsibilities they bare. Develop a  process to work against problems that have arised and come up with solutions for future reference and seek feedback on what could be done better.