Golden Key Scandal

Introduction The apparent conflicts between the legal and moral right of the managers and their proclaim role as collective stakeholders are preponderant in todays corporate world. The recent corporate break off of the Golden place commendation association modified which was a subsidiary of the Ceylinco Consolidated, one of Sri Lankas oldest and largest furrow 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 come upon Credit Company modified with regard to the Clarksons principles of stakeholder management. It highlights the significance of the seventh principle of stakeholder management, as an effective guideline to address some(prenominal) of the issues arising from these conflicts. Summary Golden Key Credit Company Limited was a fully possess subsidiary of Ceylinco Consolidated, one of t he largest occupancy conglomerates in Sri Lanka. It was a monetary institution which pioneered the faith founding loosen industry in Sri Lanka in the early cardinal eighties and was responsible for setting-up the initial merchant network that has instantly expanded and is currently utilized by intimately wholly the creed card operators in Sri Lanka.

In addition to progeny a variety of domestic credit tease the guild 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. According to t he Golden Key scheme, which was a landmark o! rganization when it started, credit cards were provided on deposits and credit could be move back based on the deposit. This approach was almost similar to the debit card practice followed by banks. what is more the company original public deposits offering higher by-line rates ranging from 24% to 28.5% per annum without being a licensed financial institution ratified by the Central Bank of Sri...If you insufficiency to get a full essay, order it on our website: BestEssayCheap.com

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