Governance regulations and ethics paper Essay Example | Topics and Well Written Essays - 3000 words

Governance regulations and ethics paper - Essay Example The financial crisis was considered the worst global crisis since the great economic depression. Many economists also perceived the financial crash as the worst in the economic history. The film under study is based on the most extensive research and exhaustive interviews with key financial insiders, politicians and journalists. Many academicians from different fields of knowledge were also included in the research to give their views on the subject. The film analyzed is based on the rise of a rogue industry, which has corrupted politicians, professionals, academicians, and regulators. The film unearths the 2008 global financial crisis that shook the entire global economy since the effects of this depression was felt either directly or indirectly in every sector of the economy. Arguably, the film portrays the financial crisis as a result of poor financial planning, forecasting and greed among some powerful individuals to amass wealth and enrich themselves. In fact, it is through such corruptions among certain powerful individuals, which shook the entire economy that the world is still yet to recover and recoup the financial losses. Definitely, this will take the country a lot of time and resources before it is restored to its former economic status (Furmston and Chuah 67). On the other hand, the entire globe still battles with the implementation of viable and some of the most appropriate economic policies, which steer economic development. Therefore, a lot of funds are required to be invested in the economy to promote economic growth and development. The UK corporate code of governance is also a crucial document that is very important in examining the elements of this case. Precisely, the corporate governance code 2010 was devised in a mid of the financial that shook the entire economy. This economic depression triggered a financial panic and suffering in the country and globally. The main aim of the UK corporate code was to investigate and monitor the performa nce of the listed companies and banks. This code has other aims and objectives as well. The corporate code was intended to facilitate effective entrepreneurial and prudent management for corporate governance to enable a company establish some sound management policies and guidelines, which can deliver the long term success of the entity. From the analysis of Nelson’s book, it is evidenced that good management principles and practices are essential in promoting the growth and development of the economy (Nelson 42). Moreover, the UK corporate code acts as a guide to a number of key components, which are involved in effective and sound governance. The code is based on good governance and transparency, accountability and focus to the core objectives and goals of various business entities. Importantly, the focus is on the long term entities of the corporations. The code aims to help the board of governance discharge their duties on the best interests of the company. In the review, the code saw few, but some significant changes in the â€Å"tone† of the code that guides the general behavior of the board with the hope that these changes help in promoting some clarity and understanding. In regard to the task of the board, and ensure there is efficient and effective communication with various stakeholders (Woodroffe 56). Furthermore, the code aims to ensure there is proper accountability and reduce underpin board ineffectiveness by encouraging that all the