Professional Documents
Culture Documents
Assignments - Business - Ethics - Governance-and-Risk
Assignments - Business - Ethics - Governance-and-Risk
Good business practises incorporate ethics. They are responsible for providing excellent
customer service, maintaining the company's reputation, and attracting the best
employees and business partners. Good ethics create a positive "tone at the top" and
company culture, all of which are required for establishing a successful ERM.
Since a corporation is essentially a legal fiction, it is necessary to have specific
individuals act as its representatives in various contexts. When it comes to the
corporation, directors serve not only as agents, but also as trustees.
Good governance relies heavily on the Board of Directors. The Board of Directors is an
integral part of how a company operates. The duties of a board are established by statute,
precedent, and accepted industry standards.
Today's boards must address problems of openness, disclosure, accountability,
sustainability, corporate citizenship, and globalisation. The Boards also have to adapt to
the ever-increasing needs of consumers. The Board of Directors' dual function is essential
to the development of a robust and competitive business sector that aspires to the highest
levels of ethical behaviour and social responsibility.
Therefore, in this Lesson they have discussed the purpose of a board, its powers and
duties, the types of directors that must be appointed in accordance with the law, the
proper make-up of a board, and the importance of having at least one independent
director.
The course also offers helpful information for evaluating and training board members.
1. Financial Risk –
a. Wholesale credit risk
b. Retail credit risk
c. Treasury risk – insurance risk
d. Treasury risk – pension risk
e. Traded risk
f. Strategic business risk
g. Reputational risk
2. Non-Financial Risk –
a. Regulatory compliance risk
b. Resilience risk
c. Model risk
d. Financial crime risk
e. Financial reporting risk
f. Legal risk
Non-financial risk –
Resilience risk –
➢ Identification and assessment - The identification and evaluation of physical and
transitional climate risks that might affect the organization's operational and
resilience capabilities are within the purview of our operational and resilience risk
function. They are gaining a better knowledge of the risks that our properties face
and evaluating the mitigating factors to maintain operational resilience.
➢ Management - Resilience and operational Risk management strategies are
continuously evaluated and improved to ensure that they stay applicable to newly
emerging hazards, such as those related to climate change. Our coworkers'
abilities are improved via training, regular contact, and committed mentoring.
➢ Reporting and compilation - With the goal of achieving net zero in our own
operations, they are especially interested in creating policies that make proactive
risk management easier and track our progress towards this strategic goal. The
Group's Climate Risk Oversight Forum has a representative from Operational and
Resilience Risk.
Answer -2 ->
In order to achieve a society with no negative effects on the environment in the future,
Honda will work to address the challenges of energy use, climate change, effective
resource utilisation, and clean air preservation through its proprietary technologies and
business operations –
➢ Triple Action to ZERO - Honda aspires to realise a recycling-based society with
zero environmental effect in order for people to live on the planet in a sustainable
way. As a result, the Company has set even loftier goals than our prior Triple
ZERO campaign. Efforts will centre on the Triple Action to ZERO idea, which
combines three aspects, namely carbon neutrality, clean energy, and resource
circulation, into a single concept.
➢ CO2 emissions, net zero by 2050 - In order to combat climate change, Honda
will strive to limit the global temperature rise to 1.5oC above pre-industrial levels
by minimizing carbon emissions from corporate activities and throughout the
product life cycle.
➢ 100% utilization of carbon-free energy by 2050 - Honda will go above and
beyond its typical endeavor of lowering energy risk in order to solve energy
challenges, with the goal of using clean energy both while using its products and
when doing business.
➢ 100% use of sustainable materials by 2050 - Honda will study the recycling of
materials, including the reuse and recycling of batteries, in order to address the
efficient use of resources. Honda will take on the extra task of creating goods
using sustainable materials with no negative environmental effects, going beyond
its prior programme targeted at lowering risks associated to resources and waste
management.
Despite the fact that violations of a professional code of conduct typically result in
professional disciplinary action, the primary value of a professional code of conduct is
not as a protocol for disciplining members who do not conform to the standards set by the
organisation.
Instead, its primary function is to act as a guide for the purpose of fostering ethical
decision-making among members of the profession in question.
Answer -3b ->