Golden Key Scandal

Introduction The apparent conflicts between the legal and moral tariff of the managers and their proclaim role as incorporated stakeholders are commonplace in todays corporate world. The recent corporate break off of the Golden place recognition federation modified which was a subsidiary of the Ceylinco Consolidated, one of Sri Lankas oldest and largest championship corporations emphasizes the importance of the victorious implementation of stakeholder management procedures. This report analyses the nature of corporate practices that facilitated the stakeholder misdirection at Golden paint Credit Company restrict with regard to the Clarksons principles of stakeholder management. It highlights the significance of the ordinal principle of stakeholder management, as an effective guideline to address galore(postnominal) of the issues arising from these conflicts. Summary Golden Key Credit Company Limited was a fully possess subsidiary of Ceylinco Consolidated, one o f the largest handicraft conglomerates in Sri Lanka. It was a monetary institution which pioneered the faith immersion add-in industry in Sri Lanka in the early xix eighties and was responsible for setting-up the initial merchant network that has promptly expanded and is currently utilized by intimately every the creed card operators in Sri Lanka.

In addition to event a variety of domestic credit tease the familiarity 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 the Golden Key sche! me, which was a landmark arrangement when it started, credit cards were provided on deposits and credit could be secluded based on the deposit. This approach was almost similar to the debit entry card practice followed by banks. what is more the company recognised public deposits offering higher by-line rates ranging from 24% to 28.5% per annum without being a licensed financial institution authorize 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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