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Governance, Business Ethics, Risk Management & Internal Control

National governance can aid the needs of citizens and maintain order during the pandemic through rules on travel restrictions and business closures. It also ensures political and economic stability. Local governance allows local areas to take their own prevention measures tailored to their needs. Corporate governance should manifest corporate social responsibility and ensure fair treatment of employees during difficult times. International governance facilitates global cooperation and assistance between countries in fighting the pandemic through financial support and resource sharing.

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88 views3 pages

Governance, Business Ethics, Risk Management & Internal Control

National governance can aid the needs of citizens and maintain order during the pandemic through rules on travel restrictions and business closures. It also ensures political and economic stability. Local governance allows local areas to take their own prevention measures tailored to their needs. Corporate governance should manifest corporate social responsibility and ensure fair treatment of employees during difficult times. International governance facilitates global cooperation and assistance between countries in fighting the pandemic through financial support and resource sharing.

Uploaded by

Ridskiee Vivangg
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Governance, Business Ethics, Risk Management & Internal Control

Rodel Guerrero Pineda Jr. BSA-2


Our Lady of the Pillar College- San Manuel Inc.
Mr. Cesar Ramos– Instructor
September 11, 2020

Explain how governance can be used in the following contexts, especially during this
pandemic time:

a. National Governance
National governance defined as the exercise of economic, political and
administrative authority to manage a country’s affairs at all levels, and it comprises
mechanisms, processes and institutions, through which citizens and groups articulate their
interests, exercise their legal rights, meet their obligations and mediate their differences
(United Nations Development Programme, 1997b).
The crisis of pandemic brought uncertainties that affects the lives of millions of
people without any exceptions. National governance in this kind of situation can be used to
aid the needs of the people, maintain public orderliness amidst panic and confusion and give
people inclusivity for health safety and security.
Example of this is the implementation of rules and regulations promulgated by the
government for the safety of the public and for the prevention of spreading the virus (include
mandatory cancellation of public and international flights, quarantine measures, strictly
prohibition for non-authorized transportation and mass assemblies, closure of some business
establishments etc.).
This also includes proper decision-making not only for the health of the people but
also for the political movements and economic stability during this pandemic. Even though
the main problem is all about the pandemic, other important things/matters should not be
neglected.

b. Local Governance
Local governance is a right and capability of a community executed directly in
compliance with the established statutory procedures and through representatives of local
authorities that are not affiliated with the system of state government bodies.
If all power, capacity to decide and even resources are concentrated on the national
level, the local levels will going to have a hard time especially in this time of pandemic to
move and decide for themselves and to heard what specific assistance they need since they’re
actions are dependent on the national level where actions are being discussed first.
Local governance in this kind of circumstances helps every local sector to be able
take actions for their own places and decide what preventive measures are beneficial and
effective for them and their areas, as long as it’s reasonable and not contrary to the law.
Also, some of the good things about local governance are that the people can access
quality public services, can raise their voices in cases like this, can articulate their needs and
take part on the decision making.

c. Corporate Governance
Corporate governance is the system of rules, practices, and processes by which a
firm is directed and controlled. Corporate governance essentially involves balancing the
interests of a company's many stakeholders, such as shareholders, senior management
executives, customers, suppliers, financiers, the government, and the community.
As businesses start to adjust and settle in this new normal, it is important to encourage
a policy of governance that reflects the new ways of doing business under this pandemic.
Corporate governance’s Corporate Social Responsibility (CSR) should be clearly
manifested most especially during this time of pandemic; the decision-making of an
organization should be linked to ethical values and respect to individuals, society and the
environment.
People nowadays are having a hard time providing for their families, and corporate
governance ensures the compliance of every business to their economic responsibilities
towards their employees by providing fair employment conditions and reasonable wages. To
customers and the environment by giving equal value for their moneys and create sustainable
environment not just for people but also to the future generations.

d. International Governance
Global/International governance or world governance is a movement towards
political cooperation among transnational countries and territories, aimed at negotiating
responses to problems that affect more than one state or region.
This pandemic is a threat to global health and a risk to human existence, it attacks
anyone regardless of age, gender, social status and race; thus, international governance can
be a great use and help especially in the current situation of the world.
International assistance and allies from other countries in fighting the virus can be a
huge step on putting an end to this pandemic. International governance can help countries to
have financial support and can provide proper tools and equipment in fighting this pandemic.
International communities are so closely interconnected in interests and destinies,
and it is thus very important and urgently needed to accelerate the building of a community
with a shared future for mankind and international governance made that possible.
Facing the violent pandemic, collaboration towards common goals is the only right
choice for all countries in the world. Solidarity and cooperation are the most powerful
weapons of the international community.

References/sources for the italicized part of the answers:

United Nations Development Programme, 1997b


https://en.wikipedia.org/wiki/Global_governance
http://cleenet.org/index.php/en/online-courses/modul-3/139-local-governance#:~:text=Local
%20governance%20is%20a%20right,system%20of%20state%20government%20bodies .
https://www.investopedia.com/terms/c/corporategovernance.asp

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