corporate governance

Topics: Food, 2008 Chinese milk scandal, Sanlu Group Pages: 6 (1020 words) Published: May 20, 2014
Presentation
Hello, everyone, today I want to talk about the ingredients safety in food processing industry through an Australia company- Goodman Fileder . There are 3 parts of my presentation : first, I will give a briefly introduction of Goodmam Fileder Company. Second, I will talk about corporate governance of Goodman Fileder Company. At the last, I will present an example - Sanlu poisonous milk powder incident to demonstrate the importance of CG. I will begin with the introduction of Goodman Fielder Company. Goodman Filder Company was established in 1909. It is a manufacturer, marketer and distributor of bread, dairy products, oil and various food ingredients. There are many famous brands of Goodman Fileder Company, such as Wonder White, white Wings, and Meadow (\' medeu/)Fresh. Next I will come to Corporate governance of Goodman Fielder Company. First, there are lots of diversity policies in the company in terms of all Goodman Fielder employees and contractors. Goodman Fielder is dedicated to providing all employees with an equal opportunity to achieve their full potential. Secondly, in terms of the performance evaluation, The Nomination Committee of Goodman Fielder develops and implements processes for the review of the performance of the Board on an annual basis. The Board reviews its own performance to ensure that their own are carrying out their functions and discharging their responsibilities. The remuneration [ri,mju:nə'reiʃən] Committee oversees the performance of all the employees which complied with Principle 8: remunerate fairly and responsibly (Mayne, 2007). Third, selsct and appoint directors is very important. Factors considered by the Committee when considering the potential Board are very strict which complied with Principle 2: structure the board to add value (Mayne ,2007). Finally, let's come to the importance of corporate governance. The 2008 Chinese milk scandal was a food safety incident in China . The scandal broke on 16 July 2008, after sixteen infants in Gansu Province, who had been fed on milk powder produced by Sanlu Group, were diagnosed(被诊断为) with kidney stones. By November 2008, China reported six infants were dying from kidney stones and an estimated 54,000 babies being hospitalised. The issue raised concerns about food safety in China, and damaged the reputation of China's food exports, with at least 11 countries stopping all imports of Chinese dairy products. However, Goodman Fielder company was not affected by this incident. The content of melamine ['meləmi:n, ,melə'mi:n](三聚氰胺) is live up to the standard requirment. The import of milk powder of Goodman FIelder was not only not declined, but also increased. That is mainly due to good CG in Goodman Fielder. Goodman FIelder has complied with principle 3: promote ethical and responsible decision-making (Mayne, 2007). Its production process is environmently friendly compared with Sanlu Group. It has the Environment and Resource Efficiency Program (EREP) to reduce water, energy and waste generation. Their aim is to fulfil consumers' needs for food- foods that are safe, nutritious and delicious. Their products do not contain genetically modified mateial. Their concern mostly on consumers safety, so that Goodman Fielder can become Australia's leading listed food company. Next, Gewen will talk about corporate governance of other companies in food processing industry.

Problems:
From the Basic needs of human being, Food is one of the most important things around the world because no one can live without food so there are a plenty of food processing companies around the world which are providing their services in processing, and distributing food all over the world. These companies are considered backbone for the food industry. These companies are not only earning profit but also providing the livelihood to millions of people who are working as the employees of those firms. Main function of these firms is the preparation of...
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