Corporate Governance Of SMRT Corporation †MyAssignmenthelp.com

Question: Discuss about the Corporate Governance Of SMRT Corporation. Answer: Ethics is referred to those set of factors that are used to determine the right and wrong in a process (Christen et al. 2016). Business and corporate ethics are those codes, which are used to understand the working process of an organization or a business (Yeshu 2016). The conduct or behavior of an organization or an individual towards an organization in which the person is employed is evaluated with the help of ethics. The correct behavior of an individual in an organizational and professional setting is understood and guided by the use of business ethics or the corporate ethics (Andriof and McIntosh 2017). The human conduct is evaluated with the help of ethics in the corporate world, it is reflective of the moral values that make or break an organization and lead it to collaborative success. Corporate governance is the set of rules that are implemented in order to make sure that the organization works in accordance to the interest of the company and ensures that the employees abide by certain set of rules in the company (Tricker and Tricker 2015). The thesis statement for the essay is that the use of business ethics is mandatory in order to achieve excellence on part of an organization. SMRT Corporation is one of the leading public transport operators in the country of Singapore (Pang 2013). They are a company that ensures people reach places by availing their services in amidst the huge transport network that they have (Menon and Sinha 2013). In recent past there has been issues in the company and its employees have shown a laid back attitude to the service they are supposed to provide. The entire situation arose due to the misconduct of certain business ethics in the company. The business ethics are set of such rules which if tampered with can lead to disastrous results for the organization and its overall performance as well as the public image (Hoffman, Frederick and Schwartz 2014). A company can only perform to the best of its capacity when the workforce is united under a strong leadership that ensures a sense of equality in the organization (Kaur 2013). The failure on the part of SMRT have been majorly due issues that left the workers with a reluctant attitude towards the work at hand. The issue where a certain tunnel was filled with water and the system was disrupted was something that took place due to the laid-back attitude of the maintenance and inspection department of the company. The work culture of the company is something that leads to such ignorance and reluctance among the employees. A positive work culture that incorporates all the needed elements of a bonded teamwork is essential to gain the optimum performance (Fullan 2014). The work culture at various organizations is different from one another but it is to be kept in mind that when an individual shifts from an organization to a different one, the work culture of the past company does come in the performance regime of the person in the current company of employment. If studied closely, it can be evaluated that such has been the case with SMRT and the people have become reluctant in performing because the work culture that is prevalent in the company. The company has people from military background and hence the entire work culture is more or less aligned to their style of work. This paves way for a problem that all those who come from other backgrounds face. The lack of flexibility in the work culture makes it tough for the new employees to get used to the work pattern. Such attitude in the work culture raises concerns and leads to miscommunication among the employees and the management. The miscommunication can lead to serious defects on the performance part and add to the woes of the company (Kegeyan 2016). The inefficiency in communication lead to the tunnel watering issue for the SMRT, the management and the employees in charge of the inspection and maintenance could not communicate with each other and cope up with each others working pattern and culture. It was a cultural failure and hence added to the list of negatives of the organizations work culture. Leadership is an essential quality when it comes to deciding that an organization performs good or not. A leader is the one who takes the onus on the shoulder and makes sure that the every involved personality should perform to the best of their capacity and the entire work environment is stimulating and healthy (Pruzan et al. 2017). The practice of ethical leadership in the domain of business is essential in order to abide by the principles of corporate governance. An ethical leader is someone who associates the self with the team and works with them rather than ordering them to get a task done. The ethical leader is someone who makes sure the communication between the employee and the management is well maintained and that there are no issues that the employees are facing in their work or the prevalent work culture (Yidong and Xinxin 2013). The essentiality of such a practice is that the entire work environment remains healthy and employees are much focused due to the constant moti vation, which they get from the leader. The ethical leader does push the employee to an extent so that they can produce the best work. However, such push can never be equated with pressure because the leader does not impose but rather motivates the employees in a way that they come up with the best of their performances for the organization (Yidong and Xinxin 2013). The failure that occurred in SMRT in the workforce is related to the concept ethical leadership and the situations that may arise when such practices are not followed. The various issues such as the lack of collaborative effort on the part of the workers lead to the faults in the system and the image of the company is Singapore went down. The majority of the population on a daily basis uses the public transport; such a service can face extreme criticism if it fails to deliver what it is meant to. The consumer will not be compromising on the quality of the service that is provided to them and any lapse will invite retalia tion and negativity about the company openly in the market (Oliver 2014). The problem of graffiti painting on the trains of SMRT reflected the reluctance of the staffs that were in the security department. The staffs of the company shy away from taking the responsibility of the entire scenario and this leads to loss on the part of the organization. Ethical leadership will make sure that the staffs do not treat things so casually and that the leader works in tandem with them so that they feel the urgency and need to work harder and maintain the dignity of the company. Once such feelings are injected in the workforce, a company like SMRT can feel safer that non such forced invasion into their property and damaging them will not take place. The differences that are within a company needs to used up to strengthen the skill set that the workers have rather than taking it as a reason to create chaos (Cascio 2018). The leader and the various ethical practices can ensure this thing and turn the negatives into positives for the company. Hierarchical moral atmosphere alludes to the ethical climate of the workplace and the level of morals honed inside an organization. Instrumental, mindful, lawfulness, principles, and freedom are the five sorts of atmospheres that can exist in an association. Incivility, badgering, aggression, and separation would all be able to deliver an exploitative and unfriendly workplace, which can make disappointed representatives, while a positive moral condition can make employees productive and significantly more joyful (Demirtas and Akdogan 2015). Moral failings and administrators' freak practices, prompting money related outrages, are at the core of an emergency of trust in organizations. Advancing an atmosphere of trust in the authoritative condition appears to be increasingly dependent upon adherence to an arrangement of guidelines and standards of lead, which advocates moral esteems shared by the individuals from the organization. The problem in the SMRT was that the maintenance team ad ulterated records to influence it to appear as they played out the support. They evidently closed down upkeep and submitted support records despite the fact that they did not motivate endorsement to get to the tracks to keep up the sump pumps. The pump records demonstrate that the pumps were not enacted on the expressed support dates. In the event that the pumps were surely kept up, the pumps would have been initiated on the upkeep dates. That was another bit of proof that proposed that the support group didn't keep up the pumps. In view of these discoveries from the preparatory examinations, the director and staff in charge of the upkeep of the Bishan gateway, sump pump, and framework have been suspended. Such situations arose due to the negative climate and deep seated differences based on culture within the organization. The work environment has to be motivating and in a way boost the performance of all those who are working for the organization (Deci and Ryan 2014). For upliftin g the climate of the workplace, SMRT did incorporate certain steps and they will enable the company to gather the momentum back in the market. Some the steps taken and their advantages are mentioned below- Rolling out suitable improvements to the administration and upkeep group, where justified. This allows for getting new fresh member onboard for the organization and the new people can evict the entire negativity and reluctant attitude that was prevakent in the company. New brains will mean that there will be zero cultural differentiation and the employees will work in unison. Setting up a joint availability assessment group that will supplement answer to SMRT's own review framework. It will autonomously answer to a SMRT Board's review and hazard council. Also, this joint availability investigation group will together with The Land Transport Authority (LTA), answer to the LTA/SMRT Joint Board Technical Committee. This will make sure that every person in the organization is answerable to someone and hence everyone will be working in a much organized way and the work pattern will enable a positivity in the workplace for everyone leading to better results in the due course of time (Huang et al. 2017). This will guarantee that maintenance and resource reestablishment are freely inspected and checked in an efficient way. Drawing in outsider topic specialists to venture up quality control observation of all preventive support exercises and lead a framework wide examination of basic frameworks. This will guarantee that upkeep works are done as per our predefined gauges. Such steps taken will reduce the cultural disturbance within the organization and improve the image of the company that has been lost due the mishaps caused by the reluctant attitude of the people attached to the organization. To conclude, the use of business ethics is mandatory and it can be seen from the case if SMRT that not adhering to such rules can lead to various problems and negatively affect the organization in its working style and service. In this age of globalization, the workplaces are growing in their variety and hence it is necessary for all organizations to work in accordance to the set of business ethics so that they are not faced with any crisis in their working and the overall image of the company is not hampered. The corporate world needs to follow the set of rules and this will enable them in reaping the maximum profits in the market they operate. References Andriof, J. and McIntosh, M. eds., 2017.Perspectives on corporate citizenship. Routledge. Cascio, W., 2018.Managing human resources. McGraw-Hill Education. Christen, M., Van Schaik, C., Fischer, J., Huppenbauer, M. and Tanner, C., 2016.Empirically Informed Ethics: Morality Between Facts and Norms. Springer. 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