Biography of Aristotle Onassis

Aristotle Onassis was a Greek shipping magnate and a wealthy international celebrity. His fame increased enormously in October 1968 when he married Jacqueline Kennedy, the widow of the late U.S. President John F. Kennedy. The marriage sent shockwaves through American culture. Onassis and his new wife, dubbed Jackie O by the tabloid press, became familiar figures in the news. Fast Facts: Aristotle Onassis Nickname: The Golden GreekOccupation: Shipping magnateKnown For: His marriage to former First Lady Jacqueline Kennedy and his ownership of the largest privately-owned shipping fleet in the world (which made him one of the richest men in the world).Born: January 15, 1906 in Smyrna (present day Izmir), TurkeyDied: March 15, 1975 in Paris, France.Parents: Socrates Onassis, Penelope DologouEducation: Evangelical School of Smyrna (high school); no college educationSpouse(s): Athina Livanos, Jacqueline KennedyChildren: Alexander Onassis, Christina Onassis Early Life Aristotle Onassis was born January 15, 1906 in Smyrna, a port in Turkey that had a substantial Greek population. His father, Socrates Onassis, was a prosperous tobacco merchant. Young Aristotle was not a good student, and in his early teens he left school and began working in his fathers office. In 1919, Greek forces invaded and occupied Smyrna. The Onassis family fortunes suffered greatly when Turkish forces invaded in 1922, taking back the town and persecuting Greek residents. Onassiss father was jailed, accused of conspiring with the Greeks who had occupied the region. Aristotle managed to help other family members to escape to Greece, smuggling the familys funds by taping money to his body. His father was released from prison and rejoined the family in Greece. Tensions in the family drove Aristotle away, and he sailed to Argentina. Early Career in Argentina With savings equivalent to $250, Onassis arrived in Buenos Aires and began working at a series of menial jobs. At one point, he landed a job as a telephone operator, and he spent his night shifts improving his English by listening in on calls to New York and London. According to legend, he also overheard information about business deals which enabled him to make timely investments. He began to appreciate that information obtained at the right time could have enormous value. After repairing his relationship with his father, Onassis partnered with him to import tobacco into Argentina. He was soon very successful, and by the early 1930s he was prominent in the Greek expatriate business community in Buenos Aires. The Golden Greek Becomes a Shipping Magnate Seeking to move beyond being an importer, Onassis began to learn about the shipping business. While on a visit to London during the Great Depression, he obtained potentially valuable information: rumors that Canadian freighters were being sold by a troubled shipping company. Onassis bought six of the ships for $20,000 each. His new company, Olympic Maritime, began moving goods across the Atlantic and prospered in the late 1930s. The outbreak of World War II threatened to destroy Onassis growing business. Some of his ships were seized in ports in Europe. Yet Onassis, after safely sailing from London to New York, managed to negotiate to get his fleet back under his control. For most of the war, Onassis leased ships to the U.S. government, which used them to transport vast quantities of war supplies around the globe. When the war ended, Onassis was set up for success. He purchased more ships cheaply as war surplus, and his shipping business grew quickly. At the end of 1946, Onassis married Athina Tina Livanos, with whom he had two children. Tina Livanos was the daughter of Stavors Livanos, another wealthy Greek shipping magnate. Onassis marriage into the Livanos family increased his influence in the business at a critical time. In the postwar era, Onassis assembled one of the largest merchant fleets in the world. He built massive oil tankers which roamed the oceans. He encountered legal problems with the U.S. government over the registration of his vessels, as well as over a controversy about his visa paperwork (which was rooted in conflicting information about his declared birthplace when he had first emigrated to Argentina). Onassis eventually settled his legal problems (at one point paying a $7 million settlement) and by the mid-1950s his business success had earned him the nickname The Golden Greek. Marriage to Jackie Kennedy Onassis marriage to Tina Livano came apart in the 1950s when Onassis began an affair with opera star Maria Callas. They divorced in 1960. Soon after, Onassis became friendly with Jacqueline Kennedy, whom he met through her socialite sister Lee Radziwill. In 1963, Onassis invited Mrs. Kennedy and her sister for a cruise in the Aegean Sea aboard his lavish yacht, the Christina. Onassis remained friends with Jacqueline Kennedy following the death of her husband, and began courting her at some point. Rumors swirled about their relationship, yet it was startling when, on October 18, 1968, the New York Times published the front-page headline, Mrs. John F. Kennedy to Wed Onassis. Aristotle Onassis and Jacqueline Kennedy Onassis in a limousine. Getty Images Mrs. Kennedy and her two children flew to Greece and she and Onassis were married on his private island, Skorpios, on Sunday, October 20, 1968. The marriage became something of a scandal in the American press because Mrs. Kennedy, a Roman Catholic, was marrying a divorced man. The controversy faded a bit within days when the Catholic archbishop of Boston defended the marriage on the front page of the New York Times. The Onassis marriage was an object of enormous fascination. Paparazzi trailed them wherever they traveled, and speculation about their marriage was standard fare in gossip columns. The Onassis marriage helped define an era of jet-setting celebrity lifestyle, complete with yachts, private islands, and travel between New York, Paris, and the isle of Skorpios. Later Years and Death In 1973, Onassis son Alexander died tragically in a plane crash. The loss devastated Onassis. He had anticipated his son taking over his business empire. After his sons death, he seemed to lose interest in his work, and his health began to fail. In 1974, he was diagnosed with a debilitating muscular disease. He died on March 15, 1975, after being hospitalized in Paris. When Onassis died in 1975, at the age of 69, the press estimated his wealth at $500 million. He was one of the richest men in the world. Legacy Onassis rise to the pinnacle of fame and wealth was unlikely. He was born to a merchant family that lost everything in the aftermath of World War I. After relocating from Greece to Argentina as a virtual refugee, Onassis managed to enter the tobacco importing business and by the age of 25 had become a millionaire. Onassis eventually branched out into owning ships, and his business sense led him to revolutionize the shipping business. As his wealth increased, he also became known for dating beautiful women, ranging from Hollywood actresses in the 1940s to the famed opera soprano Maria Callas in the late 1950s. Today, he is perhaps most well-known for his marriage to Jackie Kennedy. Sources Onassis, Aristotle. Encyclopedia of World Biography, edited by Andrea Henderson, 2nd ed., vol. 24, Gale, 2005, pp. 286-288. Gale Virtual Reference Library.Passty, Benjamin. Onassis, Aristotle 1906–1975. History of World Trade Since 1450, edited by John J. McCusker, vol. 2, Macmillan Reference USA, 2006, p. 543. Gale Virtual Reference Library.

Educating America about Legalization of Marijuana Essays

Educating America about Legalization of Marijuana Over 3000,000 people a year are arrested because of it in our country. Its recreational usage boomed in the 1960s and by the 1980s one half of all college students had tried it. Once a simple plant, cannabis satria, or marijuana, has become one of the most controversial topics of the 20th century. Although illegal for some time now in the United States, we know of its widespread availability and usage. Once a huge threat to society, it is now being overlooked as we turn to the seemingly more serious problems of cocaine and heroin. But should we be taking a second look at it, cracking down on enforcement and trying as hard as possible to rid our country of this drug? Well the†¦show more content†¦It wasnt until the mid-nineteenth century that western doctors began prescribing it to their patients, and soon it could even be bought in drug stores. It was commonly used in the U.S. to treat asthma, epilepsy, dysmemarrhea, gonorrhea, and migraines, being compared to opium in strength but much kinder on the body. The use of marijuana declined with the development of aspirin and barbiturates, which were much more dependable. The belief that Marijuana Tax Act of 1937. This new law to discourage recreational smoking required anyone purchasing the drug for certain medical purposes to pay a tax of one dollar per ounce, while those inclined to use it for other purposes paid one hundred dollars per ounce. In 1970 Congress passed the Controlled Substances Act, assigning psychoactive drugs to five schedules. Cannabis came under schedule 1, the most restrictive. Drugs outlined under schedule 1 were said to have no medical use, a high potential fo r abuse and no safe uses. In 1978 New Mexico enacted the first law to make it legal for medical use, and by 1994, 36 other states followed. 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Parapsychology The Non-Existence of Ghosts Free Essays

Ghosts are a paranormal phenomenon that has been given a lot of credibility to which it may not be entitled. People are willing to believe the existence of ghosts based mostly on the readings of electronic equipment, the explanations of the equipment operators regarding those readings and the account of eyewitnesses. The real explanations may be much more scientific and much less fanciful. We will write a custom essay sample on Parapsychology: The Non-Existence of Ghosts or any similar topic only for you Order Now There are a few â€Å"signs† that a ghost is present, according to the believers. These are: †¢ Unusual cold spots †¢ Unusual drafty or windy areas †¢ Unusual smells †¢ Strange sounds (voices, footsteps, moaning, crying, banging, etc) †¢ Anywhere you feel a strange â€Å"being watched† sensation (Santore) These sound like flimsy evidence to convince someone that a ghost is present and yet the majority of believers will attribute any or all of these â€Å"signs† as proof that ghosts exist. Science takes a much different view of these â€Å"signs† and can offer more reasonable explanations for these occurrences. Most of the ghost sightings and paranormal experiences concerning ghosts can be scientifically analyzed and explained. There is no correlation between the lifestyles, IQs, or financial status of believers and non believers of ghosts. Religion may play a part in the willingness or not to accept ghosts as real. As with almost anything, if someone looks for it, it will usually be found. That is the way most ghosts are discovered, through the belief that they are present and can be witnessed if one perseveres. This is proven by most of the â€Å"Ghost Walks† and tours of haunted establishments around the world. People who attend these walks and visit these establishments do so with the preconceived idea that they will see a ghost or some phenomenon that represents a ghostly presence. This state of mind sets them up to see what they wish to see and few will try to explain away the ghost sighting with science and investigation. Among the most common phenomena found at ghost research sites are apparently floating, circular or diamond-shaped objects called â€Å"orbs,† which have been captured in many photographs. Video cameras have shown their images floating across the screen, while digital and 35- millimeter cameras have photographed orbs larger than basketballs or as small as a postcard. (Krivyanski 140) These orbs are one of the more frequently produced â€Å"evidence† of the existence of a ghost. Most people using a digital camera have seen these floating spheres in many of their pictures. Believers claim these orbs are the photographic evidence of a spirit presence. Joe Nickell, Senior Research Fellow for CSICOP, says, â€Å"We do know that dust, fingers, camera straps, mist, and lint can reflect the camera’s flash and produce ghostly effects. Dust particles are a major source of orbs. We do not know that ghosts are the explanation of any orbs. † In fact, Nickell has intentionally produced orbs in experiments. (Peterson) Another photo anomaly is the ectoplasm. This is similar to the orb but is more of a stream of smoke than a sphere shape. Ghost hunters have seized on ectoplasm as a pseudo explanation for various strand and mist effects in photos. Such effects can be caused by the flash rebounding from the camera’s wrist strap, jewelry, hair, insects, a wandering fingertip, etc. , etc. (Nickell 1996). Photographs of ghosts continue to fascinate those who are looking for proof of a ghost’s existence. Over the years there have been thousands of ghost photographs but none have been proven without a doubt to be of a spiritual presence. Photography recreated reality so exactly that it became the medium of choice for the rendition of the ultimate non-reality: the â€Å"spirit†. â€Å"Spirit photos† became spectacularly popular by the 1880s and remain colorful reminders of quaint Victorian sensibility. They were ultimately embarrassing; both for the purchasers and the providers, once word got out that the â€Å"spirits† they showed were merely the by-products of deliberate double exposure. (Packer 30) Photographer William L. Mumler caused a sensation in the late 1800 when he produced photographs of ghosts for exhibition. When his â€Å"ghosts† were found alive and working in Boston, he admitted to fraud and explained that he had found a crude method of double exposure while working in his photographs and used it to create the photos. (Nickell 146-159) With the advances in photography and digital enhancements, it has become easier to manipulate photographs and mislead people looking for proof of ghosts. Most times, a good researcher can discover the methods used to fake the â€Å"spirits† in the photos and prove the image to be a fake. While admittedly, there are some photos that cannot be explained by modern research methods, this does not indicate proof of a ghost’s existence. It simply means that the method used to create the image has not been positively identified. There have been many proven frauds in the cases of ghost evidence and sightings. Some fakes are misunderstandings of the situation or cause, as in the following case: Vic Tandy of Coventry University in Scotland. His experience suggests that it may be possible to attribute many of the classic signs of ghosts to very low frequency sound waves trapped inside buildings. Although these sound waves cannot be heard, tests have revealed that they can induce the perception of wraithlike â€Å"ghosts† and even a feeling of cold and terror. Tandy was working alone one night in a laboratory. He began sweating despite feeling cold and then noticed a figure in the room. He was terrified. The following morning a fencing enthusiast who had left a foil clamped in a vise returned to the lab and noticed the blade’s free end frantically moving up and down. Tandy, who is a trained engineer, realized that it might be getting energy from low-frequency, inaudible sound waves filling the laboratory. Indeed, tests revealed a standing wave trapped in the lab and reaching a peak intensity next to his desk. Further site inspection led to the source of the standing wave: a new extraction fan. When the fan’s mountings were altered, the suspected ghost left. (Krivyanski 140) One case in particular proves the power of imagination and suggestion in regards to those who are searching for proof that ghosts do exist. Arthur Machen, a journalist and author of paranormal fiction wrote a fictional account of the British Army’s retreat from the occupying German forces from Mons, France in 1914. Machen reported in a â€Å"fanciful† tale that phantom archers and soldiers from a medieval battle between the English and French from many centuries before. The ghosts, according to Machen, supplied a â€Å"rear guard† that allowed the English withdrawal and even caused some casualties within the Germans. Problem was the fiction quickly became â€Å"fact† as reports came in from the soldiers on the field about the â€Å"angels† assisting their efforts. Even when Machen decried the whole story as a work of fiction, people kept sending him reports of the Angels. Even after the war, a German officer claimed a horse â€Å"rear up† and tossed him off after being startled by the ghostly soldiers. (Didier, 2007) There is a saying that goes â€Å"People see and hear exactly what they wish to see and hear. † Nowhere is this more evident than the field of paranormal research. Millions of people have been taken in by false mediums, crooked illusionists and urban legends. These stories or sightings have a snowball effect on the public, one person sees or hears something that they swear is a ghost or spirit and others pick it up and continue the story. These people are unaware that they are the victims of wishful thinking or propaganda. Personal validation is, for all practical purposes, the major reason for the persistence of divinatory and assessment procedures. If the person is not persuaded, then the story will not survive. The widespread acceptance of myths about Bigfoot, the Bermuda Triangle, ancient astronauts, ghosts, the validity of meditation and consciousness-raising schemes, and a host of other beliefs is based on persuasion through personal validation rather than scientific conviction. (Frazier 81) Ghost stories or stories of encounters with ghosts have been produced as evidence of existence for many years. Many of these stories or encounters are actually quite old and have been retold in various versions many times. Urban legends are made from many of these stories, such as the ghost bridge, the college suicide and the missing party girl. Almost every state has a version of these stories but no one has produced concrete evidence that these tragedies ever actually occurred as told. While there are tragedies in all areas, none have been proven to produce the ghosts said to haunt the halls, bridges and roads of these stories. Gillian Bennett states â€Å"There are several problems with using these stories as a basis for overall conclusions about ghosts. First, most of these stories are highly traditionalized; excellent material for discussing ghost traditions, but for that reason less reliable as evidence of the nature of ghost experience. Evans says at the outset that what he proposes to do â€Å"is to see what we can learn about ghosts by looking at people’s experiences of ghosts. † This is fine so long as one can be certain that the experience they had was exactly the same as the one they reported. I doubt the match is usually this exact. Telling stories is a social activity and there are all sorts of reasons for doing it and for doing it in one way rather than another. A story about a strange experience will only be told if it fits expectations; if it does not but the narrator insists on telling it anyway, the hearers will ask questions and suggest details and generally try to get it into better shape as a ghost story. This might be the form in which it eventually gets into print. † (Bennett) There are many theories regarding what we see as ghosts and what they actually may be. Some researchers have done studies on whether the intellect of the person has an effect on their belief or disbelief of ghosts. This type of study has too many variables to be conclusive and many of the people had preconceived opinions before the study began. There is evidence that gender may be a factor in whether one believes in ghosts or not. Many researchers have found the endorsement of paranormal beliefs to be stronger among females than males for both global belief and for most of the specific dimensions of paranormal belief (Irwin, 1993). (Smith, Foster, and Stovin) One of the more interesting theories involves geomagnetic fields. Michael Persinger, Ph. D. , a professor of psychology at Laurentian University in Ontario, Canada, has demonstrated that a sensitive temporal lobe–the area that is responsible for regulation of emotions and motivated behaviors–together with naturally occurring magnetic fields, can trigger a ghostly encounter. â€Å"Individuals prone to paranormal experiences are sensitive to weak electromagnetic fields and to man-made electrical fields, which are becoming more prominent in the communication age,† explains Persinger, who has studied the link between magnetic fields and paranormal experience for 15 years. (Lockman 27) For every ghost hunter out there, there is a researcher with a plausible explanation for the phenomenon. If more people stop to view the evidence that science has to offer, they would be in a position to make an educated decision. While this may not prove concretely that ghosts do not exist, it offers a more reasonable explanation for those incidents that become urban legend or ghost stories. While it is sad to think of the trauma of a college suicide, it is improbable to think that the spirit of that person has nothing better to do than hang around the college dorm where they met their demise. Paranormal research is a very wide field and new areas are opening up every day. Like wise, the opportunity to research and investigate is an open area. With more advances in science, we are closer than ever to proving that ghosts do not exist. The evidence presented here is a small fraction of the hoaxes, frauds and misconceptions regarding the existence of ghosts. To be fair, the majority of ghost hunters investigating an occurrence will try to determine if there is a reasonable or mundane explanation for the sights or sounds. Many times they will find that the â€Å"ghost† is nothing more than loose floorboards or an overactive imagination. The cases that do not produce a common cause do not prove the existence of a ghost; they merely prove that more research is needed. Ghosts do not exist and science backs this up with more evidence every day. The mediums and hauntings are having to become more elaborate in order to maintain their illusions. In time, science will prove, with a doubt, that ghosts do not co-inhabit our houses, schools and roadsides. How to cite Parapsychology: The Non-Existence of Ghosts, Papers

Corporate Governance Mechanisms and Performance

Question: Discuss about the Corporate Governance Mechanisms and Performance. Answer: Introduction Corporate governance mainly refers to the procedures and the relation that controls and directs the corporation. Distribution of the rights and the responsibilities of the different participants in the corporation are identified by the governance structure and values (Tricker 2015). The CEO is mainly the top executive who has the responsibility to deal with the operation and the management of the business. He is primarily responsible for managing the executive team that oversees the top-line directors and the managers. The board of directors, on the other hand, has the responsibility to ensure that Qantas meets the contracted mission necessities (Wu et al. 2015). The Separate Roles, Duties, and Responsibilities The board of directors of the Qantas Airways mainly consists of the majority of the independent Non-Executive Directors and the Chief Executive Officer. The Chairman needs to be an independent non-executive director who should be an Australian citizen. The boards of directors are responsible for appointing as well as removing the Chief Executive Officer that is the CEO. The primary responsibility of the board is to ensure that Qantas has a suitable corporate governance structure that mainly aims to generate and protect the values of the shareholder (Bainbridge 2015). The responsibility of the board of directors is also to ensure that the Qantas Management is familiar with the legal and other obligation to all genuine stakeholders. The stakeholders are the group that includes the customers, suppliers, workers as well as the regulators of the government. These stakeholders are likely to feel a social, environmental, economical as well as the financial impact of the measures of Qantas. The Strategic direction is required to be set by the Qantas board of directors. The board of directors manages the oversight of the Qantas Group that includes the control and the responsibility. The board of directors monitors the performances of the Executive management. The boards of directors are also responsible for approving the structure of the compensation (Van den Berghe 2012). Figure: The Board of Directors (Source: African Development Bank 2016) The responsibilities of the different board of directors and the CEO are as follows: Independent Non-Executive Director The name of the Independent Non-Executive Director is Maxine Brenner who was appointed in the year 2013 by the Qantas Board. She is mainly the member of the Compensation Committee as well as the Audit Committee. She is primarily responsible for assisting the board in regards to the financial reporting and the audit administration. This especially includes the reliability of the financial reporting of the Qantas Group. She is also responsible for assisting the Board regarding the compensation structure of the Non-Executive Directors. The Chief Executive Officer (CEO) mainly receives the equity incentive awards from the Independent Non-Executive Director (Boxer et al. 2014). Jacqueline Hey was also appointed in the year 2013 by the Qantas board. She is mainly the member of the Audit Committee. As a result, her primary responsibility is to look into the efficiency of the enterprise-wide risk management structure of the Qantas group. She also deals with the observance with the legal and the regulatory requirement. Professor Michael L'Estrange, also the member of the Independent Non-Executive Director was appointed in the year 2016 by the Qantas board. He is the member of the Health, safety as well as the environment and the Security Committee. As a result, he is responsible for assisting the Board in fulfilling the approach, plan and the monitoring of the responsibilities of the corporate governance. This is mainly in regards to the Qantas group that comprises of the health, safety, environment, business flexibility and the security matters. William Meaneywas appointed in the year 2012 by the Qantas board, and he is mainly responsible for the compensation structure and the health, safety as well as the environment and the security measures. This is because; he is the member of the Compensation Committee and the health, safety, environment and the security committee (Boxer et al. 2014). Pula Rayner is also the member of the Independent Non-Executive Director, and he was appointed in the year 2008. He is the member of the Compensation Committee and the Nomination Committee. As a result, besides assisting the board in the compensation structure, he is also responsible for the diversity obligation and the progression of the CEO. Todd Sampson is the member of the Remuneration Committee and the Qantas Board appointed him in the year 2015. Hence, he deals with the compensation and the incentive structure and the tactical policies related to human resources. Recommendation: The board of directors should provide a capitalist leadership to the company within a framework of practical and effective control that facilitates risk to be reviewed and managed. The board of directors should set the strategic objectives of the company that will ensure the required human resources in place (Fernndez-Gagoet al. 2016). The Audit Committee recommends the acceptance of the Annual Risk Management Statement by the Board. The Nomination Committee recommends a term of office for the board members of one or two years. The recommendation of the safety, health, environment and the Security Committee is to be referred to the board for approval (Abernathy et al. 2013). The Chief Executive Officer (CEO) The Chief Executive Officer that is the CEO of Qantas, Alan Joyce was appointed in the year 2008. He is the member of the Safety, Health, Security, and the Environment Committee. As a result, he is responsible for reviewing and mentoring the operational risk that comprises of the safety, health, security, environment and the business flexibility. The Committee is also responsible for undertaking the measures of the risk committee (Custodioet al. 2013). The role and the responsibility of the CEO of Qantas include recommending the strategy of the company that will be supported by the yearly business policies. The CEO should act as the decision maker, thus making a recommendation to the board. The CEO must support the board during orientation and self-evaluation. Conclusion It can be concluded that the responsibility of the board of directors is to ensure that the Qantas Management is familiar with the legal and other obligation to all genuine stakeholders. The board of directors should provide a capitalist leadership to the company within a framework of practical and effective control that facilitates risk to be reviewed and managed. Introduction The corporate governance is a structure that deals with the rules and procedures by which authority are controlled by corporations. The framework and the practices of the corporate governance are vital to determine the cost of capital in the international capital market. The Australian Institute of Company Directors is a non-profit membership organization for directors. AICD has seven state divisions and an international business unit. Good Corporate Governance Is Positively Associated With High Investor Returns The company in Australia needs to be equipped to compete internationally. This, in turn, will help to maintain and promote the confidence of the investor in both Australia and overseas. Australia starts from the position of strength as far as corporate governance is concerned (Busheeet al. 2013). The Coca-Cola Company is dedicated to good corporate governance, which encourages the long-term interests of shareowners, reinforces Board and management responsibility and helps build communal trust in the Company. The board of directors has established the effective governance in the company. The corporate governance materials of the Company, includes the Corporate Governance Guidelines, and the Certificate of Incorporation of the Company. However, the mining company in Australia stood out as the worst sector for corporate governance. As a result, the long-term interests of the shareowners were not encouraged. The principles and the recommendation of the corporate governance are as follows: It is important to lay a solid foundation for the management and oversight Under this principle, the companies should ascertain and reveal the respective roles as well as the responsibilities of the management and the board. The structure of a company must be designedin such a way that it becomes possible for the company to facilitate the board to provide a tactical guidance and efficient oversight of management. The structure should be intended to clarify the individual roles and the responsibilities of the members of the board and the senior executives (Tricker 2015). Recommendation: The companies should set up the measures that are reserved to the board and the measures that are delegated to the senior executives. The companies should reveal the procedures to estimate the performance of the senior executives. It is important to structure the board to add value It is important for the companies to possess a board of a dynamic composition, size and obligation to sufficiently discharge the responsibilities and the duties. An effective board is one that assists the effectual release of the responsibilities imposed by law on the directors and adds value in a manner that is suitable to the particular circumstances of the company. The board must be structured in such a way that it has a proper perceptive of the present and up-and-coming issues of the business. The board should also be able to persuade the enhanced performance of the company. The majority of the board members should consist of independent directors. An independent director is mainly a non-executive director. He is not the member of the management, and he is free of any business that could significantly impede with the independent exercise of their decision. The chair should be an independent director. The chair is mainly responsible for leadership of the board. The chair also facilitates the decisive contribution of all the directors. The same individual should not exercise the role of both the chair and the executive officers. The responsibility should be clearly divided among the individuals. The board should establish a nomination committee. The investors are promoted by the re-appointment of the board of directors. The companies should also reveal the procedures that will help to evaluate the performance of the board. Figure: Corporate Governance (Source: Van den Berghe 2012) It is important to promote ethical and responsible decision-making The companies should not comply with the legal obligation to make the legal and the moral decision. Good corporate governance will ultimately have need of the individuals with honesty. The confidence of the investors will be enhanced if the companies clearly eloquent the acceptable practices for directors and the employees. The company should elucidate the standard of the moral behavior that is required for the board and the senior executives (Ferrell and Fraedrich 2015). Recommendation: The companies should set up a code of conduct and unveil the code or a summary of the code. This should be done to establish the practices that are mainly required to sustain confidence in the reliability of the company. The overview of the code should also establish the accountability and the liability of the individuals to report the unethical practices. The companies should establish a plan regarding diversity. The plan should mainly include the necessities for the board to ascertain the measurable objectives to accomplish gender diversity. To achieve the gender diversity, it is important for the company to reveal the assessable objectives in each manual report (Christensen et al. 2015). The promotion of the female employees should be disclosed in each manual report by the company The safeguard of integrity in financial reporting The companies should possess a framework that will help them to validate independently and safeguard the reliability of the financial reporting. As a result, the company requires putting in place a structure of review that in turn will help the accurate presentation of the economic position of the company. An audit committee should be established by the board The audit committee should consist of the non-executive directors and a majority of independent directors. The audit committee should have an official contract. A timely and a balanced revelation should be made The companies should promote a timely and a balanced disclosure about all the resources that matter to the company. The companies should ascertain written policies that are designed to make sure compliance with Australian Securities Exchange (ASX) Listing Rule (Reddy Sharma 2014). The rights of the shareholders should be respected the companies should respect the rights of the shareholders. The shareholders must be empowered if the company communicates effectively with them. A communication policy should be designed by the company to promote effective communication with the shareholders. The companies should recognize and manage the risk The companies should create a sound system that should be related to the omission of risk and management and internal control (Safari et al. 2015). Recommendation: The companies should establish the measures that will lead to the omission of risk and management as well as the administration of the material risk related to trade. To design and implement the risk management, the board should design and put into practice the risk management. Compensate fairly and correctly - It should be ensured by the companies that the level and composition of compensation should be sufficient such that the relationship to performance remains clear. Recommendation: A compensation committee should be established by the board If the companies can follow these recommendations, in that case, the companies will be able to align a good corporate governance to maximize their investor returns. The progress of the key capital expenditure, as well as the management of the capital, are supported and monitored by the board of directors. The corporate governance practices must progress in the context of developments both in Australia and overseas. The companies should not comply with the legal obligation to make the legal and the moral decision. Conclusion It has been concluded that the companies in Australia needs to be equipped to compete internationally. The companies must respect the rights of the shareholders. 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