Please submit a Word document with your answers to the following questions. Please clearly identify which question you are answering by a number or by writing the question out. Please double space the assignment. 1. In the “Profit’s not always the point” video, the speaker suggests that profit is not always the major goal for a firm. In one or two paragraphs, discuss why he believes that there is more to a firm than profit. Remember to define the main term (profit, in this case) and cite facts that you use in your answer. (link to video: 2. Based on the information provided in Illustration Capsule 2.4 (SEE SECOND PAGE FOR ILLUSTRATION CAPSULE 2.4), describe the ways in which Volkswagen did not fulfill the requirements of effective corporate governance. In one or two paragraphs, discuss how the board of directors sidestepped its obligations to protect shareholder interests? In one or two paragraphs, discuss how Volkswagen could better select its board of directors to avoid mistakes such as the emissions scandal? Remember to define the main term (corporate governance, in this case) and cite facts that you use in your answer. 3. Using the information provided by the Organic Trade Association at https://ota.com/ and the Organic Report magazine at , draw a five forces diagram for the organic food industry, and briefly discuss the nature and strength of each of the five competitive forces. Remember to define the main term (Porter’s five forces, in this case) and cite facts that you use in your answer. ? ILLUSTRATION CAPSUL 2.4: In 2015, Volkswagen admitted to installing defeat devices on at least 11 million vehicles with diesel engines. These devices enabled the cars to pass emis-sion tests, even though the engines actually emitted pollutants up to 40 times above what is allowed in the United States. Current estimates are that it will cost the company at least 7 billion to cover the cost of repairs and lawsuits. Although management must have been involved in approving the use of cheating devices, the Volkswagen supervisory board has been unwilling to accept any responsibility. Some board members even questioned whether it was the boards responsibility to be aware of such problems, stating matters of technical expertise were not for us and the scandal had nothing, not one iota, to do with the advisory board. Yet governing boards do have a responsibility to be well informed, to provide oversight, and to become involved in key decisions and actions. So what caused this corporate governance failure? Why is this the third time in the past 20 years that Volkswagen has been embroiled in scandal? The key feature of Volkswagens board that appears to have led to these issues is a lack of independent directors. However, before explaining this in more detail it is important to understand the German governance model. German corporations operate two-tier governance structures, with a management board, and a separate supervisory board that does not contain any current executives. In addition, German law requires large companies to have at least 50 percent supervisory board representation from workers. This structure is meant to provide more oversight by independent board members and greater involvement by a wider set of stakeholders. In Volkswagens case, these objectives have been effectively circumvented. Although Volkswagens supervisory board does not include any current management, the chairmanship appears to be a revolving door of former senior executives. Ferdinand Piëch, the chair during the scandal, was CEO for 9 years prior to becoming chair in 2002. Martin Winterkorn, the recently ousted CEO, was expected to become supervisory board chair prior to the scandal. The company continues to elevate management to the supervisory board even though they have presided over past scandals. Hans Dieter Poetsch, the newly appointed chair, was part of the management team that did not inform the supervisory board of the EPA investigation for two weeks. VW also has a unique ownership structure where a single family, Porsche, controls more than 50 percent of voting shares. Piëch, a family member and chair until 2015, forced out CEOs and installed unqualified family members on the board, such as his former nanny and current wife. He also pushed out independent-minded board members, such as Gerhard Cromme, author of Germanys corporate governance code. The company has lost numerous independent directors over the past 10 years, leaving it with only one non-shareholder, non-labor representative. Although Piëch has now been removed, it is unclear that Volkswagens board has solved the underlying problem. Shareholders have seen billions of dollars wiped away and the Volkswagen brand tarnished. As long as the board continues to lack independent directors, change will likely be slow
Why Hire a Professional Essay Writer from MyCoursebay
Quality Urgent Essays
MyCoursebay online platform provides the best essay writing service ever received elsewhere, thanks to our professional essay writers. Experience gained in the 10+ years of being in the assignment writing industry is also an added advantage.
Professional and Experienced Academic Writers
A lot is done to maintain us as the best essay writing service provider. Besides owning a degree from a recognized university, a writer must pass the rigorous tests we take them through before they are considered eligible to offer urgent essay help on our website.
Affordable Urgent Assignment Help
Who said a reliable website should not be cheap also? While it is human nature to associate prices with quality, that does not always work. At mycoursebay.com, we guarantee you cheap and urgent essay help without compromising the quality.
24/7 Available Urgent Essay Writing Service
Whether it is a ‘write my essay for me cheap’ or ‘edit my essay’ order you want to request, always feel free to reach us at any time of the day. Our experts work in shifts to ensure that you access urgent essay writing services at any time of the day.
Plagiarism Free Essays Online
The punitive measures that come with plagiarized content are so harsh, and we understand that. We consequently ensure to write each client’s papers from scratch no matter how urgent the essay is. To acknowledge borrowed content, our quick writer references and cites the work.
Wow Customer Support 24/7
Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.
Try it now!
How it works?
Follow these simple steps to get your paper done
Place your order
Fill in the order form and provide all details of your assignment.
Proceed with the payment
Choose the payment system that suits you most.
Receive the final file
Once your paper is ready, we will email it to you.
So much stress and so little time? Take care of yourself: let us help you with your tasks. We offer all kinds of writing services.
No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.
Admission and Business Papers
An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.
Editing and Proofreading
Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.
If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.