Golden Key Scandal

Introduction The apparent conflicts between the legal and moral indebtedness of the managers and their proclaim role as somatic stakeholders are familiar in todays corporate world. The recent corporate break off of the Golden place extension play along modified which was a subsidiary of the Ceylinco Consolidated, one of Sri Lankas oldest and largest backup corporations emphasizes the importance of the victorious implementation of stakeholder management procedures. This report analyses the disposition of corporate practices that facilitated the stakeholder misdirection at Golden nominate Credit Company throttle with regard to the Clarksons principles of stakeholder management. It highlights the significance of the ordinal principle of stakeholder management, as an effective guideline to address umpteen of the issues arising from these conflicts. Summary Golden Key Credit Company Limited was a fully possess subsidiary of Ceylinco Consolidated, one of the largest assembly line conglomerates in Sri Lanka. It was a monetary institution which pioneered the faith launch rag industry in Sri Lanka in the early cardinal eighties and was responsible for setting-up the initial merchant network that has instantaneously expanded and is currently utilized by intimately each the creed card operators in Sri Lanka.

In addition to effect a variety of domestic credit tease the companionship also issued Privilege/Discount cards for various clienteles (Golden Key Credit Card Company, (2002)). The company issued credit cards in a distinct way than the naturalized credit card operators. According to the Golden Key scheme, which wa! s a landmark carcass when it started, credit cards were provided on deposits and credit could be pull back based on the deposit. This approach was almost similar to the account card practice followed by banks. what is more the company evaluate public deposits offering higher by-line rates ranging from 24% to 28.5% per annum without being a licensed financial institution okay by the Central Bank of Sri...If you insufficiency to get a full essay, order it on our website: OrderCustomPaper.com

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