Clawback Rule – The Ground of Managers Responsible. Model of Remuneration

The subject of the study is public relations in the field of financial and legal responsibility in Ukraine. Methodology. The methodological basis of the study is the methods of induction and deduction, the dialectical-materialistic method, the method of analysis and synthesis, and the historical method, which allowed for an objective understanding of the content and essence of the issues under study. The aim of the article is to analyse the theoretical aspects of the features of financial and legal liability in Ukraine in order to propose effective ways to improve the mechanism of these procedures. The results of the study have shown that the independence of financial responsibility in Ukraine is emphasised by the relevant criteria, which include the obligation of a person guilty of committing a financial offence to undergo measures of state coercion provided for by the sanctions of financial legislation. Conclusion. Financial responsibility in Ukraine is a legal relationship with a special procedural form of implementation. Financial and legal responsibility is an independent measure of financial sovereignty of the state, has its own legal nature and occupies a certain place in financial legal relations. At the same time, it should be said that liability for violation of financial legislation does not exist only within the framework of financial legislation. Financial responsibility is undoubtedly a type of legal responsibility and is primarily due to the special sphere of sectoral activity of the state and its authorised bodies, which today is considered to be the financial activity of the state, where not all subjects of law are involved, but only subjects of financial law and their financial obligations, which differ only in their ownership, price and public character. Another peculiarity is that, as a rule, financial and legal liability is by its nature restorative, aimed at eliminating negative and other undesirable consequences caused to the financial system of the state. This feature of financial and legal liability reflects the public nature of financial obligations, the fulfilment of which is ensured by the application of financial liability. Some peculiarities that distinguish financial liability in Ukraine are caused by the nature of financial offences that are the basis for financial liability and distinguish financial liability from other types of liability applied both in connection with administrative and disciplinary offences and in connection with criminalised financial crimes and civil offences, the subjects of which are usually independent individual subjects of financial activity, individuals, and companies.

The relevance of this paper is determined by both the need for appropriate scientific support to counter violations of budget legislation that have recently become quite common in Eastern Europe, and the advisability of using positive enforcement experience in Ukraine, Poland and Slovakia in this process. The purpose of the paper is to study the application of measures of administrative and financial responsibility for budget offenses under the laws of Ukraine, Poland and Slovakia in order to identify common and distinctive features of the legal regulation of this application and provide recommendations on the implementation of positive experience in the national legislation of each country. The methodological basis of the study is a set of general scientific and special scientific methods and techniques of scientific knowledge that provide an integrated approach to the analysis of financial, legal and administrative aspects of responsibility for budget offenses under the laws of Ukraine, Poland and Slovakia. It seems advisable to borrow for Ukraine and Slovakia the experience of legal regulation of budget-delictual relations in Poland by adopting a single legislative act that would regulate the grounds and procedure for applying measures of financial and legal responsibility in the budget sphere, and for Poland and Slovakia the experience of Ukraine in differentiation would be interesting responsibility of officials who committed violations of budget legislation (administrative responsibility) and legal entities (administrators or recipients of budget funds) on whose behalf the officials acted (financial and legal liability). The materials in this article may be useful for scientists conducting research on budget-delictual relations, scientific and pedagogical workers during the teaching of the disciplines of ‘Financial Law’, ‘Budget Law’, as well as for representatives of law-making entities in the process of improving budget and administrative legislation.

The article is devoted to the issue of improving the legislation on financial and legal liability for violations of customs legislation in Ukraine. The analyzed legal framework for regulating the institution of financial and legal responsibility and, in particular, the legal support of this type of responsibility in the field of customs regulation, necessitates the identification of problematic aspects and the formation of areas for improvement of legislation in this area. Conclusions were made on improving the legislation on financial liability for violations of customs legislation. Elimination of existing shortcomings will improve the functioning of the institution of financial and legal responsibility in the field of customs regulation, this requires: 1) clearly define at the legislative level that financial and legal liability may be applied for non-fulfillment or improper fulfillment of the obligation to pay customs duties and violation of the procedure for conducting foreign exchange transactions in the field of foreign economic activity; 2) to systematize at the legislative level financial offenses in the field of state customs; 3) to establish at the legislative level measures of financial and legal responsibility for committing financial offenses in the field of state customs; 4) determine at the legislative level specific financial and legal sanctions for each financial offense in the field of state customs; 5) regulate at the legislative level: the range of persons subject to financial liability; general conditions for bringing to financial responsibility; circumstances that preclude bringing a person to financial responsibility; forms of guilt in committing financial offenses; circumstances that exclude the guilt of a person in committing financial offenses; circumstances that mitigate and aggravate the responsibility for committing financial offenses in the field of state customs; 6) establish at the legislative level the procedure and rules of proceedings in cases of financial offenses in the field of state customs.

Based on the norms of the Constitution of the Russian Federation, the basic postulates for Russian law set forth in the research of legal theorists and specialists in administrative law, the author justifies the absence of a separate type of responsibility, which was named "financial responsibility", proving that this responsibility is part of administrative responsibility, since it is based on administrative and legal relations, that is, the relationship of "power – subordination". The article provides examples of the norms of legislative acts confirming the violation of the principle of non bis in idem, that is, the fundamental principle for the rule of law, according to which it is unacceptable to punish twice for the same violation. As a result of the conducted research, proposals have been developed to change modern Russian legislation, which will make it possible to exclude parallel (simultaneous) bringing to administrative responsibility and financial responsibility for the same violation. Along with general scientific research methods (study, consideration of connections and contradictions, application of system analysis), the author used special methods: formal-legal and comparative-legal. The author came to the conclusion that there is no financial liability as a separate type of legal liability, since the nature of financial violations, the procedure for establishing rules, and bringing to named responsibility completely coincide with the elements on the basis of which administrative liability exists. Justice towards a person and a citizen in Russia requires not violating the principle of non bis in idem, that is, the principle of the inadmissibility of repeated punishment for the same offense (misdemeanor, offense, crime). In order to eliminate the existing situation, which is subject to administrative responsibility and financial responsibility at the same time, specific measures have been proposed to regulate the existing situation in order to minimize the arbitrariness of various non-governmental bodies to apply penalties not prescribed by administrative legislation at their discretion, which will lead to a decrease in the number of inspections on issues that usually do not play a significant role. On the other hand, they will support the state authorities, which stands guard over the protection of human and civil rights and freedoms in Russia.

In the space of a few years, corporate social/sustainable responsibility (CSR) has become a managerial buzzword and a major focus—if not an industry in itself—for managers, consultants, auditors, journalist, teachers, and students. But definitions of responsibility in CSR tend to be determined by the firm as a collective, or more simply representatives from the top management. And this raises a many questions, for example: in the age of CSR, how is responsibility experienced by managers as individuals? Does this responsibility differ from the responsibility of managers as representatives of a collective? If yes: how and why? While the same word responsibility is used to depict a wide array of definitions, the meaning of responsibility varies critically as one moves from collective, or corporate responsibility to individual responsibility. The formal processes of corporate responsibility differ from those of individual responsibility. The two are not symmetrical: they impact on one another but they operate on grounds that are different and even involve different trade-offs. Most corporations show a marked reluctance to engage with responsibility beyond a limited definition in terms of legal and economic liability. Notwithstanding, at the individual and societal levels, there is a growing demand for a fuller conceptualization of the responsibility for actions undertaken in the name of corporations, and other organizations. Responsibility is not only a matter to be determined by corporations. It is also—indeed it may be even only—a critical matter for the human being that is every manager, both in and out of work, and for society at large. Events, such as, the Deepwater Horizon oil spill in the Gulf of Mexico, or the 2008 financial crisis, have largely contributed to placing responsibility at the forefront of managerial and societal demands on corporations. We believe that a discussion of the diversity of responsibility in organizational contexts merits emphasis in research, teaching, and civil society debates. The purpose of this special issue of the Journal of Business Ethics is therefore to explore the conditions for, and the possibility of, truly responsible management; the responsibility of managers both as individuals and as agents of the firm. In particular, our purpose is to illustrate the many ways in which managers experience their personal responsibility in the field, when confronted by realities which are, or are not, accommodated by the ethical code(s) of practice produced in some remote head office.

Improving the Productivity of Company Cash. How Your Business Will Benefit from TCM. The Real Value of Cash to Your Business. How Your Operating Decisions Impact Cash Flows. Better Expense Control is the Road to Cash Flow. Turn Accounts Receivable into Cash. TCM for Marketing--Increase Sales Through Pricing. Creative Inventory Management Will Produce Cash. Payroll, Benefits and the Cash Role of Human Resources. Mergers and Acquisitions--Top Management's Responsibility. Purchasing and Leasing Fixed Assets--Where's the Payoff? The Financial Manager's Role in Total Cash Management. Developing the TCM Team. Forecasting Cash Flows and Cash Balances. Managing Your Bank the Way You Manage Your Cash. Put Your Excess Cash to Work--Fast! Is Short-Term Borrowing a Solution to Cash Flow Problems? Easing Your Problems by Using Long Term Debt and Equity. Summary--Cash Is King: Install TCM Now! Appendix: Reporting Cash Flows. Using SFAS 95 as a Management Tool.

A phrase search in google for "safety culture" results in 240 million hits in less than half a second…it's got to be an important phrase… There are plenty of definitions for safety culture: Like in most organizations within the industry, safety culture is measured as a whole…not by the commitment of one person, one team or one rig. A true safety culture is not necessarily a place where accidents and incidents never happen. But it is a place where people routinely do their very best to do the right things for the right reasons. A culture can also be described as the beliefs and behaviors handed down from one generation to the next, with each new employee and contractor representing the next generation of the company. This can be an opportunity, or a continuing challenge as exemplified by the findings from a major industrial incident which found, "…hazard training was largely passed down by experience from others. Sometimes this guidance was poor, perhaps due to an element of complacency…" In a newspaper article, Dr. Najmedin Meshkati, professor of civil, environmental and system engineering at the University of Southern California, said, "A (strong) safety culture creates the necessary framework within an organization – whose development and maintenance is the responsibility of top management – and the attitude of staff at all different levels in responding to and benefiting from the framework." When building such a culture, a company needs to create the environment which enables safety to be a core value and, more importantly, reside within the hearts of the individuals who work there. It should be something everyone practices both at work and in their personal lives. By analyzing our existing culture we are able to see that we have allowed conditions and events to drive our actions. This results in a very reactive leadership style which is subject to short term improvements, and lacking in long term sustainability. We have not been focused in the areas that will create lasting improvement. To obtain long term sustainable cultural changes, a proactive "bottom up" leadership style must be obtained in which every supervisor / manager has a sound understanding of the capabilities of the employees under their supervision. This will result in the formation of a team effort culture that is clearly focused on problem solving and long term solutions. But how does a company build this type culture? What follows are the practical steps one company took in order to begin their cultural transformation and, more importantly, how this initiative helped substantially reduce their overall Total Recordable Incident Rate (TRIR).

American Institute of Mining, Metallurgical, and Petroleum Engineers, Inc. Discussion of this paper is invited. Three copies of any discussion should be sent to the Society of Petroleum Engineers office. Such discussion may be presented at the above meeting and, with the paper, may be considered for publication in one of the two SPE magazines. Abstract This paper explores several aspects of economic decision making in actual use by members of the petroleum industry, including cost of capital, measures of investment evaluation, required minimum rate of return, and risk-analysis methodology. Certain internal procedures utilized by the responding firms in procedures utilized by the responding firms in the application of the above mentioned measures are reported and compared. The contents of this paper have valid implications for a variety of audiences. This study illustrates how different petroleum executives are handling economic decision making and evaluates the state-of-the-art of the economic decision-making process in the petroleum industry. The results of this study petroleum industry. The results of this study can be used by firms to evaluate and possibly improve their own practices. This paper can make its greatest contribution to smaller firms in the industry who have not yet adequately developed their economic-analysis capabilities and, hence, are searching for procedures to improve their economic decision making. This paper is based on the responses to a four-page questionnaire that was mailed to the chief executive officers of 15 major companies in the petroleum industry; 12 companies responded. Introduction The opportunities for investment or capital outlays form the framework for a company's future development and are a major determinant of efficiency and competitive power. Consequently, a corporation's investment decisions have a profound effect upon its future earnings. profound effect upon its future earnings. Any business is continuously faced with the problem of making investment decisions. Even problem of making investment decisions. Even for the small business, the problem of reinvestment of earnings, expansion, or diversification is a continuing one. Investment opportunities usually are analyzed by various segments of the organization, but the final decision is the responsibility of top management. This situation points out the need for sound programs of evaluation. Management needs an objective means of measuring and comparing the economic worth of the individual investment proposals submitted by various divisions of the organization in order to have a realistic basis for choosing among them and selecting those that will make the greatest contribution to meeting corporate goals. In addition, using objective criteria and formal guidelines for processing of capital investment proposals allow some investment decisions to be proposals allow some investment decisions to be delegated to lower levels of management, economizing on top-management time.

There has been a growing understanding among organizational scholars and business practitioners that management in organizations has to be responsible to its stakeholders and to the society. Recent scholarship on responsible management focused on defining what ‘responsible’ in a management context means, and even though there has been noticeable progress in an understanding of the concept, the topic still remains open for further thinking. It is our strong belief that the comprehension of responsible management cannot be complete without brining into discussion key ideas of American Pragmatism. Thus, this work contributes to the ongoing discussion on responsible management by elaborating on far-reaching ideas of John Dewey, a renowned educator and social reformer whose philosophical ideas changed the landscape of many domains of our society. In this work, we show the relevance of Dewey’s thought-provoking ideas on individual’s responsibility to comprehending management responsibility in organizations. In particular, we analyse the following aspects of management responsibility: (1) making responsible decisions not only helps achieve good outcomes, but it also shapes the essence of an organization – its culture and values; (2) responsible management expands beyond following a set of prescribed rules – it is about transforming the environment around the organization for higher moral goals, such as the betterment of others stakeholders; (3) there is no prescription of the universal rules for responsible management as each situation is unique and requires an individualized approach.

Experts' perspectives on shared responsibility for speed management: A thematic analysis informed by systems thinking.

O trabalho analisa a relação entre a avaliação do controle interno e o tamanho dos órgãos jurisdicionados do Tribunal de Contas do Ceará (TCE/CE). O estudo analisa 57 entidades e utiliza dados de 2016. A avaliação do controle interno foi feita por meio dos formulários que constam na Instrução Normativa TCE/CE nº 03/2015, baseada no framework do COSO. A variável contingencial tamanho dos órgãos foi mensurada através do orçamento e despesa empenhada e do número de funcionários totais e ativos. A Análise Fatorial extraiu 6 componentes do controle interno, diferente do que estabelece a norma. Esses fatores explicam aproximadamente 70% da variância do controle interno dos órgãos, sendo o fator “Atuação e responsabilidades da alta gestão” o mais relevante. Há relação, em diferentes níveis da interação, entre controle interno e tamanho organizacional, não convergindo integralmente aos pressupostos da teoria contingencial, instigando a realização novos estudos na administração pública.

Top Management's Responsibilities

30 - Kaizen: Continuous Improvement

While Organizations today face a major challenge of attrition, it is becoming equally important to identify, nurture and retain talent. Organizational culture primarily needs to address these issues. While it's an accepted fact that, human resource in general, talented human resources in particular in an organization result in its distinctive competitiveness. The systems and structure in an organization has to support and encourage the existing talented human resources. Quite often it is apparent that the longevity of employment in an organization leads to employee loyalty where as various other factors play a major role to ensure the same. At various levels of organization it is the top management's responsibility to imbibe the philosophy of talent management across its length and breadth. Though HRM practices primarily aim at “right person at the right place”, quite frequently in organizations it is defocused either as “the right person at wrong place” or “wrong person at right place”. Talent Maze, the case study addresses the lacunae in Talent Management practices in an age old organization and their implications on the human talent thus providing an insight to the reader in to the right practices to be followed in talent management.

The role of top management in organizations managed in conformity with ISO 9001 Quality Management System (QMS) standard has been rising in importance. In view of this standard, leadership should play a fundamental role with regard to processes related to planning, support, operation, performance evaluation, and improvement. The aim of the article was to determine the effect of the ISO 9001 - Quality Management System standard on the responsibilities of top management with respect to the resources managed and processes carried out in the organization. Materials and methods: The study involved 30 enterprises in the food industry. The research participants were divided into two groups of equal size. One group included enterprises which have operated with a quality management system for at least seven years, whereas the other included organizations which have never been managed in conformity with the QMS standard. CAPI and PAPI techniques were used. For both of these quantitative methods an auctorial interview questionnaire was employed. Results: Indicators for all of the studied top management responsibilities (to the exclusion of demonstrating commitment to customer focus where both groups achieved the same results) bespeaking the commitment of top management to resource management and process completion were higher for the companies which had implemented an ISO 9001 QMS at least seven years prior to the study.