Hilton hotels Corporate Governance Essay

Hilton Hotels and Resorts is an international chain of full service hotels and resorts and it’s a flagship brand of Hilton Worldwide. The original company was founded by Conrad Hilton and is now owned by Hilton Worldwide. Hilton hotels are owned, managed, or franchised to independent operators by Hilton Worldwide. Hilton Hotels became the first coast-to-coast hotel chain of the United States in 1943. As of 2013, there are now over 540 Hilton branded hotels across the world in 78 countries across six continents. The Hilton Hotels brand remains one of the company’s flagship brands and one of the largest hotel brands in the world. The company places marketing emphasis on both business travel and leisure travel with locations in major city centers, near airports, convention centers, and a number of vacation resorts and leisure-oriented hotels in popular vacation destinations around the world. Since being founded in 1919, Hilton Worldwide has been a leader in the hospitality industry. Today, Hilton Worldwide remains a beacon of innovation, quality, and success. And it comprehended the importance of corporate governance and formulated very systematic corporate governance guidelines. And I have disseminated its corporate governance in India, United States and United Kingdom. CORPORATE GOVERANCE AND ITS IMPORTANCE: The system of rules, practices and processes by which a company is directed and controlled. Corporate governance essentially involves balancing the interests of the many stakeholders in a company – these include its shareholders, management, customers, suppliers, financiers, government and the community. Since corporate governance also provides the framework for attaining a company’s objectives, it encompasses practically every sphere of management, from action plans and internal controls to performance measurement and corporate disclosure. Corporate governance became a pressing issue from 2002 introduction of the Sarbanes-Oxley Act in the U.S., which was ushered in to restore public confidence in companies and markets after accounting fraud bankrupted high-profile companies such as Enron and WorldCom. Most companies strive to have a high level of corporate governance. These  days, it is not enough for a company to merely be profitable; it also needs to demonstrate good corporate citizenship through environmental awareness, ethical behavior and sound corporate governance practices. HILTON WORLDWIDE’S CORPORATE GOVERNANCE: Hilton Worldwide has divided its division of corporate governance into four major classifieds, such as guidelines, Code of conduct, Ethical code, and management. These are clearly explained below: HILTON WORLDWIDE CORPORATE GUIDELINES: The Nominating Corporate Governance Committee of the Board of Directors (the â€Å"Board†) of Hilton Worldwide Holdings Inc. (the â€Å"Company†) and the Board have developed, and the Board has adopted, these governance guidelines, which describe the principles and practices that the Board is expected to follow in carrying out its responsibilities. It is expected that these guidelines will be reviewed by the Governance Committee from time to time to ensure that they effectively promote the best interests of both the Company and the Company’s stockholders and that they comply with all applicable laws, regulations and the requirements of the New York Stock Exchange and other national stock exchanges of its incorporation. These guidelines should be interpreted in the context of all applicable laws and the Company’s Certificate of Incorporation, bylaws and other corporate governance documents (each as amended, restated and in effect). These guidelines are intended to serve as a flexible framework within which the Board may conduct its business and not as a set of legally binding obligations. The Board may modify these guidelines from time to time. It provides guidelines on Board roles and responsibilities Board composition, structure, policies Board meetings Exceptions of Directors Management succession plan Evaluation of board performance Board composition Communication with non-managing directors CODE OF CONDUCT: Statement of Policy The reputation of Hilton and each of our Hotels is the key to our past, present and future success. Every Team Member is personally responsible to act with integrity to enhance Hilton’s reputation as well as to maintain a desirable work environment. Integrity means doing what’s right, all the time, and encouraging those around us to do the same. In some instances, the Code of Conduct contains rules that must be strictly observed, and in other instances it provides general guidelines. In all instances, compliance with the Code of Conduct is required. We expect Team Members to uphold the highest standards of ethical conduct in every action taken on Hilton’s behalf. Team Members must not only avoid improper activities, but also activities that create the appearance of impropriety. This Code of Conduct provides guidance about how Hilton and Team Members must work together to achieve the highest ethical standards in the hospitality business. This Code of Conduct is applicable to all employees of Hilton Worldwide, Inc. and its subsidiaries and to the employees of all hotels owned, operated or managed by Hilton Worldwide , whether or not they are employed by Hilton Worldwide. The code of conduct provides policies on the following Personal accountability Respecting and valuing diversity Maintaining harassment free work force Maintaining safe and healthy work space Drug and alcohol free workspace Violence- free workspace Restricting unacceptable behavior Business ethics Personal investment of employees Policies for conflict of interest Personal information privacy policy of employees, customers, etc. Family members and relationship Outside business and employment Reportable interests Financial obligation Business courtesies Proprietary, confidential and trade secrets Maintaining global corporate citizenship These are crucial aspects covered in code of conduct of Hilton worldwide. PRIME FEATURES OF INDIAN, UK, US CORPORATE GOVERNANCE: An effective board to provide leadership †¢ A single board with members collectively responsible for the long-term success of the company. †¢ A clear division of responsibilities for running the board and running the company with a separate chairman and chief executive. †¢ An appropriate balance of skills, experience and independence on the board and its committees. †¢ Formal and transparent procedures for appointing directors, with all appointments and re-appointments to be ratified by shareholders. †¢ Regular evaluation of the effectiveness of the board, its committees and individual directors. Accountability The board must present a balanced assessment of the company’s position. The board must determine the nature and extent of the significant risks it is willing to take, and oversee sound risk management and internal control systems. Formal and transparent procedures for carrying out these responsibilities, including an audit committee made up of independent directors and with the necessary experience. Remuneration Formal and transparent procedures for setting executive remuneration, including a remuneration committee made up of independent directors and an advisory vote for shareholders. A significant proportion of remuneration to be linked to performance conditions designed to promote the long-term success of the company. Relations with shareholders Regular contact with shareholders to understand their opinions and concerns. Separate resolutions on all substantial issues at general meetings. Shareholders to monitor and engage with the companies in which they invest. Insider trading law in US: Section 17(a) of the Securities Act,1933 prohibits fraudulent practices with the offer or sale of any security SEC Rule 14e-3, under Section 14(e) of the Exchange Act and Insider Trading Act, 1984 (ITSA) permits the SEC to bring suit against anyone violating the Exchange Act by â€Å"trading a security while in possession of material nonpublic information.† ITSA provides for penalties of up to three times the profits gained or loss avoided by the insider trading and authorizes a criminal penalty for insider trading of up to $100,000. Last few years have been significant strengthening of corporate governance in India. Hilton worldwide is listed in Indian stock exchange regulators and it adopts the guidelines of SEBI and MCA in India. Key aspects are mentioned below: Share Holding pattern Committee of corporate governance Yearly corporate governance report CONCLUSION: Since the Wall Street crash in 1929 and recent Lehman Brothers scandal, with every corporate scandal, corporate governance in corporate world is getting better. And the field of corporate governance has attracted great attention and enhancements in almost all facets. Hilton Worldwide is maintaining its market leadership with a well-structured corporate governance policies and practices. As Hiltons business based on hospitality, it’s very crucial to satisfy its stakeholders and corporate governance plays a crucial part in doing so.

African American Studies Essay

The three topics I have picked for this reaction paper are â€Å"Hurricane Katrina, The Bombing Of Black Wall Street And Gangs†. I’ve picked these topics because I believe that to this day everything is still about being in control, racism and a touch of slavery which leads to gangs. Hurricane Karina: was the costliest and one of the deadliest hurricanes in the history of the United States. Most notable in media coverage were the catastrophic effects on the city of New Orleans, La. , and coastal Mississippi. Criticism of the federal, state and local governments’ reaction to the storm was widespread. The bombing of Black Wall Street: community was the sight of a happy, affluent Black community but was too much for angry, jealous Whites in Tulsa, Okla. , in 1921, a false rumor was enough to spark a mass riot that left hundreds of African Americans dead, and a swath of black homes and business burned to the ground. The saddest fact associated with this historic atrocity is that the U. S government and local media were complicit in the death and destruction. Gangs: the word â€Å"gang† comes from â€Å"gonge† a term meaning a journey, but later referring to a â€Å"gonge† of sailors in the fifteenth century. Gangs originally began in the 1800’s which meant kids of the street. But US had other predecessors than unsupervised street urchins. There were four kinds of gangs which were predecessors of the street gangs of today 1. Secret Societies, 2. Gangs of outlaws and in the Wild West, 3. Racist like the Ku Klux Klan, and 4. â€Å"Voting Gangs† tied mainly to the Democratic Party in large cities. Many gangs if armed men were racially mortivated. Racial tensions in the cities like New York were constant, and racist conflict was almost everywhere more violent than nativism.. On May 31. 921 a nineteen year old Black male accidentally stumbled on a bumpy elevator and bumped into a seventeen year old White elevator operator who screamed. The frightened young man was seen running from the elevator by a group of Whites and by the afternoon the â€Å"Tulsa Tribune† reported that the girl had been raped. Despite the girl’s denial of any wrong doing, the young man was arrested and a large mob of 2000 White men came to the jail to lynch the prisoner. With a defenseless Black community before them, the white mob advanced to the greenwood district where they first looted and then burned down all Black business, homes, and churches. Any black resisters were shot and thrown in fires. That’s how it became â€Å"The Bombing of Black Wall Street†. It all comes to what’s going on now with, if you are in a gang you can’t go in one neighborhood if you are not affiliated with that neighborhood gang, just like back in then when blacks wasn’t allowed in white people areas or if blacks were allowed, they were segregated. After the Tulsa riot, White inhabitants tried to buy the Black property and force the Black people out of town. No Tulsa bank or leading institution would make loans in the riot-marred Greenwood district, and the city refused all outside assistance. However, racial pride and self determination would not permit the Greenwood owners to sell. Since African Americans could neither live among Whites as equals nor patronize White business in Tulsa, Blacks had to develop a completely separate business and community, which soon became prosperous and legendary. Black dollars invested in black community also produced self-pride, self –sufficiency, and self-determination.

Asylum Seeker Children in Need Essay Example | Topics and Well Written Essays - 500 words

Asylum Seeker Children in Need - Essay Example ri Lanka, FRY (Former Republic of Yugoslavia), Afghanistan, Turkey, Pakistan, China, India and Iran, in that order, were the countries most of these applications came from. Despite the large number of immigrants seeking leave to enter and stay, only a minority get awarded the refugee status or exceptional leave to remain. A major challenge is presented in terms of meeting the needs of these immigrants and refugees is their children’s access to education which is part of their statutory rights. In a highly competitive environment, these children may be considered a potential threat to school standards and levels of achievement, by institutions and educational establishments. However, schools are given the option to exclude asylum-seekers’ and refugee pupils’ scores from the schools’ overall performance indicator if these individuals have been in the country for less than two years. The same exclusion law applies to anyone whose first language of instruction is not English. Such a policy can bring a good change if it seeks to help such students be welcomed and accepted at their respective institutions without the apprehension of the schools as to the hampering of school performance. However, on the flip side, such a decision might also result in the schools taking a lax attitude towards these children and deem them unfit for similar prospects as the other, regular students. The fact is that more than the basic needs of these children need to be catered to, as evidenced by the data that shows that children of refugees/asylum seekers are often victims of racial hatred, with the local communities often treating them as pariahs. Globalization is a reality of our times, as well as having a long history, and it is a good idea to see its process vis-Ã  -vis the challenges of asylum. It is because of globalization that people from a certain area in the world decide to move to another area, despite the financial burden thereof. What is more, such people always

Proctor and Gamble Term Paper Example | Topics and Well Written Essays - 2500 words

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Financial Reports of McDonalds Assignment Example | Topics and Well Written Essays - 1000 words

Financial Reports of McDonalds - Assignment Example This paper discusses McDonalds’ 2013 annual report with focus on the company’s operations, income statement, balance sheet, and cash flow, and ratio analysis. Accounting information, often summarized and communicated in annual reports, is important to different stakeholders to an organization. This paper reviews and reports on McDonalds’ annual report for the year ended 2013 with focus on the company’s operations and financial statements. The discussion identifies positive prospects in the annual report but offers reservations on the company’s long-term stability due to overreliance on external funding. One of McDonalds’ operational activities in the accounting year ended 2013 was realignment of its subsidiaries, efforts that begun in the year 2005. The operations were geared towards two major goals, to realign the subsidiaries to external environments in the areas of operations and to realign the subsidiaries to the company’s global perspective. Theses aimed at attaining a desired corporate image by the company. The company also operates in two scopes, through its managed subsidiaries and though its franchises. Its branches however obtain commodities and services from independent suppliers but quality assessment centers exist to ensure threshold standards in all of the company’s outlets. The company’s operations also include collaboration with suppliers to facilitate efficiencies through innovation, outstanding practices, and continuous improvements. The company offers a standard menu to its customers though a level of variation may exist to accommodate geographical diversity around its outlets. It also offers seasonal products but majorly on promotions. Monitoring and evaluation of newly developed products also form a major aspect of the company’s operations. Research and development is another significant area of the company’s operations and research and development facilities exists in the United States, Europe, and

Rama Plaza Building Collapse Essay Example | Topics and Well Written Essays - 750 words

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Public argument Essay Example | Topics and Well Written Essays - 750 words

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