MEMORANDUM
TO: Ms. Manager
FROM: Mr. Magoo
DATE: June 24, 2013
SUBJECT: CFO/SEC Crisis Management
CC: Crisis Team
In response to the current crisis regarding the resignation of Mr. Shady and the impending SEC investigation, we need to focus on correcting the situation and restoring credibility. Despite our lack of information, we must assure interested parties including stakeholders, customers, and employees of our intended actions and our continued operations. As part of the crisis management team, we should be aware of our legal requirements, ethical considerations, and public communications.
As a publicly traded company, we have a legal obligation and a responsibility to our stakeholders to disclose material information or knowledge that may affect our stock market price to the appropriate parties (Seitel, 2011). The SEC requires material announcements to be widely distributed and the Sarbanes-Oxley act requires this information to be included in our financial statements (Seitel, 2011). The resignation of our CFO requires us to make a public announcement within 24 hours as this information may affect our stock (Seitel, 2011).
After many years of building our organization’s credibility, we do not want this situation to affect negatively the public’s opinion of our company. Continuing to keep our positive corporate image is extremely important. We need to take every measure possible to maintain this representation while upholding our ethical standards and performing our legal responsibilities.
The value of public communication in this situation is essential. We should create a press release immediately to dissuade any rumors of inappropriate behavior by our organization and calm the public (Seitel, 2011). Our steps to alerting the public should be to define the risks, describe our actions to reduce the risk, name the cause of the risk, display management action, and create a consistent message (Seitel, 2011). Additionally, we will need to convey a clear message and not speculate on information we do not know (Seitel, 2011). We do know that Mr. Shady has
Related Documents: Crisis Regarding The Resignation Of Mr. Shady And The SEC Crisis Management
ASSIGNMENT 1 1. The whole concept of the memo is to serve as a guideline to be followed when a valued employee of the company quits his/her job. But never is there any distinction made as to who qualifies as a valued employee, and who does not. This could potentially lead to a whole lot of ambiguity, confusion, and wasted effort. 2. This memo is meant to serve as a formal policy on resignation. But then again there is no clarity if it is in regards to the entire employee population, or a certain…
analysis Causes The lack of communication between shop floor employees and upper managers occurred at the Aluminum Elements Corp, and it negatively influenced employees’ performance of their job such as misunderstanding instructions from superiors. Consequently, the lack of communication made employees feel dissatisfactory with supervisors, which broke the good working relationship within employees and managers at AEC. The main reason of causing this problem is that inappropriate use of communication…
Organisational Behaviour FLEX TIME Case Analysis Group Members Summary of the Facts Electro Electronics was an electronic research firm established in 1948 and was based in Houston, Texas. Over time, the firm grew into a product area of electronic test instruments and commercial building control systems. Despite these changes, the firm was still involved in contract work. Mr. Fred Codova was the President of the company at this time. Due to severe traffic problems the implementation…
accounting setting. Students are exposed to various topics related to interpersonal and group communications within the context of applications to the accounting field. Students will develop skills in the forms of written communication, including memos, e-mails, business letters, and reports. Other topics include communication ethics, collaboration, information utilization, critical thinking, and professional competence and values. Policies Faculty and students/learners will be held responsible…
should have more clients in all different kinds of businesses and the Adverts it produces must be innovative from the other Advertising agents. This decision is made and monitored by the top level management of the organization like the CEO, General Manager, Board of Directors and Managing Directors. They are the people involved in making these decisions and to keep the organization in the right path towards achieving those decisions. Normally the strategic level decisions are made considering more…
Web. 13 July 2012) (Associated Press. Space Shuttle Challenger Wreckage Entombment; About. com; Web. 13 July 2012) Roger Boisjoly wrote a memo addressing his concern with the possibility of O-rings that were vital in the safe launch of the Challenger space shuttle. Boisjoly was an engineer for Morton Thiokol, the manufacturer of those very O-rings. His memo was well written, with a clear layout and was directed to the proper recipient for effective action in such circumstances. The subject matter…
“young, strong man, early twenties, who has an Italian background and no history of criminal offences”. John had worked for Tiger Resources for about 1 year, but never signed an employment contract. Eric is 65 and has worked as a field operations manager (under an employment contract) for Tiger Resources for 25 years. Eric is familiar with all aspects of a drilling rig operation, and has supervised many employees over the years. Despite the fact that Tiger Resources, a private company of about 200…
Law and Corporate Managers – Prof. Larry Franklin Question Two A. (i) For refusal In order to honor the LC, the Seller has to comply exactly with the terms of the letter of credit. There are numerous typo errors in the LC and misspellings of the destination port and the Seller name, hence only a waiver of the discrepancies from JFTC will enable Bank of China to pay the Seller. As long as the waiver is not received, the BOC cannot make any payments. BOC has to state why it is not going to…
Merger Memo Learning Team B: Kathryn Alvino, Nadia Ge, Delores Jones, Wanda Soderberg-Beck University of Phoenix Author Note: This paper is being submitted on January 30, 2015, for Dr. Kale Kruger’s HCS/514 Managing in Today’s Health Care Organizations course. Merger Memo MEMORANDUM TO: All Employees FROM: Management Team DATE: January 30, 2015 SUBJECT: Healthcare International Organization Merger…
of communication is when 2 people talk on the phone, an example of verbal communication is when the manager has an issue with an employee he would resolve this issue by talking with his/her employee. Or another example would be when an employee is sick he/she would ring in to his/her work place and call in sick. Written Communication: Written communication is when someone writes a letter or memo to someone else, emails can also be seen as a type of written communication, an example of written communication…