According to stakeholder and agency theories, what essential
components of corporate governance have you experienced in the
workplace? How does corporate governance affect the ethical climate of
the organization? If you have not experienced corporate governance
personally in a professional environment, speculate as to what the
essential components of corporate governance are in the professional
environment and how they affect the ethical climate.
Corporate governance is the structure of rules, practices, and processes used
to direct and manage a company. A company's board of directors is the
primary force influencing corporate governance; Corporate governance
covers the areas of environmental awareness, ethical behavior, corporate
strategy, compensation, and risk management. The basic principles of
corporate governance are accountability, transparency, fairness,
responsibility, and risk management.
I Work for the Orland Fire Protection District as a Finance Assistant. The
Orland Fire Protection District is a special taxing district that an elected
Board of Trustees governs. While the Fire District works closely with the
elected officials of Orland Park, Orland Hills, and Orland Township, it is a
separate governing body. The primary revenue source for the Orland Fire
Protection District is property taxes, accounting for nearly 90% of the
income. The remaining 10% comes from special fees and grants.
Over 163 employees are serving the community in a variety of positions. The
Orland Fire Protection District employs over 114 career firefighters trained
as paramedics. The District has a dispatching center and maintenance facility
that operates six fire stations throughout the area. The District holds an
Insurance Service Office (ISO) class one rating for fire protection. The ISO
places Orland Fire Protection District within the top 3% of the best fire
departments in the country. The Fire District has been awarded the
Government Finance Officer Association award for excellence in financial
reporting. Based on a survey of patients transported by the Fire District’s
ambulance, 95% of those who responded rated the responding paramedics as
excellent.
The Orland Fire Protection District follows a paramilitary organizational
model. Following the chain of command is critical in emergency scenes and
is followed in daily operations. All Chief Officers and line personnel are
civil service employees. Civilian personnel fills roles in administration,
dispatch, and fire prevention.
