The Exploration of How the Failure to Manage a Firm’s Overall Control Environment can be Harmful to its Operations– The Case Study of DSME

Topic

The Exploration of How the Failure to Manage a Firm’s Overall Control Environment can be Harmful to its Operations – The Case Study of DSME

Instructions

Using the case of DSME, discuss The Exploration of How the Failure to Manage a Firm’s Overall Control Environment can be Harmful to its Operations.

Answer preview

The government has a crucial role in the operations of a business. DSME’s problems can be linked to the government’s laxity to monitor its activities (Martin, 2019). The Korean government failed to check on the progress of affairs in the company. The government’s roles toward the business are well elaborated; for instance, through the Trade Practices Act, the government must scrutinize all the operations in a firm. This move enables businesses to operate within the restrictions of the legislative framework. Fraudulent activities and financial manipulation took place at DSME under the watch of the Korean Government. Instead, the government would have used its agencies and personnel, as the government auditor, to monitor the company’s activities.

Word count: 2369

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