MAF302 CORPORATE FINANCE The Qantas Group CSR ä»£å†™
MAF302 CORPORATE FINANCE Trimester 2, 2017Department of Finance 1ASSESSMENT 1INDIVIDUAL WRITTEN REPORTDue Date Monday 21 August 2017 at 5.00pmWeightage 20%Word Limit 2000 wordsTheme Corporate governance & corporate social responsibilityThe Qantas GroupBackgroundFounded in the Queensland outback in 1920, Qantas has grown to be Australiaâ€™s largestdomestic and international airline. Qantas is widely regarded as the worldâ€™s leading longdistance airline and one of the strongest brands in Australia. It has built a reputation forexcellence in safety, operational reliability, engineering and maintenance, and customerservice.The Qantas Groupâ€™s main business is the transportation of customers using twocomplementary airline brands â€“ Qantas and Jetstar. It also operates subsidiary businesses,including other airlines and businesses in specialist markets, such as Q Catering. The Groupâ€™sbrands operate regional, domestic, and international services. Its broad portfolio of subsidiarybusinesses ranges from Qantas Freight Enterprises to Qantas Frequent Flyer.As at 30 June 2016, the Qantas Group employed over 30,000 people with approximately 92per cent of them based within Australia.Source: http://investor.qantas.com/home/?page=about-the-qantas-groupThe Qantas Group websiteMAF302 CORPORATE FINANCE Trimester 2, 2017Department of Finance 2Your TaskYou are a financial analyst at a family office of Jones family â€“ an ultra-high net worth familyin Australia. After a discussion with a portfolio manager, Mrs Jones is considering to includethe Qantas Group (ASX ticker: QAN) in her share portfolio, given the firmâ€™s resilient financialperformance in recent years. She supports firms with a broader corporate objective â€“ thosethat not only maximize shareholdersâ€™ wealth, but also care for their stakeholders, such astheir customers, employees, the society, and the environment. She has a particular interestin the board structure of firms and whether corporate governance and compensationpackages are helpful in aligning the interests of managers to those of shareholdersâ€™. She isalso concerned with Qantasâ€™s corporate governance and corporate social responsibility,especially after previous episodes of industrial disputes with trade unions, which resulted inan attention-grabbing incident in October 2011.Mrs Jones wants you to write up a report about Qantasâ€™s corporate governance andcorporate social responsibility addressing the following points, issues or questions:A. Corporate governance â€“ compensation package and internal control1. The board of directors and its suitability:ï‚§ Does the composition of the board reflect diversity? Is the board independent? Dothe directors have sufficient qualification, time, and resources for Qantas?2. Executive compensation and its effectiveness:ï‚§ Briefly outline the compensation package of Qantasâ€™s CEO and top management.Does the performance of the board meet their target? How is Qantasâ€™sperformance in terms of total shareholder return (TSR) compared to the industryor a relevant benchmark? What is the role of the remuneration packagecommittee?3. Disclosure, audit, and shareholdersâ€™ rights:ï‚§ What is Qantasâ€™s policy on information disclosure and audit? What is the role of theAudit Committee? Who is the external auditor? How does Qantas protect itsshareholdersâ€™ rights?4. Risk management:ï‚§ How does Qantas manage its business risks in general?B. Corporate social responsibility1. Environmental impact:ï‚§ How does Qantas manage its negative impact on the environment from itsoperations? What are Qantasâ€™s initiatives and policies in this aspect?2. Employees:ï‚§ How does Qantas treat its employees? What are the human resource policies?What was the incident (in October 2011) to which Mrs Jones refer?MAF302 CORPORATE FINANCE Trimester 2, 2017Department of Finance 33. Society and customers:ï‚§ What are Qantasâ€™s contributions to the society? How does Qantas care for itscustomers?In particular, Mrs Jones wants to know your opinion on whether Qantasâ€™s business operationsare sustainable and satisfy the industry standard in terms of corporate governance andcorporate social responsibility based on your research and analysis. Apart from the mainpoints listed above, your report should include other important issues related to Qantasâ€™scorporate governance and corporate social responsibility.Mrs Jones is quite well educated in finance and prefers reader-friendly financial articleswritten in a professionally manner. She expects your analysis to be rich in information andwell structured. It should contain main points with the relevant descriptions and evidencefrom reliable sources or references. She also appreciates tables and/or graphs if they help toillustrate the main points.Helpful resourcesï‚§ Qantasâ€™s (i) annual reports, (ii) annual reviews, and (iii) corporate governance statements.ï‚§ Lectures & Seminars 1 and 2 about corporate governance & corporate social responsibility.ï‚§ KPMGâ€™s reports (amongst others) on corporate governance help in providing a broad, real-world perspective on the topic.ï‚§ Reports or opinion pieces written by financial analysts and/or portfolio managers.ï‚§ Newspaper articles (e.g. The Age) and financial press (e.g. The Australian Financial Review)ï‚§ Online search engines, such as Google and Yahoo.Hintsï‚§ You may discuss the main points with other students, but your report should be unique.ï‚§ Do not copy the original texts directly from another source (e.g. a report or article) withoutrewriting or paraphrasing them.Learning Outcome DetailsUnit Learning Outcomes (ULOs) Graduate Learning Outcomes (GLO)ULO1: A sound understanding and an abilityto apply relevant theoretical and practicalfinancial knowledge.GLO1: A broad understanding oftheoretical and practical knowledge in theFinance disciplineULO2: An ability to communicateinformation effectively in a written form.GLO2: An ability to effectivelycommunicate financial information andknowledge in oral and/or written form to abroad range of audiences.ULO3: An ability to evaluate and criticallyanalyse relevant data and information.GLO4: An ability to evaluate and criticallyanalyse data and information to aidcorporate decision making.ULO6: An appreciation for the importance ofsustainable development, corporategovernance, and/or corporate socialresponsibilities.GLO8: A recognition of the value ofsustainable development and corporatesocial responsibility.MAF302 CORPORATE FINANCE Trimester 2, 2017Department of Finance 4InstructionThis assignment is to be completed individually. There is a word limit of 2000 words for thisassignment.SubmissionAn electronic copy of the final report has to be uploaded to the unit website on Cloud Deakinby 5.00pm, 21 August 2017.If possible, please submit well before the cut-off time as you may experience high traffic closerto the cut-off time. The uploaded soft copy in CloudDeakin will be considered the official copyand it is the time of upload of this copy that will determine whether the assignment issubmitted on time. Hard copies will not be accepted.The assignment should be prefaced by an assignment cover sheet that contains your nameand student ID. Hand-written signature is not necessary. By submitting this coversheet, youacknowledge your awareness of plagiarism and its consequences.Late submission
MAF302 CORPORATE FINANCE The Qantas Group CSR ä»£å†™The following marking penalties will apply if you submit an assessment task after the due datewithout an approved extension: 5% will be deducted from available marks for each day up tofive days, and work that is submitted more than five days after the due date will not bemarked. You will receive 0% for the task. â€˜Dayâ€™ means working day for paper submissions andcalendar day for electronic submissions. The Unit Chair may refuse to accept a late submissionwhere it is unreasonable or impracticable to assess the task after the due date.Extensions can only be approved by the Unit Chair (Dr Tze Chuan â€˜Chewieâ€™ ANG). Extensionscan be granted for documented serious illness (not just on the day the assignment is due) orfor compassionate reasons under extenuating circumstances. The unit chair can ask to seehow much work has been completed before granting an extension. Work or holiday reasonsare NOT grounds for an extension â€“ you are expected to manage these issues as part of yourstudies. You are strongly encouraged to start early and to continually backup your assignmentas you progress. Computer crashes or corrupted files will NOT be accepted as valid reasonsfor an extension of any length. For further information about Special Consideration, visithttp://www.deakin.edu.au/students/assessments/special-consideration.Assessment FeedbackStudents who submit their work by the due date will receive their marks and feedback within15 business days of the due date. You will also receive a marking rubric, which can also beused as a guide to the expected scope when you answer the assignment questions.TurnitinStudents are strongly recommended to check originality through Turnitin, prior to submittingthe final assessment. For more information about Turnitin and how to check for originality,refer to the Deakin website information at:http://www.deakin.edu.au/learning/cloud-learning/clouddeakin/guides/assessment/turnitin-plagiarism-and-grademarkMAF302 CORPORATE FINANCE Trimester 2, 2017Department of Finance 5ReferencingYou must correctly use the Harvard style of referencing in this assessment.Academic Integrity, Plagiarism and CollusionPlagiarism and collusion constitute extremely serious breaches of academic integrity. Theyare forms of cheating, and severe penalties are associated with them, including cancellationof marks for a specific assignment, for a specific unit or even exclusion from the course. If youare ever in doubt about how to properly use and cite a source of information, consult yourlecturer or the Study Support websitehttp://www.deakin.edu.au/students/study-support/referencing.ï‚§ Plagiarism occurs when a student passes off as the studentâ€™s own work, or copies withoutacknowledgement as to its authorship, the work of any other person or resubmits theirown work from a previous assessment task.ï‚§ Collusion occurs when a student obtains the agreement of another person for a fraudulentpurpose, with the intent of obtaining an advantage in submitting an assignment or otherwork.Work submitted may be reproduced and/or communicated by the university for the purposeof assuring academic integrity of submissions (http://www.deakin.edu.au/students/study-support/referencing/academic-integrity.Can I recycle my own work?Deakin students are not permitted to recycle their assessment work, or parts of assessmentwork, without the approval of the unit chair of their current unit. This includes work submittedfor assessment at another academic institution. If students wish to reuse or extend parts ofpreviously submitted work, then they should discuss this with the unit chair prior to thesubmission date. Depending on the nature of the task, the unit chair may permit or declinethe request.Assignment submission back-upYou must keep a backup copy of every assignment you submit, until the marked assignmenthas been returned to you. In the unlikely event that one of your assignments is misplaced,you will need to submit your backup copy. Any work you submit may be checked by electronicor other means for the purposes of detecting collusion and/or plagiarism. When you arerequired to submit an assignment through your Cloud Unit Site, you will receive an email toyour Deakin email address confirming that it has been submitted. You should check that youcan see your assignment in the Submissions view of the Assignment Dropbox folder afterupload, and check for, and keep, the email receipt for the submission.MAF302 CORPORATE FINANCE Trimester 2, 2017Department of Finance 6Building evidence of your experiences, skills and knowledge(Portfolio)Building a portfolio that evidences your skills, knowledge and experience will provide you witha valuable tool to help you prepare for interviews and to showcase to potential employers.There are a number of tools that you can use to build a portfolio. You are provided with cloudspace through OneDrive, or through the Portfolio tool in the Cloud Unit Site, but you can useany storage repository system that you like.Remember that a Portfolio is your tool. You should be able to store your assessment work,reflections, achievements and artefacts in your Portfolio. Once you have completed thisassessment piece, add it to your personal Portfolio to use and showcase your learning later,when applying for jobs, or further studies. Curate your work by adding meaningful tags toyour artefacts that describe what the artefact represents.MAF302 CORPORATE FINANCE The Qantas Group CSR ä»£å†™
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