YOU WERE LOOKING FOR: Aicd Exam Questions And Answers
As a daycare provider that is working alone, one of your three-year-old children isn't feeling well and lays down for a nap. After checking on the child, you notice they are not breathing and are blue in color. What would be the best step to take?...
The quality of presenters and the work that has gone into preparing the course material is utterly first rate. I must say I have also learned a great deal from the participants who are all business leaders in a wide range of fields, and it is the...
A very small percentage of the national graduates are awarded a distinction, however there is no feedback at all. I believe AICD will do something about this in the future. Some of the participants have agreed to continue to meet monthly, so we have created a group we called Chatham House, based on the application Chatham House rule. If you are after the original Chatham House group here which is home of the Royal Institute of International Affairs, is a world-leading institute for the debate and analysis of international issues.
In summary, an outstanding course and I highly recommend it to anyone that is either a director already or contemplating becoming one. Interestingly around one third of the participants in the course decided never to become a director due to the current liabilities that exist in those roles. This is an area that needs significant attention in our legal frameworks.
CPR aims to restore the beating and blood circulation, but not to restart the heart. What does CPR stand for? Cardiac passive resuscitation.
Her dissonance on returning home gracefully palpable: Today I am at the AICD governance summit and looking forward to more insights. Yesterday was great with many excellent sessions and valuable ideas. It struck me that the conversation was very much about avoiding and managing risks whereas in the USA we had focused on the leadership and strategic aspects of directorship. Boards need to add value and actively grow their companies as well as ensure compliance. That is why the shareholders elect us. Based on a book by Michael Useem and other serious scholars, the Wharton program is designed to showcase that latest thinking on how directors can make a leadership difference. The issue is not about the differences in American and Australian education Useem is outstanding but he is not representative of the current state of corporate governance scholarship in the USA. Rather, what is most troubling about that state of Australian director education is that it is theoretically underpinned by neo classical economics and not Australian company law.
Australian director education is a contradiction. It should be grounded in leadership and value creation and taught by serious scholars but it still firmly rooted in a neo-classical model of corporate governance that values managerialism and value protection above all else. This post seeks to trace the cause of the flaws to three factors: using the wrong law; the pretense of professionalism. A proposition confirmed over and over by Australian courts. More importantly, the courts readily acknowledge that corporations have interests independent of both shareholders and stakeholders. Sure, they can intersect. Finally, under Australian law no one owns a corporation a shareholder owns a chose in action called a share. It follows that the purpose of corporate law in Australia is to empower and enliven by providing a framework for the existence of an artificial but real entity, capable of transforming and dissipating socially useful energy in the form of value throughout society.
With him was an undeclared and invasive legal doctrine that would come to fundamentally compete with Australian corporate law - economics and law. Australian corporate law would be retooled in theory and practice in line with the radical idea that the purpose of the corporation was to maximise profits within the law. The counterparty to homo economicus with no interests other than to maximise the wealth of its shareholders. Since its earliest inception, Australian director education has been drawn from this late century legal tradition where corporations are considered as having no existence whatsoever and profits equal corporate purpose. Under the standard model imported largely from America, corporations are nominalised. Considered as nothing more than a nexus of contracts.
The purpose of corporate law and corporate governance in these jurisdictions is to provide a pro-forma contract and to manage agency costs on behalf of so called owners - owners vs managers, owners vs other owners and owners vs the rest of the world. If Australian law considers that corporations exist and are real albeit artificial and no one owns them, why are company directors taught a curriculum based on a foreign model that not only denies corporate existence but is based on the make believe idea that shareholders own corporations. This table illustrates just how far removed Australian director education is removed from Australian Corporate Law. They are diametrically opposite! Theory of Value Vs. Cotard's sydrome, also known as walking corpse syndrome, is a sometimes deadly psychological condition in which the affected person holds the delusional belief that they do not exist. Contradictions Teaching: Advocating Managerialism The first thing an Australian director is taught is that directors should not manage.
The next thing the director is taught is to embrace the ethos of a manager. Directors are taught monitoring and oversight, setting risk appetite, formulating risk tolerances, adopting standards, delegating responsibilities, establishing risk committees, implementing risk programs etc. Informed by neoclassical economics, a core assumption of the standard model is that but for corporate governance, managers will take off with the money. Three insights follow: First, there is a direct line between the pedagogy of director education and the maddening assumptions of neo-classical economics -ie. Second, there is little room in the pedagogy of director education for value creation because it is either taken as a given or outside the ambit of agency problems. Third, the idea that a director should guide and inspire the executive as a means to create value is opposed to the assumptions of agency theory.
The perverse implication of the theory, as manifested in teaching, is that directors are somehow conflicted if they are seen to be leading the executive rather than monitoring and challenging. In short, the standard model is a negative theory of corporate governance. The thinking is not designed to predict success. The problem is that corporations also fail when they do practice good governance. Like a broken clock, a theory that only predicts failure will occasionally be accurate. Worse still, not for profit directors and officers are being trained in a form of governance based on assumptions that are wholly inappropriate for the for purpose sector. The legislators did not assume value creation was assured. They were not fools. Whether by design or accident the iron clad laws of existence are expressed in section of the Corporations Act.
Again, value was to be created before it could be protected. And value was never intended to mean money. Interest is no less than energy it its socially useful form - value. Contradictions in Practice : The Pretense of Professionalism The third, and perhaps most dangerous aspect of director education, flows from the second contradiction. To teach an Australian model of value creation in the boardroom takes months if not years. What makes the standard model of corporate governance attractive to both directors and educators is that the basics of value protection are relatively simple and can be taught in a matter of days: Day One: The role of the board and the practice of directorship; and decision making. Day three: Risk and Strategy Day four: Financial literacy for directors and driving financial performance.
Day five: Board effectiveness and learning into practice. And what can you expect to take away on the final day? To an outsider, it comes across as a form of virtue signalling with questionable virtue. Unfortunately, this is not what disturbs most. The contradiction is that the pretense does not match the reality either for directors or the peak body. Company directors have fiduciary duties, personal responsibility for 1hundreds of laws, can be liable for the debts of their corporations and are exposed to civil and criminal prosecution in their role. Directors have all the obligations of professionals but none of the rights and protections that come with years of appropriate education that stand behind professional qualifications.
The only benefit is that unlike other professions, company directors do not seem accountable to their peak body. I hate to rain on your post nominal parade - but most, if not all, those people who have been grilled in front of Commissioner Hayne over the past months and who, one by one, have reluctantly admitted responsibility for the most unethical practices, hold membership of AICD in common. Now, the AICD cannot be held responsible for the conduct of those who pass its course or qualify for membership. AICD chief executive Angus Armour makes no mention of disciplinary action in his response to the final report. However, he does offer this. But director education being unregulated, there is no accountability from the AICD other than the occasional hand ringing.
Issues of measuring and assessing culture, cultivating effective board dynamics and strengthening remuneration governance may require additional resources. More broadly, it is time to consider the ways in which corporate Australia, including the director community, can promote professionalism, accountability and purpose. Not that this initial response inspires confidence. The greatest advantage of the standard model is also its biggest limitation.
Easy to teach but it has no theoretical depth from which to draw substantive solutions to the wicked problems exposed by the Commission. Indeed, what is proposed is arguably rooted in the same contradictions that led to the royal commission in the first place. The challenge is that the flaws in governance training are buried so deep and are so entrenched that I suspect no one within knows they are there. It was baked in on the first day. And even if they were looking and had the skills and knowledge required to see the legal flaws, it would be a brave person who dared to call it out the irony is not lost on me - as they say we teach what we need to learn?
The time is nigh for radical disruptive change in the corporate and non-profit boardrooms and the institutions that are charged with preparing directors for their challenging responsibilities. Though the thinking is not new and the warnings sounded long ago : The system is not designed to create value. Public companies have become over governed and under directed because corporate governance regulation and education is designed to ensure the "correct" board structure, process and composition rather than ensure "imagination, creativity, or ethical behavior in guiding the destinies of corporate enterprises" [vi].
Despite the assurances of the AICD , the frameworks for director education in this country are not fundamentally sound. They are built on two false assumptions that are at the root of a value crisis. Community trust will not be restored until director education is grounded in Australian corporate law.
Found a mistake? Click to rate this post! Further, get to know the types of ventilation advanced and basic and the techniques of placing the airways. These rules include guidelines for regularity, rate, waves, intervals, and complexes for all three cases. Adult Cardiac Arrest Algorithm — Use the infographic to gain knowledge about the steps to take in case of an adult cardiac arrest. Further, learn how about the quality of CPR you give, shock energy, return of spontaneous circulation ROSC , advanced airway, drug therapy, and reversible causes of cardiac arrest.
Post-Cardiac Arrest Care — Get a glimpse of what to do after a cardiac arrest has passed: optimize ventilation and circulation; preserve heart and brain tissue and function; and maintain recommended blood glucose levels. Learn how blood pressure support, vasopressors, and hypothermia help during post-cardiac arrest care. Adult Immediate Post-Cardiac Arrest Care Algorithm — Acquaint yourself with immediate post-cardiac arrest care elements, including ventilation and oxygenation, doses and its details, reversible causes of cardiac arrest, and steps to take in case of return of spontaneous circulation ROSC.
These rules include guidelines for regularity, rate, waves, intervals, and complexes for all cases. Further, also get a glimpse of symptoms of bradycardia. Adult Bradycardia with Pulse Algorithm — Use the infographic to gain knowledge about the steps to take in case of an adult bradycardia with pulse. Also, learn about the symptoms of tachycardia, and what to do in the event of tachycardia pulse being higher than BMP symptomatic. These rules include guidelines for regularity, rate, waves, intervals and complexes for all cases. Adult Tachycardia with Pulse Algorithm — Use the infographic to learn what to do in case of an adult tachycardia with pulse.
No comments:
Post a Comment