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Topic 17: An Assessment of the Quality of the Corporate Governance of Maybank & the impact on Maybank’s key stakeholders
Being a Skills and Learning StatementSubmission in: November 2014
Skills and Learning Statement
TABLE OF CONTENTS
Lessons Learnt from The Meetings with the Project Mentor
The Extent to which Research Objectives have been Met
Demonstration of Interpersonal and Communication Skills
Benefits of Undertaking the RAP
5. List of References 8
- Lessons Learnt from The Meetings with The Project Mentor
The first step I took before meeting my Project Mentor was to go through the information pack given to me by my college so that I will have a basic understanding about this project.
I decided to plan the topic and type of industry I was going to choose before the meeting. I selected my topic from a variety of twenty topics recommended by OBU. I glance through a few potential companies to do my research on, and finally narrowed it to Maybank. “Setting a goal is not the main thing. It is deciding how you will go about achieving it and staying with that plan” (Landry, Tom).
The first meeting I had with my Project Mentor was more of a question and answer session that revolved around the RAP’s strategy and approach.
My Project Mentor gave me some very good advice about how to complete this project within the time frame given. We also deliberated on the process of acquiring information and methods to overcome any obstacles that I may face while conducting my research.
I realised after the first meeting, that I am required to know how to reference my RAP correctly using the Harvard Referencing System in order to avoid plagiarism. “Referencing is a way to give credit to the writers from who you have borrowed words and ideas” (UNSW).
I felt more confident after the first meeting as I had a clear sense of the research restrictions such as ethical and moral issues which made me rethink my research strategy and approach.
The second meeting I had with my Project Mentor was after I submitted to her my drafted RAP. There were many deficiencies but mistakes are opportunities to learn just like the saying goes, “How could we have learn a better way of doing things, if we had never made mistakes?” (Akita, Lailah Gifty).
I realised after the second meeting that it was essential to make my graphs and charts more attractive and to have more concrete evidence in my RAP write-up. I became aware of the complexity of various business model and concepts, and ways to extract and apply the information gained.
I have to admit, I was a bit low in confidence after my second meeting as there were many areas in my RAP that required amendments. I started to doubt myself on whether I will be able to finish this project within the time frame given but I knew all I needed to do was to put in extra time and effort. There was no way I was going to let myself down. “The greatest accomplishment is not in never falling, but in rising again after you fall” (Lombardi,Vince).
The third meeting I had with my Project Mentor was very fruitful and my second draft RAP was much better than my first draft RAP. There were still minor problems with my RAP as I exceeded the word count, my paragraphs were not aligned and my style of referencing was wrong. I managed to overcome these minor obstacles and was finally satisfied with my RAP.
A week before my presentation day, I made it a point to practice my presentation speech daily in front of my family members to get over my stage fright and nervousness as well as to get their feedback so that I can improve even further. “Practice does not make perfect, perfect practice makes perfect” (Lombardi, Vince).
On the day of the presentation, I was no longer afraid or nervous and I managed to present very well and was really confident and sharp as I gave my presentation speech. I started off my presentation by providing a brief explanation about the reasons for selecting this particular topic and organisation. I went on to provide details about my chosen organisation’s corporate governance principles and its compliance with the MCCG 2012, as well as to benchmark it against its competitors’ corporate governance principles.
I came to realise that it is difficult to convince and connect with the audience. It is important to maintain eye contact and have the right body language in order to deliver a successful presentation. I learnt from my presentation session that practice makes perfect and the reason my presentation was close to perfection was because I practiced and worked very hard.
- The Extent of Research Objectives That Have Been Answered
As a whole, the research objectives that I set out to achieve at the beginning of this RAP was met although some research questions still remained unanswered owing to the insufficiency of information despite numerous attempts to gain it.
I was able to conduct a detail analysis for the first question, on the extent of which Maybank complied with the recommendations provided by the MCCG. Maybank was obliged to present a statement of corporate governance in regards to MCCG 2012.
I manage to come to a conclusion that Maybank did comply with MCCG 2012 for most of the recommendations although there is some small areas where Maybank can further improve.
It was difficult to evaluate certain information regarding Maybank which may be because Maybank was not very transparent. An example is, it remained unknown why the board meetings of Maybank continued to decrease each year from 2011 to 2013.
The second question, to identify each stakeholder and the impact of the corporate governance practices on Maybank was challenging. It is an easy task to identify the key stakeholders of Maybank as this can be done using the Mendelow’s Matrix. However it is difficult to link the corporate governance practices to the quantitative analysis of Maybank such as its financial performance.
I was able to evaluate Maybank’s non-financial performance to the extent of analysing Maybank’s employees’ satisfaction in terms of their work life balance, if the employees are well diversified and if Maybank has a good whistleblowing policy to protect its employees’. Maybank’s contribution to society was analysed to the extent of evaluating its contribution to students, to the victims of disaster and its contribution to art, culture and heritage.
- Demonstration of Interpersonal and Communication Skills
To demonstrate interpersonal and communication skills, it is very important to be confident. “With confidence, you have won before you have started” (Garvey,Marcus).
Interpersonal and communication skills include body language, listening skills, respectfulness and punctuality as listed below.
- Body Language
I came to realize during the course of this RAP that, without maintaining eye contact when talking to my Project Mentor or peers, I may convey the wrong message which may make them feel that I am not interested to engage in a conversation with them.
Henceforth, I always try to consciously remind myself to maintain eye contact when I communicate with my Project Mentor or peers. “My belief is that during conversations, it’s not so much what you say, it’s how you say it that matters. What’s being heard is secondary to what’s being seen, as body language leads the discussion and dictates the mood” (Kintz, Jarod).
- Listening Skills
I discovered the importance of listening to others after undertaking this RAP. It was during my first meeting when my Project Mentor briefed me about this RAP but I did not pay full attention and had to make her repeat herself a few times that I came to realize that it is very important to listen when someone speaks.
It was very important to me that I respect my Project Mentor and give her the respect she deserves since she is spending her valuable time to ensure I complete my RAP successfully. One way of the things I did was to give her privacy and ensure I always emailed her to set up our meeting and not show up unannounced.
Punctuality is very important as time is precious. I ensured that I was always on time for all my meetings with my Project Mentor and to submit my drafted copy of my RAP on time to my Project Mentor.
- Investigative skills
I was able to use my investigative skills that I never knew I had. This skill is used to get to-the-point information. It is important to have this skill in order to acquire detail information regarding my chosen organisation.
- Benefits of Undertaking the RAP
The two main benefits of undertaking the RAP are to help me in my accountancy studies and future employment.
By undertaking the RAP, it helped me understand my ACCA subject P1 better and gave me an upper hand over some of my other friends who did not pick this topic. It made it easier for me to relate to certain topics in P1 as I had done some extensive research relating to this topic while doing my RAP.
Moreover, this project has taught me about the importance of time management. It was very difficult to undertake this RAP and study at the same time. I decided to have a timetable in order to divide my time evenly between studying for ACCA and doing my research project. “The bad news is time flies, the good news is, you’re the pilot” (Altshuler, Michael).
By undertaking this RAP, I managed to read and understand the MCCG 2012 in great detail. I would not have gotten the chance to read the MCCG if it was not for this project. “The more you read the more things you will know. The more you learn the more places you’ll go” (Dr Seuss).
I was able to obtained valuable knowledge about the banking industry. By virtue of this project, I now understand the different factors that affect the performance of the banking companies.
In terms of future employment, I have managed to improve my IT skills as this RAP requires us to draw graphs and charts. This new skill that I have can help me in my job in the future. “It seems better to me for a child to have these skills and never use them, than not have them and one day need them” (Cashore,Kristin).
Another benefit is, by undertaking the RAP, I had to do a presentation and therefore I managed to develop presentation skills. I can use this skill if I am required by my future employer to give a presentation. I have now learnt different MS office application and various formatting techniques which will permit me to write a good report during my employment.
List of References
- Akita, L. G., n.d. Quotes about laerning from mistakes. [Online] Available at: http://www.goodreads.com/quotes/tag/learning-from-mistakes [Accessed September 2014].
- Altshuler, M., n.d. Quotes about time management. [Online] Available at: http://www.goodreads.com/quotes/tag/time-management [Accessed September 2014].
- Cashore, K., n.d. Quotes about skill. [Online] Available at: http://www.goodreads.com/quotes/tag/skill [Accessed September 2014].
- Garvey, M., n.d. Confidence quotes. [Online] Available at: http://www.brainyquote.com/quotes/keywords/confidence.html [Accessed September 2014].
- Kintz, J., n.d. Quotes about body language. [Online] Available at: http://www.goodreads.com/quotes/tag/body-language [Accessed September 2014].
- Landry, T., n.d. Plan Quotes. [Online] Available at: http://www.brainyquote.com/quotes/keywords/plan.html [Accessed 2014 September].
- Lombardi, V., n.d. Brainy Quote. [Online] Available at: http://www.brainyquote.com/quotes/quotes/v/vincelomba121343.html [Accessed September 2014].
- Lombardi, V., n.d. Famous quotes about practice. [Online] Available at: http://www.famous-quotes.com/topic.php?page=1&total=40&tid=927 [Accessed September 2014].
- Seuss, D., n.d. Quotable Reading Quotes. [Online] Available at: http://www.readingrockets.org/books/fun/quotable [Accessed October 2014].
- UNSW, n.d. Why is referencing important. [Online] Available at: http://www.lc.unsw.edu.au/plagiarism/citation.html [Accessed September 2014].