Organizational Culture in Libraries Essay Example for Free

Organizational Culture in Libraries EssayAssignment TopicOne of the master(prenominal) ways in which the veil of incorporation can be lifted is when managing directors desecrate their duties. This essay head teacher is set around the duty to prevent insolvent merchandise. You will need to have read the chapter in your prescribed text that deals with this duty and have then researched more widely by looking at other textbooks, the relevant CCH online library, articles from the internet and journal articles. You must answer both parts of this topic. Please strike sure you have REFERENCED in the body of your work ACCURATELY,. Remember, referencing shows you have researched and thought about what real(a) will be relevant to assist you in answering the questions.Read the following scenario and answer some(prenominal) parts (questions) at the end.OHS Solutions Pty. Ltd. is a company formed by three friends (Des, Satish and Emma) who bring different skills and abilities to the business. Emma is an account graduate, Des has expertise in occupational health and safety (OHS) and Satish has an IT degree. They decided to start up a business which would provide a portal through which the public and businesses could access (for free) information on exclusively aspects of OHS. OHS Solutions would finance its business, and doctor profits, by charging businesses to advertise via their website. The directors of OHS Solutions areManaging film director DesFinance Director Emma (non executive)Director Satish (executive employed also to run the technological side of the business) Director Ying (non executive) a friend of Des and director of Support Pty. Ltd. (Support Pty. Ltd. has gone guarantor for a $50,000 loan from the Business Bank Ltd. to OHS Solutions)The Shareholders of OHS Solutions (holding equal amounts of ordinary shares) are Des, Emma, Satish and Support Pty. Ltd.As at January 2007 OHS Solutions had been operating for six months. It hadsome initia l IT problems which prevented some of the advertisers material from creation accessed. In order to try to help everyplacecome these technical problems Satish engaged Trouble Shooters Pty. Ltd.At the February panel meeting, Satish reported that two businesses who had paid to advertise on the website were dissatisfied with what was happening and were threatening to sue for breach of contract. Emma was unable to table any financial information as the employee who had been doing the accounts had been sick and when Emma looked at the records she found that they seemed to be in a bit of a mess. She did find a large account from Trouble Shooters that was over due. Des reported that he was disturbed by this news.He had been told by Satish that the IT problems had been fixed since Trouble Shooters had been engaged, and he had just signed a $10,000 advertising contract with Promotions Plus Pty. Ltd. to advertise the website and signed up to go to a trade show to be held in conjunction with a forthcoming OHS conference. He verbalise this was needed because a number of high profile advertisers were threatening to discontinue their association with OHS Solutions unless the portal became develop known.Ying just listens in disbelief at the March Board meeting. It seemed to her that OHS Solutions is being poorly managed and is failing to make the most of a potentially profitable business opportunity. This could present an opportunity for Support Pty. Ltd. to make an go game to buy OHS Solutions at a good price. On the other hand Support Pty. Ltd. is exposed as a guarantor.Assume she consults you, an accountant, for your preliminary view about the predicament of OHS Solutions and what she should do. Assume also that the first topic that comes to your mind is whether Ying herself may be vulnerable as a director of OHS Solutions for failing to prevent OHS Solutions from trading when it is insolvent.