i want intext citation as well in the assignment

ASSESSMENT TASK3
Table of Contents
Executive Summary    3
Introduction    4
Main body    4
Background and Ethical question    4
Corporate Governance, CSR, CSV and Corporate Social Performance.    5
Stakeholder Analysis    6
Corporate Governance Discussion based on ASX 2010 Principles and recommendations    7
Ethical analysis    9
Recommendations    10
Conclusion    11
References    12
Executive Summary
Drawing from the social justice and ethical business perspectives, this study aims to provide a systematic understanding of institutional-level corporate governance and its impact on corporate social responsibility (CSR) of the stakeholders. We argue that recognizing differences in Corporate Social Responsibility (CSR) and Creating Shared Value, the stakeholders of the firm must assume their responsibility towards society and consumer welfare. In this study it has been analyzed that there are numerous loopholes in the functionality of financial institutions running in Australia and are taking undue advantage of people’s trust by practicing unethical business tools. Also several recommendations are also being suggested in the later part of the report to deal with such issues and to protect the consumer rights.
Introduction
Ethical deportment of business principles is of prime significance for any entity for its long term success and maintenance of goodwill. However it has been identified that due to growing competition in the market and incremented level of personal desires has led to blind adoption of unethical means in business world (Mason and Simmons, 2014). This report throws light on the major concepts and theories of Corporate Governance, Corporate Social Responsibility (CSR) and/ or Creating Shared Value (CSV) to determine their prominence in sustainable growth of economy as well as well as sustainable societal growth.
The current report focuses its studies on highlighting the misconducts and unethical business practices followed by Australian Mutual Provident Fund (AMP). AMP is the financial services providing company, incorporated in 1849, providing financial advisory services to small and big corporate sector entities, banking as well as mutual fund services such as home loans and saving account etc., together with that providing superannuation and insurance services (Chalmers, 2018).
This study primarily focuses upon analysis of decisions and actions undertaken by the above mentioned firm in light of ethical business practices and economic distribution theories. The report raises an ethical question over the issues so happened in the above mentioned firm and includes discussion and recommendations provided in the later part towards preventing such issues in future.
Main body
Background and Ethical question
From the in depth analysis of information, it has been found that AMP which is an Australian financial services providing body, listed on Australian and New Zealand Stock Exchanges, have been following unethical means and incorporated such immoral practices and being disguising its clients to earn huge sum of money. In April 2018 it has been revealed by banking royal commission of Australia that AMP has been involved in many unscrupulous practices such as charging clients for financial advices which were never provided and deducting premium installments from deceased customers' superannuation fund without informing the policyholder and that too after being notified of the person’s death by their family (abc, 2018). This reveals the immoral practices being followed in banking sector in Australia nowadays due to utter negligence and terrifying illiteracy among people regarding financial matters in Australia. It was only due to hardcore and unprejudiced efforts of the Banking Royal Commission, these kind of issues came into light and awareness of the society.
The major unethical issue observed was that of deducting hard earned income of people in the name of insurance premium even after the death of the member (Chalmers, 2018). It has also been observed that despite complaints been registered since 2016, regarding the said scam the company continued such practices. This investigation also revealed they one of the Commonwealth Bank charged its customer for financial advices offered earlier, even after his death for more than a decade. The ethical question being raised here is “Can this practice of charging and looting of hard earned money of people even after their death is anywhere justifiable?” Is there any reasonable justification available in support of such immorality? Such practices put a big question mark over the trust and reliability of banking institutions. However, the most alarming part of the this issue is, that the concerned managers or the official accepted the fact that they have been charging life insurance premiums to the people who are dead, which shows the utmost cold-hearted attitude of the executives towards their own customers and society as a whole (Chalmers, 2018).
Corporate Governance, CSR, CSV and Corporate Social Performance.
Corporate Governance is the, the framing of rules, regulations, laws and principles with the help of which any corporate body can be controlled and monitored (Crane and Matten, 2016). It helps in practicing close scrutiny of the objectives and the means of attainment of goals adopted by various firms in the industry. It is the fundamental duty of the corporate governance to lay down principles and define roles for the board and executives of the company for smooth functioning of the corporate sector as well as for protection of rights of stakeholders (Trevino and Nelson, 2016). In case of Australian Mutual Provident Fund (AMP) it has been observed that there was no corporate governance in the said firm which led to following of unethical measures to earn money (abc, 2018). This non-compliance of any rules and regulations affected the stakeholders and their interests hugely.
As per the view of Weiss, (2014) CSR refers to Corporate Social Responsibility which encompasses all those social activities and initiatives undertaken by senior members of the company in view if supporting social growth as well as sustainable economic development. However, Goodpaster, (2015) has argued that CSR activities are not carried out willingly the higher authorities but are mainly due to external pressure created by government and other regulating authorities. In case of Australian Mutual Provident fund (AMP) is can easily be observed that no such concept was being followed by the higher controlling authorities in the interest of the people. Instead they showed negligible interest in the social growth and rather cheated the innocent people there.
However, creating shared value (CSV) emphasizes on equivalent economic benefit to the companies engaged in CSR activities (DesJardins, 2014). It is widely known for creation of value to the firm in the form of enhanced business opportunities, competitive advantages, arousal of new markets and strengthening of shareholder’s value by improved profitability. According to (), CSV must go hand in hand with CSR activities (Filatotchev and Stahl,...