You Have Been Appointed As A Non Executive Director Of A Medium Sized Listed Bio Tec 2835386

You have been appointed as a non-executive director of a medium-sized listed bio-tech company which invests in a range of cutting edge research programs. You have just had meeting with the chairperson and she has raised some serious issues about how the board of directors is making decisions. She believes that the directors are acting without sufficient information and have not assessed the financial risk involved by investing in some of these programs. Document Preview:

Question You have been appointed as a non-executive director of a medium-sized listed bio-tech company which invests in a range of cutting edge research programs. You have just had meeting with the chairperson and she has raised some serious issues about how the board of directors is making decisions. She believes that the directors are acting without sufficient information and have not assessed the financial risk involved by investing in some of these programs. The chairperson raised one particular issue about the board making a decision to invest in a bio-tech research project which would be have very little benefit for human helath or the environment. There was much conflict and disagreement between the directors about research ethics concerned with clinical trials on animals which resulted in the cancellation of the project and consequently there was a write-off of nearly $2 million. Your task: Write a short report to the chairperson outlining the steps to be taken to improve the quality of decision-making by the board of directors. In your answer outline how organizational policies and procedures may be enhanced to support decision making by the board. In your report make reference to the ASX CGC guidelines. Word limit 250-300

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