Essay about Case Analysis : Mugg And Bean

715 Words Mar 3rd, 2015 3 Pages
MUGG AND BEAN IS A FULL SERVICE RESTAURANT WHICH IS BASED ON A COFFEE-CAFÉ THEME.

IT IS A FRANCHISE FALLING UNDER FAMOUS BRANDS.

IT WAS FOUNDED IN 1996 AND PURCHASED IN JULY 2009 TRANSACTION WAS IN EFFECT SEPTEMBER OF THE SAME YEAR.

THE FIRST WAS OPENED IN THE V&A WATERFRONT, Cape Town.

MUGG&BEAN HAS RECEIVED MAJOR SUCCESS IN SOUTH AFRICA – THEY NOW HAVE FRANCHISES IN: NAMIBIA AND BOTSWANA. SAUDI ARABIA AND THE UNITED ARAB EMIRATES ALSO HOLD THIS FRANCHISE
FAMOUS BRANDS AS A WHOLE WORKS IN THE LINE OF THE KING III REPORT.
THE KING CODE III ALSO ASSISTS COMPANIES WITH COMPREHENSIVE SETS OF PRINCIPLES OF CORPORATE GOVERNANCE BUT
There is more emphasis on sustainability, Risk management,
Information technology,
Internal auditing,
Remuneration,
Alternate dispute resolution,
Business rescue as well as fundamental and affected transactions.
The principle of “comply or explain” means that companies are responsible for shareholders that can exercise sanctions.

Famous brands does not comply with this approach.

But even though they do not comply, the directors at famous brands apply their minds independently as well as meeting the legal requirements of the Companies Act, 2008 which gives statutory power to the audit committee.
Famous brands states that it incorporates the characteristics of
Business integrity,
Fairness,
Transparency and
Accountability in all of its activities.
Famous brands claim to be transparent which means that they allow those involved and affected…

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