Corporate governance refers to the set of rules, regulations and processes by which an organization is operated, regulated and controlled. An organization has the responsibility of meeting the interests of its stakeholders, such as the directors, investors, customers, employees, etc. In order to make sure that the organization does not deviate from its intended path, the corporate governance determines a set of rules and regulation for the firm to follow. Corporate governance can also be referred to as the interaction between various stakeholders, in determining organizational performance and its future goals. In this article we have discussed about what is corporate governance, its implications and its roles behind organizational success. It can help you to have a strong understanding on the basic foundation of corporate governance for your college essay.
Before we dig deeper into the nuances of corporate governance, it should be mentioned that there is no single globally accepted definition that can be followed by every organization. A browse through scholarly articles have revealed that most definitions of corporate governance focuses on accountability, particularly accountability to the shareholders and the ability of the organization to follow its country’s legal system to protect the interest of its stakeholders. Thus, if you are looking for a streamlined definition, it is likely to vary significantly from one country to another. However, we have presented a holistic definition of corporate governance, which encompasses all the common characteristics to present a broad overview.
In a broader perspective, corporate governance is defined as, “the internal and external system of checks and balances, which makes sure that organizations discharge their accountability to all of its stakeholders and to operate in a socially responsible manner in every aspect of its business operations.” In this definition, the term ‘stakeholders’ refers to every entity that is influenced by the business operations of the company. Typically, the board of directors are responsible for the building the framework for the corporate governance which helps in aligning the business activities with the corporate governance objectives.
As mentioned earlier, corporate governance allows a firm to operate in such a way so that it can take care of the interest of its stakeholders and run the business venture in a sustainable and accountable manner. For your assignment help, we have underpinned the key guiding principles of corporate governance.
The core purpose of the building a robust corporate governance is to protect the organization from itself. In other words, the corporate governance regulations and practices enable a firm to take care of the interest of all of its stakeholders, while focusing on sustainable development and value creation. The enforcement of the regulations makes sure that the company does not resort to any unethical or illegal means to run its business which can be quite detrimental for the shareholders in the long run. In this context, we have listed the key advantages of corporate governance to help you with your writing papers in college.
Following a good corporate governance can help a firm achieve long term sustainability and strong competitive advantage. Here are some of the main benefits of corporate governance that you should be aware of:
Before you go and ask someone, write me a paper, let us help you catch up what we have learnt in this article. Corporate governance of an organization is the set of rules and regulation that an organization follows in its business venture to cater to the interests of all of its stakeholders. It compels an organization to act in its best interests, which involves creating long-term sustainable value. Corporate governance makes an organization more accountable for its actions.The corporate governance principles that we have covered in the article can help a firm to operate in the most ethical and sustainable manner, while taking care of the interest of its stakeholders.
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