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Corporate Governance framework

The effective implementation of good governance practices would ensure investors confidence in the corporate companies...

Corporate Governance framework

Corporate governance is the system of rules, practices and processes by which a firm is directed and controlled. Corporate governance essentially involves balancing the interests of a company's many stakeholders, such as shareholders, management, customers, suppliers, financiers, government and the community. Since corporate governance also provides the framework for attaining a company's objectives, it encompasses practically every sphere of management, from action plans and internal controls to performance measurement and corporate disclosure.


Principles

Corporate governance is the way a corporation polices itself. In short, it is a method of governing the company like a sovereign state, instating its own customs, policies and laws to its employees from the highest to the lowest levels.

  • Shareholder recognition
  • Stakeholder interests
  • Board responsibilities must be clearly outlined
  • Ethical behavior
  • Business transparency

Importance

  • Investors and shareholders of a corporate company need protection for their investment
  • Important means for paying heed to investors’ grievances.
  • It will enable the corporate firms to (1) attract capital and (2) perform efficiently.
  • Important factor for attracting foreign investment.
  • Indispensable for a vibrant stock market.

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