Corporate governance is a management method that ensures the determination of strategic tasks and goals of an enterprise (LLC, OJSC, CJSC, etc.) and holdings based on its strategic vision, the availability of tools and processes to achieve them, a clear division of authority at all management levels, as well as the implementation of an effective internal control system in order to achieve effective risk management and transparency of its activities.
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Corporate Governance
Corporate governance is the system of rules, practices, and processes by which a company is directed and controlled. Establishing and implementing these practices involves balancing the interests of a company’s many stakeholders, including:
- Employees
- Shareholders
- Senior management
- Customers
- Suppliers
- Lenders
- Local, state, and federal governments
- Community members and groups
Corporate governance is the structure of rules, practices, and processes used to direct and manage a company.
A company’s board of directors is the primary force influencing corporate governance.
Good corporate governance can benefit employees, shareholders, community members, and more, as well as the operations and reputation of a company.
Bad corporate governance can destroy a company’s operations and ultimate profitability.
The basic principles of corporate governance are accountability, transparency, fairness, responsibility, and risk management.
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