* Administration
* Management
* Control
* Regulation
* Leadership
* Ruling
* Direction
* Supervision
Corporate governance refers to the system of rules, practices, and processes by which a company is directed and controlled. It involves balancing the interests of stakeholders, such as shareholders, employees, customers, and the community.
Here's a breakdown of the key elements of corporate governance:
* Board of Directors: The board is responsible for overseeing the company's strategy, performance, and compliance.
* Management: Management is responsible for running the day-to-day operations of the company.
* Shareholders: Shareholders have a vested interest in the company's performance and profitability.
* Employees: Employees are essential to the company's success and should be treated fairly and ethically.
* Customers: Customers are the source of revenue for the company and should be treated with respect.
* Community: The company should be a responsible member of the community and operate ethically and sustainably.
In essence, corporate governance ensures that a company is run in a responsible, ethical, and transparent manner.