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  • Corporate Is Adjective Meaning "Of or Relating To A Corporation" Derived From The Noun

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    This document discusses corporate governance. It provides definitions of corporate governance and discusses frameworks of corporate governance such as supervisory boards, audit committees, and disclosure of information. It contrasts corporate governance with corporate management, noting that governance focuses externally on strategy while management focuses internally on tasks. The document emphasizes that corporate governance provides structure for ethical standards and best practices through rules and processes to benefit all stakeholders. It also notes increased attention to corporate governance in recent years due to high-profile scandals.

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    Corporate Governance

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    Corporate Governance

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    This document discusses corporate governance. It provides definitions of corporate governance and discusses frameworks of corporate governance such as supervisory boards, audit committees, and disclosure of information. It contrasts corporate governance with corporate management, noting that governance focuses externally on strategy while management focuses internally on tasks. The document emphasizes that corporate governance provides structure for ethical standards and best practices through rules and processes to benefit all stakeholders. It also notes increased attention to corporate governance in recent years due to high-profile scandals.

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    © All Rights Reserved
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    30 views3 pages

    Corporate Is Adjective Meaning "Of or Relating To A Corporation" Derived From The Noun

    Uploaded by

    Surya
    This document discusses corporate governance. It provides definitions of corporate governance and discusses frameworks of corporate governance such as supervisory boards, audit committees, and disclosure of information. It contrasts corporate governance with corporate management, noting that governance focuses externally on strategy while management focuses internally on tasks. The document emphasizes that corporate governance provides structure for ethical standards and best practices through rules and processes to benefit all stakeholders. It also notes increased attention to corporate governance in recent years due to high-profile scandals.

    Copyright:

    © All Rights Reserved
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    of 3

    Entrepreneurship and Good Governance

    Unit-4

    Corporate Governance

    Prof K.V.S.RAJU

    1. Capitalism @ crossroads

    2. Historical perspective

    3. Issues of CG

    4. Theoretical basis

    5. CG mechanisms

    6. Indian model

    7. 7.Good corporate governance

    8. 8.CG committees

    9. 9.OECD principles

    10. 10.Indian committee and guidelines

    11. 11.CII initiative

    12. 12.CG models

    Corporate is adjective meaning of or relating to a corporation derived from the noun


    corporation.

    A corporation is an organization created (incorporated) by a group of shareholders who


    have ownership of the corporation.

    The elected Board of directors appoint and oversee management of the corporation.

    Oxford English Dictionary defines Governance as the act, manner, fact or function of
    governing, sway, control. The word has Latin origins that suggest the notion of 'steering'. It deals
    with the processes and systems by which an organization or society operates.
    Corporate governance is a broad concept and has been defined and understood differently by
    different groups and at different points of time.

    The Cadbury Committee report defines it as the system by which companies are directed
    and controlled.

    It is generally understood as the framework of rules, relationships, systems and processes within
    and by which authority is exercised and controlled in corporations

    Framework of corporate governance

    1. Supervisory Board/ Committee/ Team

    2. Audit Committee

    3. Internal Audit

    4. Statutory Audit

    5. Disclosure of information

    6. Risk management framework

    7. Internal Control framework

    8. Whistle blower policy

    Corporate governance and management

    CORPORATE GOVERNANCE CORPORATE MANAGEMENT

    External Focus Internal Focus

    Governance assumes an open system Management assumes a closed system

    Strategy- oriented Task-oriented

    Concerned with where the company is going Concerned with getting the company there

    Corporate governance is a term that refers broadly to the rules, processes, or laws by which
    businesses are operated, regulated, and controlled. The term can refer to internal factors defined
    by the officers, stockholders or constitution of a corporation, as well as to external forces such as
    consumer groups, clients, and government regulations.
    A well defined CG provides a structure that, at least in theory, works for the benefit of everyone
    concerned by ensuring that the enterprise adheres to accepted ethical standards and best practices
    as well as to formal laws. To that end, organizations have been formed at the regional, national,
    and global levels.

    Importance in recent years, corporate governance has received increased attention because of
    high-profile scandals involving abuse of corporate power and, in some cases, alleged criminal
    activity by corporate officers. An integral part of an effective corporate governance regime
    includes provisions for civil or criminal prosecution of individuals who conduct unethical or
    illegal acts in the name of the enterprise.

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