Corporate Governance
Corporate governance represents the backbone of an organization.
It defines the structure, accountability, and roadmap by which a company is directed and controlled.
It identifies who has power and accountability, and who is in charge of ethical decision-making.
The 4 Pillars of Corporate Governance
Corporate governance creates an organization’s culture and its values, integrity, accountability, and long-term success.
Corporate governance is known for its “4 Ps” meaning its four pillars:
- People: Effective corporate governance starts with the right people in leadership roles. Leaders are selected for their ethics, knowledge, and commitment to the organization's success. In this manner, the tone is set for a healthy governance framework.
- Processes: The building blocks that hold everything together. They encompass policies, procedures, and guidelines that ensure transparency, fairness, and compliance.
- Performance: By measuring what matters, clear goals are set, and progress is monitored. Leaders are held accountable for their decisions. Transparent performance metrics not only drive accountability but also allow for course correction when needed.
- Purpose: Aligning the organization's mission, values, and goals with its actions which also helps to guide decision-making and helps to make a positive impact on stakeholders, employees, and customers.
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Corporate governance represents the backbone of an organization.
It defines the structure, accountability, and roadmap by which a company is directed and controlled.
It identifies who has power and accountability, and who is in charge of ethical decision-making.
Corporate Governance Holds Your Business Accountable
Governance at a high business level incorporates how a company’s objectives are determined and pursued in the context of the social, regulatory, and sales environments.
Corporate governance is concerned with practices and procedures that ensure that a company is managed in such a manner that it achieves its objectives and confirms that stakeholders are confident that their trust in that company is well founded.