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Corporate Governance

16 Examples of Corporate Governance

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Corporate governance is the framework that provides oversight of the management of a firm. This protects the interests of stakeholders and ensures a firm is managed in an ethical way. Governance is also concerned with strategy and performance where the goal is to sustain the performance of the firm into the future as opposed to sacrificing the future for short term gains. Corporate governance allocates authority, creates accountability and continually monitors a firm. The following are the basics of corporate governance.
Governance Framework
The framework of principles, processes and rules that govern a firm.
Roles & Responsibilities
Governance establishes the roles, responsibilities, authority and accountability of board members and executive management.
Protecting Stakeholder Interests
Corporate governance is accountable for protecting the interests of stakeholders in a firm, particularly owners such as shareholders.
Transparency & Disclosure
Providing timely information to stakeholders.
Governance provides oversight of executive management and can replace them.
Strategic Guidance
Governance boards approve the major strategy of a firm and provide strategic guidance.
Risk Management
Monitoring of risk and oversight of risk management efforts.
Managing Conflicts of Duty
Mechanisms to prevent, identity, disclose and manage conflicts of interest such as self-dealing.
Ethical Conduct
Setting standards and establishing culture for ethical conduct and handling ethical issues promptly and openly.
Executive Compensation
Aligning executive compensation to stakeholder interests. For example, making sure it is not excessive or out-of-line with performance.
Regulatory Compliance
Monitoring compliance and oversight of compliance.
Corporate Social Responsibility
Making sure a firm’s strategy and execution take into account social, environmental and ethical impacts.
Whistleblower Protection
Implementing policies that allow stakeholders such as employees to report concerns without fear of retaliation. The governance board itself should be reachable and open to receiving such concerns.
Resolving Issues and Disputes
Provides the top level structure in an organization for resolving issues, conflicts and disputes within the firm.
Strategic Performance
Ensures accountability for the performance of strategy and execution. For example, calls on executive management to explain strategic failures. This can result in replacement of management and is a consideration in compensation.
The Future
Ensuring that the strategy and execution of a firm are aligned to long term value creation and the future as opposed to things such as short term compensation targets.

Corporate Governance

This is the complete list of articles we have written about corporate governance.
Business As Usual
Business Ethics
Business Principles
Capability Management
Conflict Of Interest
Corporate Identity
Corporate Reputation
External Stakeholders
Fiduciary Duty
Information Security
Risk Management
Insider Trading
Social Obligation
Internal Controls
IT Governance
Tone At The Top
Material Information
Organizational Culture
Power Structures
Precautionary Principle
Regulatory Risk
Reputational Risk
Unknown Risks
More ...
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