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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.
Oversight
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.
Accountability
Business As Usual
Business Ethics
Business Principles
Capability Management
Compliance
Conflict Of Interest
Corporate Identity
Corporate Reputation
External Stakeholders
Fiduciary Duty
Information Security
Risk Management
Insider Trading
Social Obligation
Internal Controls
Sustainability
IT Governance
Tone At The Top
Material Information
Transparency
Mission
Organizational Culture
Power Structures
Precautionary Principle
Privacy
Regulatory Risk
Reputational Risk
Stakeholders
Unknown Risks
More ...
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Corporate Reputation

A list of things that go into a firm's reputation.

Privacy

A comprehensive list of privacy related terms.

Business Risks

A list of common business risks.

Risk Treatment

The five things that can be done about risk.

Risk Mitigation

A list of techniques for reducing risk.

Positive Risk

The potential that you'll achieve too much of a good thing.

Dread Risk

Any risk that people have a strong aversion too.

Risk vs Opportunity

The surprising similarities between risk and opportunity.

Risk Management vs Contingency Planning

The difference between risk management and contingency planning.

Uncertainty

The common types of uncertainty in decision making and strategy.

Inventory Risk

The common types of inventory risk.

Business Risk Management

An overview of common business risk management techniques.

Compliance

A few basic examples of compliance.

Fiduciary Duty

An overview of fiduciary duty.

Conflict Of Interest

A few examples of conflict of interest.

Independent Knowledge

A definition of independent knowledge with an example.

Segregation Of Duties

A definition of segregation of duties with examples.

Internal Controls

A definition of internal controls with examples.

Conformance vs Compliance

The difference between conformance and compliance.

Administrative Burden

A definition of administrative burden with examples.

Fair Competition

The definition of fair competition with examples.

Insider Information

The definition of insider information with examples.
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