In order to improve your overall business efficiency, decrease your cost, gain access to external capital and improve your firm’s reputation, you need to simply adopt the four basic principles of Corporate Governance which are “responsibility, transparency, accountability, and fairness”. These are viewed by international markets to be the best business practice.
Corporate Governance is the way in which organizations are directed and controlled. Corporate Governance encompasses all the activities associated with exercising power, sharing rights and responsibilities, and organizing the various functions of a company it protects against fraud and abuse with anti-bribery reach. Corporate Governance is a factor in competitiveness that is as important as the quality of a company's human resources, its know-how, and its innovation capacity.
Every organization that comprises more than a few persons needs to have some kind of “Governance” arrangements. As long as the organization is relatively small and unsophisticated, these are usually kept informal and based in interpersonal understandings. People matter more than policies and systems.
As organizations grow in size and complexity, there is more need for formalizing authority, reporting lines and responsibilities. Without them there is an increasing risk of costly misunderstandings, conflict that weakens the company, theft and fraud; or simply a risk that individuals pursue their own and not the organization’s agendas.
If a company wishes to create value, how does it reconcile shareholder power with the responsibilities delegated to directors and managers and with stakeholder rights? Who should this power be exercised by? To what extent should it be constrained by?
We help organizations to develop and improve their effectiveness by focusing on the five key elements of Governance:
Leadership by the board and senior management.
Effective information flows.
Effective control of the business and risk management.
Investor and stakeholder trust.