Corporate governance is a term associated with the
Board or the top management of an organization.
As they have been mandated to achieve the
objective for which the organization has been
formed, the emphasis is to act on a fully informed
basis for decision making and performance of the
business entity. It lays down clear policies,
procedures, rules, roles and responsibilities with
delegation of authority within which business would
be conducted.
Governance is the art of conceptually identifying
probable causes of failures in the system and
ensuring preventive action to avoid damage. It is
imperative that people and system work in harmony
as they are not exclusive.
However, a person who does not understand the
importance of systems and the overall perspective
of its design can undermine the organizational
effort. Therefore, every individual, not just the
Board of directors, has to work on a fully informed
basis to achieve organizational success.
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Corporate Governance Manual - Generic
Product Code: MC08006
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