Question

How corporate governance has transformed the working of modern business?

Answer 1

The method of corporate governance is adopted to control and direct a company. In any company, it is the senior management, stakeholders or the board of directors who are responsible for setting the objectives and values for their companies. Good governance increases its brand image and is effective in attracting investors to invest in companies.

Explanation:

• The companies that are well-governed do well in the markets and attract customers and investors.  

• Good governance should follow the need of being transparent, efficient, effective, responsive and should be accountable.  

• Effective corporate governance is necessary because of controlling the chances of conflict of interest amongst the senior management or the stakeholders.  

• It helps in defining the responsibilities and identifies the distribution rights among different people in the corporation.

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