Briefly explain the concept of corporate governance.
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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- Briefly explain the concept of corporate governance.
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Step 1: Define background related to organizations
Organizations consist of several employees who work together for the fulfillment of organizational goals. It is important to coordinate the efforts of various team members towards common direction. Accountability and responsibility play an integral role in organization. There should be transparency among the members and no important information should be hidden from the integral people of the organization also known as stakeholders. Openness and transparency builds up the reputation of the organization and there is more uniformity and consistency in the practices because of openness.
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