Akshat JainAIR 2 · CSE 2018 · 179 wordsTheir whole copy
Opening · a definition
Corporate governance refers to the fair, ethical and transparent administration of a company, in the best of interests of all stakeholders.
The importance of corporate governance can be seen as follows - Fig - Nucleus of corporate governance
Body · points
Vision and Mission / Transparency Value and openness creation \ for all Accounta- stakeholders bility Fig - Nucleus of corporate governance
For the company itself - Without corporate governance, sustained growth is impossible
For economic development of the nation - Without it, tax frauds, black money and scams inhibit economic growth
For fostering an ethical work culture and spirit of entrepreneurship among youth
for building upon the reputation of the nation as a hub of attracting foreign investment
for protecting the environment and common goods
for preserving dignity and privacy of employees
Today, role of private sector has increased in public service delivery with the arrival of PPP model. Hence corporate governance is more so important
Many government agencies themselves
Close · a quotation
function as corporates, in the form of PSUs and PSBs
Thus corporate governance is essential for the growth of a country. After all, Gandhi ji has said - "Commerce without morality is a sin"