Corporate Governance Issues and Challenges
In a business organisation organisational culture is significant in developing a strong cotteries of relationships among members and that protects organisations from self-interest and other selfish activities on the part of individual management employees. When there is strong implementation of corporate governances then there is no scope for corruption such as Enron and other companies.
All of these comes to the point break of how stronger is the implementation of corporate governance within organisational hemisphere. A company is composed of dynamic groups with interests of these individual groups might have been different from one another yet they are connected within organisational levels all of the time.
First the creation of standards of laws that should have been equally implementable for all levels of people that stands within the organisation and they should always place the above organisation self from other. In this situation the company is considered as a living entity and its stakeholders are part of it and there should be a uniform law that should be equal stricter to all stakeholders and equal supportive for all in order to run all the time in the interests of the organization.
It provides and guarantees ample rule for space of belief that every stake holder must consider themselves that in the long run their business will always run with ethics and legal ways and there should be no diversions from all of these at any point of time. In the good times companies should provide ample opportunities for individual executives so that it will make them self sufficient to take the decision and standards of implementation at all levels from the top to button.
In the case of any such violation of standardsofrules and vonduct ofany executives then there is the implementation of code of conduct to make the life stricter and provide sufficient example of this induction to the standards of organisation. All of these examples of code of conduct must ensure that these should be in term of long term development so that stake holdersmust ensure themselves the appropriate stability ad development of management solutions in order to provide stronger face of management ideas that is circulting within organisational standrds.
The las and rules of corporate governance must inculde the state of absolute transparency within organisational levels so that ultimately all of these laws and arbitations should be equally visible and discussed within organisational levels. No corporate governance law is absolute as with due course of tme and with changing and dynamic environment we do find plenty of aditions and substractios to these laws and all o these must come from the perview of discussion from time to time in order to understand the point of impact that is good or bad for organisations.
The higher thestake holder of organisational standards the more the responsibility. As thepower without responsibilityis arbitary and this should not happena t any point oftime and for this we must ensure that those have higher responsibility must enduretheselves toperform or be responsbile for it.
Every performers and workers of organisation must find them recognisable within corporte laws and must endure themselves with it so that ultimatel they do not find any difference among outside and inside within organisational standards. In this way they find the status of corporate citizenship and find that it is their involvment that decide their entire career and even after retirement they find the estwhile corporate lawas which they hve been working for decades still good for them to obey and ind the real definition of life in the times to come.
Every corporate governance must rule by legal standards so that at any time ifthere is serious violation of work and ethics then those stake holders can be booled under law of land and in this way the absolute rule of law is implementable within stake holders within organisational levels.
In large corporate which is like a mini island and there must be law of the land and the corporate governance must be constituted considering each and every aspect of laws of land and maintain and attend the perfection of life, where we do find complete and strategic console to understand that law is the one that is going to unite each and every players of corporate.
Most of multinational companies stays at different states and nations and wherethereis different rules of nation. Most of these corporate governance is constituted considering all of these laws of land where the suit to stay alive and work hard within organisation becomes single most acceptable policy.
While constructing corporate governance we do find and search hard for all of these well-accepted policies and laws and regulations of all of these lands so that there would be an uniform implementation of all of these laws and that should be found to be neutral in the eyes of each and every stake holder of organisation.
Originally published at https://mohanmekap.com on June 30, 2019.