Topic : corporate governance.
6. Explain the concept of corporate governance, discuss why it is important. (250 words)
Reference: Ethics, Integrity and Aptitude by Lexicon publications
Why the question:
The question is premised on the theme of Corporate Governance.
Key Demand of the question:
The question is straightforward and aims to address the concept of corporate governance and its significance in general.
Directive:
Explain – Clarify the topic by giving a detailed account as to how and why it occurred, or what is the particular context. You must be defining key terms where ever appropriate, and substantiate with relevant associated facts.
Structure of the answer:
Introduction:
Corporate governance is the structures and processes for the direction and control of companies. To avoid mismanagement, good corporate governance is necessary to enable companies operate more efficiently, to improve access to capital, mitigate risk and safeguard stakeholders.
Body:
Explain that corporate governance is about enabling organisations to achieve their goals, control risks and assuring compliance. Good corporate governance incorporates a set of rules that define the relationship between stakeholders, management and the board of directors of a company and influence how the company is operating.
Then discuss in detail role of corporate governance in business.
Conclusion:
One can conclude with its importance and relevance even to administrative services apart from the corporate companies.
