The Role of Corporate Governance in Enhancing Organizational Performance: A Mixed-Methods Study

Description

The Role of Corporate Governance in Enhancing Organizational Performance: A Mixed-Methods Study

Abstract

The role of Corporate Governance is significant in improving the performance of the organization. All the members will be involved, and they will follow governance practices to establish results of the company. Generally, the company will involve high level of management, such as board members, directors, and executives.  For example, it involves all the suppliers, shareholders, and customers in the corporation for transparent admiration. Enterprises follow policies that control their actions. Therefore, many businesses can benefit from the procedures and avoid conflicts created due to misinterpretations.

It benefits financial activities and boosts the revenues of business, where it grants contracts. For instance, HR team could set the rules for following practices, and enterprises can follow activities. There is a great need for corporate governance for widespread shareholders towards acquiring corporate affairs and conducting the implementation of practices. Moreover, it certainly modifies the ownership structure in large industries and orthodox management can handle it. There are several such expectations in the field of the corporate sector with better utilization of resources. Whereas it involves meeting the social needs and expectations through the company and following the social terms.

There are several benefits to conducting successful growth in the economic and financial sectors. In reality, it can enhance objectives with better management and brand formation. There will be a review of the practices in due time by management. Hence, it focuses on appointing new individuals and making the organizations feel safe and secure by following practices. Although added benefits are identified, some challenges exist such as inadequate diversity of the board and a weak risk management system. There will be conflict of interest and regulatory and compliance issues. Therefore, by establishing new practices and clear policies it can enhance the business by mitigating the risk and by creating value to the organization.

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