Corporate governance is concerned with the ethical principles, values and practices that facilitate holding the balance between economic and social goals and between individual and communal goals. The aim is to align as nearly as possible the interests of individuals, corporations and society within a framework of sound governance and common good.
Key Corporate Governance Objectives
* Provide an enabling environment and effective regulatory framework for economic activities.
* Ensure that corporations act as good corporate citizens with regard to human rights, social responsibility and environmental sustainability.
* Promote the adoption of codes of good business ethics (eg. Cadbury and King Codes) in achieving the objectives of the organization.
* Ensure that corporations treat all their stakeholders (eg. shareholders, employees, communities, suppliers and customers)in a fair and just manner.
* Provide for accountability of corporations and directors.