The system
of rules, practices and processes by which a company is directed and
controlled. Corporate governance essentially involves balancing the interests
of the many stakeholders in a company - these include its shareholders,
management, customers, suppliers, financiers, government and the community.
Since corporate governance also provides the framework for attaining a
company's objectives, it encompasses practically every sphere of management,
from action plans and internal controls to performance measurement and
corporate disclosure.
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