Corporate Governance
The main bedrock of any successful economic unit( individual, firm ) be it private or public is to have an effective and efficient corporate governance system in place. There should be proper separation of power between the chairman, the managing director, the board of directors etc. Corporate governance can be defined as the process by which business organizations are managed and controlled. It can also be described as the process by which the management team of a business act independently i.e. there is clear separation of power without conflict of interest.
Most questions people often ask is that are companies applying the principles of corporate governance in running the affairs of the business?, are private organizations adhering strictly to the ethics of governance?. Corporate governance in Nigeria has been a major subject of discussion if not concern both …show more content…
Whereas, the business is doing badly in terms of profitability. Again, while measuring performance through appraisal, most private organizations tend to be bias in rating and grading the performance of the work force. Some of the organizations only give good grade and high scores to staffs who are very/so close to the top management, either the Managing Director, the chairman, or an influential member of the board of director only get promoted. This violates the principle of
The main bedrock of any successful economic unit( individual, firm ) be it private or public is to have an effective and efficient corporate governance system in place. There should be proper separation of power between the chairman, the managing director, the board of directors etc. Corporate governance can be defined as the process by which business organizations are managed and controlled. It can also be described as the process by which the management team of a business act independently i.e. there is clear separation of power without conflict of interest.
Most questions people often ask is that are companies applying the principles of corporate governance in running the affairs of the business?, are private organizations adhering strictly to the ethics of governance?. Corporate governance in Nigeria has been a major subject of discussion if not concern both …show more content…
Whereas, the business is doing badly in terms of profitability. Again, while measuring performance through appraisal, most private organizations tend to be bias in rating and grading the performance of the work force. Some of the organizations only give good grade and high scores to staffs who are very/so close to the top management, either the Managing Director, the chairman, or an influential member of the board of director only get promoted. This violates the principle of