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Tuesday, 9 September 2008

The 5 A's of Corporate Governance

A few thoughts developed as i happened to discuss the definition of corporate governance with someone. Thought i should jot it down here for future expansion (it seems i have spawned another thread for myself!:)).

For me, the changing dynamics in the modern, economic world seem to somehow enforce a lot of importance on how corporate governance should be looked at. If stakeholders, business profitability, accountability etc were the factors, i reckon that most of the modern organisations facing the oil crisis, would give two hoots to the above named factors and scoot!

Airline companies, today, are like a herd of wilderbeasts staring at a pride on one side and crocodiles on the other; remind them of these factors and you will most likely face acute amnesia!

For me, as i understand (through analysis in magazines and TV channels only of course) the dramatically changing economics (not economies) in various countries in the modern, post-Iraq war era, it becomes imperative for me to consider Acquisition, Alignment with the dynamics of an economy, Accountability to sound principles of operations, Adherence to Environment Regulations and Adaptability as key areas in modern corporate governance.

Acquisition (to be expanded)

Alignment with the dynamics of an economy (to be expanded)

Accountability to sound principles of operations (to be expanded)

Adherence to Environment Regulations (to be expanded)

Adaptability (to be expanded)