Corporate Governance (CG)

Meaning:
Corporate Governance, simply stated is therefore, a system by
which corporate entities are directed and controlled.
Meaning OF CG (cont.)
“Is a system of structuring operating and controlling a company
with a view to achieve long term strategic goals to satisfy
shareholders, employees,customers and suppliers with the legal
and regulatory requirements,apart from meeting environmental
and local community needs.It leads to the building of a legal,
commercial and institutional framework. It also demarcates the
boundaries within which these functions are performed.”
“Corporate Governance ensures that long-term strategic
objectives and plans are established and that the proper
management structure (Organisation, systems and people) is in
place to achieve those objectives, while at the same time
making sure that the structure functions to maintain the
corporation’s integrity, reputation and responsibility to its
various constituencies”.

Advisory Board of the National Association of Corporate

Directors (NACD)
“Corporate Governance is the expression which is not capable
of being precisely defined. However, broadly speaking,
corporate governance denotes direction and control of the
affairs of the company. The role of corporate governance is to
ensure that the directors of a company are subject to their duties,
obligations and responsibilities to act in the best interest of their
company, to give direction and to remain accountable to their
shareholders and other beneficiaries for their actions”.

-Dr. K R Chandratre
In “Role of Board of Directors in Emerging Dimensions”
“Corporate Governance is also concerned with the ethics,
values and morals of a company and its directors”.

Salim Sheikh and William Ress

in “Corporate Governance and Corporate Control”