Dense Corporation and Supply Relation
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Corporate governance assumes critical importance in times like those we are experiencing today in the form of global economic deceleration leading to overall slowdown in all spheres of economics like banking; capital market and business. These are such market conditions which provide ample temptation to dilute effective corporate governance norms and systems in quest for maintaining growth momentum. In contrast when things are brighter, performance is better and economics are bold, corporate governance norms reach centre stage of corporate philosophy and culture. Undeterred by cyclic movement of corporate governance, good corporate governance should remain the focal point for stake-holders value enhancement in good times as well as the hard times.
Issue of governance, accountability and the voice of shareholder activism have never been as loud as it is today. The respond of the government and regulations has been shift to the challenges of corporate delinquency. Corporations today are responsible for generating the majority of world economic activity. They are the prominent players in all markets ranging from goods and services to capital and resources. So, the corporation and corporate governance, which have remained the matters of domestic policy interest for many decades, have moved to forefront of international thinking with the gradual integration of the global economies. There is a growing interaction of stakeholders about corporate governance and the ways to cope up with increasingly dynamic business paradigm. It has become more critical as companies operate in an increasingly complex environment.
In view of emerging trends corporate governance aims at providing framework of best practices, processes and system to foster a culture of compliances thereby promoting good governance.