Language:
EnglishSubject area: economy and administration
Qualification: MSc
Kind of studies: full-time studies, part-time studies
Corporate Governance
Corporate governance is the mechanisms, processes and relations by which corporations are controlled and directed. Governance structures and principles identify the distribution of rights and responsibilities among different participants in the corporation (such as the board of directors, managers, shareholders, creditors, auditors, regulators, and other stakeholders) and includes the rules and procedures for making decisions in corporate affairs. Corporate governance includes the processes through which corporations' objectives are set and pursued in the context of the social, regulatory and market environment. Governance mechanisms include monitoring the actions, policies, practices, and decisions of corporations, their agents, and affected stakeholders. Corporate governance practices are affected by attempts to align the interests of stakeholders. Interest in the corporate governance practices of modern corporations, particularly in relation to accountability, increased following the high-profile collapses of a number of large corporations during 2001–2002, most of which involved accounting fraud; and then again after the recent financial crisis in 2008.
Governance
Governance is all of the processes of governing, whether undertaken by a government, a market or a network, over a social system (family, tribe, formal or informal organization, a territory or across territories) and whether through the laws, norms, power or language of an organized society. It relates to "the processes of interaction and decision-making among the actors involved in a collective problem that lead to the creation, reinforcement, or reproduction of social norms and institutions." In lay terms, it could be described as the political processes that exist in between formal institutions.
Management
Management (or managing) is the administration of an organization, whether it is a business, a not-for-profit organization, or government body. Management includes the activities of setting the strategy of an organization and coordinating the efforts of its employees (or of volunteers) to accomplish its objectives through the application of available resources, such as financial, natural, technological, and human resources. The term "management" may also refer to those people who manage an organization.
Management
The remarkable thing about management is that a manager can go on for years making mistakes that nobody is aware of, which means that management can be a kind of a con job.
Akio Morita (1987). Made in Japan, p. 154
Management
Understanding the concept of competency is a prerequisite to understanding his integrated model of management.
Richard Boyatzis (1982) Competent Manager: A Model for Effective Performance. p. 10
Management
A company will get nowhere if all of the thinking is left to management.
Akio Morita (1987). Made in Japan, p. 149