Corporate Governance Practices - Petro Apple, and Mitsubishi Corporation - Case Study Example

The paper "Corporate Governance Practices - Petro Apple, and Mitsubishi Corporation " is a perfect example of a business case study. Corporate governance refers to the set of guidelines, processes, and practices, which are essential in directing, guiding, and controlling an organisation, business entity, or company. Corporate governance involves the ability and potentiality of an organization to stability the expectations of the numerous investors inclusive of the shareholders, management, suppliers, financiers, customers, governments, and communities in pursuit of competitive advantage. Corporate governance has the potential of offering a substantial framework for attaining the objectives of an organisation. It also encompasses every domain of administration from action plans and interior reins to the evaluation of performance, as well as business confession. Numerous business entities or companies struggle to have quality corporate governance because of the insufficiency of profitability within the market and industry of operation. The organisations need to adopt and implement good corporate governance through ecological consciousness, moral behaviour, and appropriate or ideal corporate governance practices.

These are essential in enhancing the image and reputation of the business entity under the influence of globalisation. In the course of achieving effective and efficient corporate governance practices, business entities or organisations should focus on the attainment of five critical elements. These aspects include alignment of the business goals, integration of strategic management, quality organisation, effective reporting systems, and efficient ethical practices in accordance with the demands and expectations of the business entities, as well as target audiences. In the course of executing this research, the focus will be on comparing and contrasting the corporate governance practices of three firms with reference to Petro (China), Apple (United States), and Mitsubishi Corporation (Japan).