Corporate governance - Essay Example

ehalf of all shareholders of the Company and hence is responsible for every matter related to the firm that is the establishment of the firm itself and then providing every possible help so that it can achieve every business and organizational objectives and that too under continuous guidance with proper review and timely counseling. The set of purposes for which the board has been established are: To approve and monitor various critical business and the corresponding financial strategies of the company thereby assessing every major risks which the Company might face and the ways through which it can be mitigated.

To oversee processes that have been designed to ensure that the Company; its employees etc are very much functioning under the law of the land as well as the applicable laws and regulations and the Companys conduct manual that is applicable equally at all places. The company’s power structure has been clearly defined along with the responsibilities of the head of the company is in between the functioning of the board and the executives withholding the responsibilities of the various businesses, departments and projects of the company.

The decision making is a joint work with none of the individual having superior powers of decision. The appointment of new directors to the board is being done after a formal, rigorous and transparent procedure. The appointment is being achieved while depending on the information that board are being supplied on periodic basis that too in form of skills and qualification which is most suitable as well as appropriate so that the complete board including the new individual will get enabled to form a unit while discharging its duties.

All directors over here receive induction on joining the board and are regularly updated to refresh their skills and knowledge. Corporate governance and the associated system is quite necessary for ensuring better performance of the whole corporate entity so that shareholders interest