The reporter underlines that the role of good governance is widely considered as a crucial factor contributing towards eradicating poverty and promoting human development, not only in less developed countries but also in developed nations…
Extract of sample Politics, the Role of Good Governance
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The discussion focuses on the role of democracy in influencing the overall development of low-income countries. It also precisely outlines the performance of these countries after their independence and acceptance of a democratic system.
There are various forms of governance system such as monarchy, dictatorship and democratic practiced by different nations around the world. However, since last few decades’, democratic form of governance systems has gained tremendous popularity and is widely favored by both people and experts, especially in low-income or developing countries. Most of the nations around the world have either already transformed their governance system into a democracy, or they are observed as endeavoring to transfer their governance system into a democratic structure. One of the best definitions for the term was given by U.S. President Mr. Abraham Lincoln, which states democracy as “government of the people, by the people and for the people”. It should be noted in this regard that the word ‘democracy’ primarily focuses on the people and not on the government2.
The world is now more democratic than it was ever before. After the independence of many Asian and African nations, countries have adopted a democratic system of government in the face of intense poverty and relentless social as well as economic apprehensions. Nonetheless, democratization in low-income countries has resulted in positive outcomes in several fronts, especially in achieving universal primary education and eliminating gender disparities in access of basic education. The democratization in low-income countries has indeed helped them to reduce child mortality rate and a poverty rate that was likely being faced by many developing countries before democratization. The spread of democratization along with the integration of world economy through globalization process and the dramatic technology revolution have accumulatively contributed in an increased potential of the low-income countries for improving the lifestyle of the citizens ensuring greater human freedom and well-being.
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This therefore relatively gives non-executive directors (NED) independence to view and develop a different insight about the affairs of the firm. The presence of a NED provides board a balance in terms of voicing the concerns of all stakeholders while at the same time maintain independence of the board as a whole.
Each democratic institution has to balance the concerns of voters against the logistical problems of large populations and the protection of minorities and resources from the opinions of the majority. There is no extant form of a perfect democracy on a national level, by analyzing the aim and character of democracy, it is possible to observe how close a government comes to upholding the ideals upon which democracy is built, or to measure how far away it is.
Free Elections – Open, fair, monitored, & validated election processes open to all 2. Freedom of Expression – Citizens enjoy the rights of Free Speech, Press, Assembly, etc. 3. Equal Participation – All individuals can engage in the political process free from repression While there are other characteristics that are reflective of democracy and liberalism, these three can be used as a starting point to evaluate the political process in countries of the world from a common basis.
From the past few decades, business firms have started to engage in activities that have since long been regarded as responsibilities of the government bodies. The business firms, especially the multinational businesses have started adopting a new role as political actors along with their role of active economic actors.
rules are followed in the conduct of transactions-in particular financial transactions.A dispassionately conducted internal audit directly contributes to meeting the objectives of corporate governance as well as the tranasparency attained is as well the transparency conveyed.The Enron and WorldCom scandals have illustrated on the one hand the wide extent to which audit functions had been extended to misrepresent facts and figures and on the other the inadequacies of the extant compulsions normally imposed by a robust corporate governance regime.UK Corporate governance prescriptions have evolved substantially in recent years.They have imposed additional responsibilities on the audit function,
It would almost appear that the single most important duty of the government of any developing country is the formulation of an optimal foreign exchange rate policy. Even the position of the World Bank and International Monetary Fund in favor of a particular exchange rate regime for every developing country (Calvo and Mishkin, 2003) seem to give this position supremacy over every other position.
The author states that good governance became an important concept in the late 80s when it became tied to foreign aid programs, in addition to playing a crucial role in analyzing a country’s competitiveness for foreign investment. While in the era of the Cold War the flow of aid was strongly influenced by strategic foreign policy interests.
Corporate governance performances and the relation of social, environmental, and economic performance should be the subject of further research. In this regard, corporate governance can make a contribution to long-term strategy. A perfect example here is Ford. The company recognized that it is vital to establish some sustainability-specific structures and processes.
It is well known that localization of the industrial enterprises depends on a number of factors such as power supplies, availability of resources and raw materials, proximity to the market and others. However, the industry was initially located in New England with machinery imported from Europe and the first cotton mill founded in 1790.
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