Book Title: Strategic Horizons in the Modern Management
Editors: Dr. D. Kinslin, Dr. S. Edmund Christopher, Dr. K. Sankar Ganesh, and Dr. S. Fenin Samuel
ISBN: 978-81-69297-58-5
Chapter: 11
DOI: https://doi.org/10.59646/715/11
Author: Prof. Jenusha Ananthy Y
Abstract
This chapter focuses on the significance of corporate governance and stakeholder management in ensuring organizational accountability and sustainability. It begins by defining corporate governance and its key principles, including transparency, accountability, and ethical conduct. The chapter explores the stakeholder concept, identifying different types of stakeholders, such as shareholders, employees, customers, and communities, and emphasizes the importance of stakeholder engagement in corporate governance. It discusses the relationship between corporate governance and stakeholder management, highlighting the need to balance shareholder interests with broader stakeholder concerns. The chapter examines regulatory frameworks governing corporate governance, such as the Sarbanes-Oxley Act, and best practices for promoting ethical behavior within organizations. Finally, it addresses challenges organizations face in implementing effective governance and stakeholder management strategies, concluding with future trends in corporate governance influenced by emerging issues like sustainability and social responsibility.