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The corporation : a classic failure in the test of "good citizenship" due to its pursuit of financial gain
Pages 6 (1506 words)
Corporate governance encompasses market and regulatory mechanisms as well as the roles and relations between an organization’s management board, its shareholders, the goals that govern the organization, and external stakeholders (Clarke, 2004).
Over the last few years, corporate government has been expansively described as a system encompassing sound approaches and laws through which organizations are controlled and directed focusing on the external and internal structures that constitute the corporation (Thomas & Marie, 2006). This is done with the aim of scrutinizing the actions of company management and directors and hence mitigating agency risks that stem from the devious behaviors inherent in these corporate officers. Within modern business organizations, the primary external stakeholder groups include debt holders, trade creditors, communities and customers impacted by the organization’s activities, shareholders, and suppliers. On the other hand, an organization’s internal stakeholders include its board of directors, employees and executives (Colley, Doyle, Logan, & Stettinius, 2004). This paper will examine the corporation as a symbol of a classic failure in the test of good citizenship because of its pursuit of financial gain. This will be achieved through the examination of Nike Company Inc. A significant portion of contemporary interest in the field of corporate governance concentrates on the mitigation of conflicts of interest between an organization’s external and internal stakeholders. ...
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