Identification of Any Issue of Corporate Governance and How it can Assist towards the Mission of Any Organization

Abstract

Corporate governance is the system of rules, practices, and processes by which a company is directed and controlled. Establishing and implementing these practices involves balancing the interests of a company's many stakeholders, which include employees, shareholders, senior management, customers, suppliers, lenders, local, state, and federal governments, community members and groups. Generally, corporate governance encompasses practically every sphere of management, from action plans and internal controls to performance measurement and corporate disclosure. The mission of any organization was encompassed with the performance of corporate governance hence this study identified an issue of corporate governance which showed how it could assist towards the mission of any organization. The methodology included a survey research design with primary data, adopting self-administered interviews with staff of a manufacturing firm. The source of data for this study was primary with five-point Likert-scale. The nature of self-administered interviews was applied and validated by two senior lecturers in the field of corporate governance. The analytical statistical tool used for this study was chi-square. Findings revealed the issue of transparent rules and controls of corporate governance which served as a guide to leadership, aligning the interests of shareholders, directors, management, community members, and employees that could assist the mission of any organization. In conclusion, transparent rules and controls were very significant issue to assisting any organization to achieve her mission. Recommendation were, transparent rules and controls should be implemented across all company levels of management and operations, for good corporate governance could build trust with investors, the community, and public officials, give investors and other stakeholders a clear idea of a company's direction and business integrity, promote long-term financial viability, opportunity, and returns, facilitate the raising of capital, contribute to rising share prices, improve a company's reputation and customer retention, reduce the potential for financial loss, waste, risks, and corruption. Good corporate governance should be part of any company's game plan for resilience and long-term success to assist towards the mission of any organization.