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Corporate Governance between Corporate Social Responsibility, Components…
Corporate Governance between
Corporate Social Responsibility
Corporate Governance
A term that refers to the rules, practices and processes that govern corporations. Board directors and managers are the major players in corporate governance, but employees, vendors and other stakeholders also have a take in corporate governance.
Bad corporate governance can cast doubt on a company's reliability, integrity and transperency, which cam impact its financial health.
Shareholder rights and takeover provisions
Auditor independence and transparency
A focuson diversity
Director independence and performance
Corporate Social Governance
Self-regulating business model that helps a company be socially accountable to itself, its stakeholders and the public.
Important to both consumers and companies.
Are a great way to raise morale in the workplace.
Ethical Action
Philanthropic Responsibilities
Economic Interest
Corporate Governance was related to profit maximization and providedprotection to shareholders who have provided capital to firm.
Corporate Social Responsibility (CSR) apparently was against profit maximization because it suggested a set of action beneficial for external stakeholders that may not be good for a shareholder.
Their relationship can be interpreted by abandoning the standard view of the firm as a shareholder value maximizer.
Both Corporate Governance and CSR focus on ethical practices in business and the responsiveness of an organization to itsstakeholders and the environment in which it operates.
Components of Governance
Components of Corporate Social Responsibility