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Corporate Governance 184-1847466_transparent-apartment-complex-clipart…

- - - - Market
      - Sustainability
      - Goal
        
        contrast profit maximization
        
        suggest a set of actions beneficial for external stakeholder
        
        based on self-governance (external legal and regulatory mechanisms
      - Ethics
      - Historical Phases
        
        Profit Maximizing Management (the early 1900s)
        
        Trusteeship Management (1800s to early 1900s)
        
        Quality of Life Management (the 1930`s)
      - Four Corporate Social Responsibilities
        
        Economic Responsibility
        
        Legal Responsibility
        
        Ethical Responsibility
        
        Philanthropic Responsibility
      - awareness
      - Community
- - - - Advantages
        
        Clarity
        
        Standardization
        
        Penalties are a deterrent against bad corporate governance
        
        easier compliance with the rules
    - - not suitable for all possible situations
      - can create just a box-ticking approach
      - create an unnecessary administrative burden
  - - - the principle are so broad that they are very little use as a guide
      - not easier compliance as with the rules, as they are ambigous and can`t be evidenced
- - - - Results in better image of an organization
- - - - the broadest control mechanism within which a company