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CORPORATE GOVERNANCE AND CORPORATE SOCIAL RESPONSIBILITY - Coggle Diagram
CORPORATE GOVERNANCE AND CORPORATE SOCIAL RESPONSIBILITY
Relationship between Corporate Governance and CSR
Corporate and CSR results into better image of an organization and directly affects the performance of an organization.
CSR is gradually getting focused into companies corporate governance practices.
Focused into companies Corporate Governance practices
Focus in ethical business practices
Directly affect an organization's performance
Results in better image of an organization
Corporate Governance
Values and Ethics
Policies & Regulatory Framework
Management board, supervisory board & committees
Risk & performance management
Monitoring & Internal control
Transparency & Accountability
Corporate Social Responsibility
Long Term
Ethics
Sustainability
Sincerity
Market
Responsibility
Resources
Goal
Differences between CG and CSR
CSR is based on the concept of self governance which is related to external legal and regulatory mechanism
Contrast profit maximization
Suggest a set of actions beneficial for external stakeholder
Based on self-governance (external legal and regulatory mechanisms)
Whereas CG is widest control mechanism within which a company takes a manager decision.
Related to profit maximization
Protection for the provided capital to the firm
The broadest control mechanism within which a company