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Corporate Governance and Corporate Social Responsibility, Reasons for CSR…
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Western countries conceptualize Corporate Governance (CG) and Corporate Social Responsibility (CSR). Corporate Governance and CSR are two interwoven business concepts that are deeply embedded in business practices.
Fused into companies Corporate Governance practices
Focus in ethical business practices
Directly affect an organization's performance
Results in better image of an organization
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Financial statements: The company presents its annual financial statements to its shareholders for
approval
Ratification of the director's actions: The shareholders approve and ratify (or not) the board of directors' decisions over the previous year. This often includes the payment of a dividend
Election of the board of directors: The shareholders elect the board of directors for the upcoming
year.