Corporate Governance: Issues and Challenges

The excellence in terms of customer satisfaction in terms of return in terms of product andservice in terms of return to promoters and in terms of social responsibilities towards societyand people cannot be achieved without practicing good corporate governance. In the age ofcompetitive Globalization and dynamic world business enterprises need to focus on innovativepractices which will help in maximizing stake and shareholders wealth. The fundamentalconcern of corporate governance is to ensure that the firm's directors and mangers act ethicallyin the interests of the firm and its shareholders and that the mangers are held accountable tocapital providers for the use of assets. The concept of corporate governance can be taken asa parallel to the quality practices under the ISO standard.