governance

What are the Key Components of Governance?

Key components of governance include:
1. Board of Directors: The board is responsible for establishing policies for corporate management and oversight. It makes decisions on major company issues and plays a critical role in strategic planning.
2. Ethics and Compliance: This includes the adherence to laws, regulations, and company policies. It also involves promoting ethical conduct within the organization.
3. Risk Management: Identifying, assessing, and mitigating risks that could hinder the achievement of the organization’s objectives.
4. Performance Management: Monitoring and evaluating the performance of the company and its employees to ensure that goals are met.
5. Transparency and Accountability: Ensuring that all actions and decisions are transparent and that those responsible are held accountable.

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