Due to a series of blooming economic cycles, followed by the fall of financial markets during 2007 and 2008, and the falls of numerous big corporations related to the misconduct of managers, business managements have become under extensive pressure to consider the effect of their business operation on stakeholders, society, and the community at large. Considering these developments and the complex nature of the business environment, corporate governance has received great attention as being a tool for satisfying managers’ needs in the management process. This process includes making the right decisions to fulfil their responsibilities toward their businesses’ stakeholders, which includes shareholders, consumers, banks, suppliers, local communities, governments, managers, and employees. In a way, corporate social responsibility can be seen as a public relations effort. However, it goes beyond that, as corporate social responsibility can also benefit firms and boost their competitiveness.
Based on the abovementioned facts, you are asked to write an assignment to explore how a good corporate governance could benefit firms and improve their competitiveness. Your assignment should be an article which does not exceed 2500 words, and which is word-processed using MS-Word (preferably).
