Relations Between Ethics, Corporate Governance And Corporate Strategy

In the current essay, we will look at the contrasts and relationships between Ethics, law, corporate governance and corporate strategy.

On one hand, corporate governance has brought about many challenges to companies.

It has led to a structural shift within governance and not only forced companies and regulators to rethink policies and innovate to adapt to an ever-evolving corporate landscape but it has also led to the emergence of its own new set of challenges.

Corporate governance refers to the mechanisms, processes and relations in which corporations are 'directed and controlled'.

Such dichotomy highlights the adversarial nature of relationships between actors (managers, stakeholders, investors etc.) within a company and this is exactly

Corporate governance as it stands appears to be fundamental to all entities across the board whether they are commercial entities or not for profit organisations as they are all affected by the principles of corporate governance.

The purpose of corporate governance is not just to monitor, it is also to provide guidance to those in charge of running companies, board members, managers, shareholders etc.

The American scholar, Kenneth R Andrews described Corporate strategy as follows: "By the fashionable phrase, 'Corporate strategy' ( ) I mean the pattern of company, purposes and goals and the major policies for achieving these goals that defines the business or businesses the company is to be involved with and the kind of company is it to be." Discussion: The Impact and Implication of Ethics and the Law upon Corporate governance and Corporate

Conclusion: Beyond Corporate governance, Shaping Data governance We're heading towards a future where solely establishing Corporate governance is no longer a viable strategy for companies.

There's a real necessity to bring Data governance to the fore in a more inclusive way since it has been neglected for years, dismissed as pertaining to the realm of IT governance or even conceived as a separate entity from corporate governance.

Currently barriers to data governance adoption still exist, these are essentially due to the lack of awareness with regards to data quality issues and a lax approach to data management.

The Importance of Data governance has been consolidated with the GDPR (the EU's General Data Protection Regulation body) Compliance White paper highlighting directives that will be enforced in May 25th, 2018, for all overseas and domestic companies collecting, processing or holding EU citizen's