10 Corporate Governance

‘If men were angels, no government would be necessary’

—James Madison

LEARNING OBJECTIVES
  • Understand how checks and balances are embedded in private economic activities
  • Familiarize different categories of stakeholders of a firm and how their interests are integrated
  • Identify the difference between management and governance
  • Know the principles of good governance and issues of corporate governance
  • Understand the functions of corporate boards in strategic management
  • Appreciate the role of corporate governance in guiding strategy and assuring strategy coherence
IDEAS AT WORK 10.1
Strategy Show: Siemens (India)—Transferring Wealth

‘If you can’t get rid of the skeleton in your closest, you’d best teach it to dance’

—George ...

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