Good Corporate Goverance



             Governance an economic term, the number of non-specific definitions, as the overlap in many aspects of administrative, economic, social and legal. The World Bank defined governance as the manner in which the exercise of power by the State Department sources, the economic (financial resources) for development.

          The Organization for Economic Cooperation and Development has defined governance as the rules that govern the work of the facilities and management methods, and identifies the distribution of its rights and responsibilities between the various parties, who were the Board of Directors, managers and shareholders.
Good governance is based on several axes, including in the introduction of transparency with regard to the information system and to inform the beneficiaries (shareholders in the companies) on the details of the transactions and methods of decision-making by boards of directors and the reasons for that and the benefit of those decisions and their consequences and the terms of the financial positions for shareholders through the In order to widen the circle of participation, control and support the process of correction of errors, leading to the immunization results in the decisions and steps as well as the future is the fight against corruption, financial and administrative hub in the important and essential corporate governance as a major threat to the development processes and terminology, which must take into account the economic and control and to curb and limit the disadvantages , on the basis of transparency, which is the center of a fundamental pillar for the success of which depends upon the investors and convince them to promote the efficiency and good corporate governance and performance is driven by the conviction that the usefulness of investing more funds to reap the greatest profits, leading to expansion of business profits and therefore the involvement of more employment in the various joints of work leading to the benefit of all parties and the recycling of the wheel of economic activity towards the development, as well as the adoption of international standards in corporate governance as the central goal of good governance is the process of economic reform and the recycling of the economy to achieve proper growth and development, as well as the adoption of management good decisions and the formulation of systems approved the conduct of successful companies and giving support, and evaluate the work of companies with limited efficiency and the development of plans to improve performance, and thus pay for the formulation of good governance in line with the requirements of the laws of the progress of work in companies and establishments in the public and private sectors in order to reach the stage of optimum performance and achieve objectives of the establishment of companies and establishments in the circumstances of the national economy and non-crystallized phase transition lines and the spread of the phenomenon of financial and administrative exploitation of public funds in companies and public sector institutions, there is a need for the role of good governance and the need to transform the theory of circulation in seminars and conferences and the media to an effective tool of economic reform put the national economy on the right track by getting rid of the manifestations of corruption and imbalances that hinder the achievement of the desired goals of a healthy economy, playing an active role in the well-being and prosperity for individuals and society.

 

 

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