A Corporate Governance Model : Building Responsible Boards and Sustainable Businesses

The foundation of good corporate governance is the intellectual honesty of directors and senior management. This intellectual honesty is expressed by acting in the best interests of the incapacitated company. The company, on formation, is a person,...

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Main Author:	World Bank
Format:	Brief
Language:	English
Published:	Washington, DC 2012
Subjects:	ACCOUNTABILITY AUTHORITY BEHAVIORS BEST PRACTICES BOARD MEMBER BOARD MEMBERS BUSINESS STRATEGY CEO CITIZENSHIP COLLECTIVE COMMUNICATION STRUCTURE COMPANY COMPETENCIES COMPETITIVE ENVIRONMENT COMPETITIVE INFORMATION CONSENSUS CONTINUOUS IMPROVEMENT CONTINUOUS LEARNING CORPORATE CITIZENSHIP CORPORATE CULTURE CORPORATE FAILURES CORPORATE GOVERNANCE CORPORATE GOVERNANCE PRINCIPLES CORPORATE SOCIAL RESPONSIBILITY CORPORATE STRUCTURES CORPORATIONS CREDIT RATING DECISION MAKERS DECISION MAKING DECISION MAKING AUTHORITY DECISION MAKING PROCESSES DECISION QUALITY DECISION-MAKING DECISION-MAKING PROCESS DISCLOSURE DISCUSSION ECONOMIC DEVELOPMENT ECONOMIC REFORM EXECUTION FINANCE CORPORATION FINANCIAL CRISES FINANCIAL INFORMATION FINANCIAL MARKETS FINANCIAL RESOURCES FRAUD GLOBAL COMPACT GLOBAL CORPORATE GOVERNANCE GLOBAL FINANCIAL MARKETS GLOBAL LEADER GOOD CORPORATE GOVERNANCE GOOD GOVERNANCE GOVERNANCE MECHANISMS GOVERNANCE PRINCIPLES GOVERNANCE REGULATIONS HUMAN CAPITAL INCOME INDEPENDENT AUDIT INDIVIDUAL COMPANY INDIVIDUALS INFORMATION FLOW INFORMATION FLOWS INTANGIBLES INTELLECTUAL ASSETS INTERNAL CONTROL INTERNATIONAL FINANCE LEADING LEARNING LIMITED LOGIC LOW-INCOME COUNTRIES MANAGEMENT OVERSIGHT MANAGEMENT ROLES MANAGERS MARKET SHARE ORGANIZATIONAL STRUCTURE OUTPUT OUTPUTS PARLIAMENT PERSONAL KNOWLEDGE POOR GOVERNANCE QUALITY OF INFORMATION REFORM PROGRAMS REPUTATION RISK MANAGEMENT SHAREHOLDERS SPONSORS STAKEHOLDERS SUBSIDIARY SUSTAINABILITY MANAGEMENT SUSTAINABLE DEVELOPMENT TEAM WORK TECHNICAL ASSISTANCE THINKING TRAITS TRANSITION ECONOMIES TRANSPARENCY TURNOVER VALUE CREATION VISION
Online Access:	http://documents.worldbank.org/curated/en/2010/01/12064382/corporate-governance-model-building-responsible-boards-sustainable-businesses http://hdl.handle.net/10986/11098

id	okr-10986-11098
recordtype	oai_dc
spelling	okr-10986-110982021-04-23T14:02:54Z A Corporate Governance Model : Building Responsible Boards and Sustainable Businesses World Bank ACCOUNTABILITY AUTHORITY BEHAVIORS BEST PRACTICES BOARD MEMBER BOARD MEMBERS BUSINESS STRATEGY CEO CITIZENSHIP COLLECTIVE COMMUNICATION STRUCTURE COMPANY COMPETENCIES COMPETITIVE ENVIRONMENT COMPETITIVE INFORMATION CONSENSUS CONTINUOUS IMPROVEMENT CONTINUOUS LEARNING CORPORATE CITIZENSHIP CORPORATE CULTURE CORPORATE FAILURES CORPORATE GOVERNANCE CORPORATE GOVERNANCE PRINCIPLES CORPORATE SOCIAL RESPONSIBILITY CORPORATE STRUCTURES CORPORATIONS CREDIT RATING DECISION MAKERS DECISION MAKING DECISION MAKING AUTHORITY DECISION MAKING PROCESSES DECISION QUALITY DECISION-MAKING DECISION-MAKING PROCESS DISCLOSURE DISCUSSION ECONOMIC DEVELOPMENT ECONOMIC REFORM EXECUTION FINANCE CORPORATION FINANCIAL CRISES FINANCIAL INFORMATION FINANCIAL MARKETS FINANCIAL RESOURCES FRAUD GLOBAL COMPACT GLOBAL CORPORATE GOVERNANCE GLOBAL FINANCIAL MARKETS GLOBAL LEADER GOOD CORPORATE GOVERNANCE GOOD GOVERNANCE GOVERNANCE MECHANISMS GOVERNANCE PRINCIPLES GOVERNANCE REGULATIONS HUMAN CAPITAL INCOME INDEPENDENT AUDIT INDIVIDUAL COMPANY INDIVIDUALS INFORMATION FLOW INFORMATION FLOWS INTANGIBLES INTELLECTUAL ASSETS INTERNAL CONTROL INTERNATIONAL FINANCE LEADING LEARNING LIMITED LOGIC LOW-INCOME COUNTRIES MANAGEMENT OVERSIGHT MANAGEMENT ROLES MANAGERS MARKET SHARE ORGANIZATIONAL STRUCTURE OUTPUT OUTPUTS PARLIAMENT PERSONAL KNOWLEDGE POOR GOVERNANCE QUALITY OF INFORMATION REFORM PROGRAMS REPUTATION RISK MANAGEMENT SHAREHOLDERS SPONSORS STAKEHOLDERS SUBSIDIARY SUSTAINABILITY MANAGEMENT SUSTAINABLE DEVELOPMENT TEAM WORK TECHNICAL ASSISTANCE THINKING TRAITS TRANSITION ECONOMIES TRANSPARENCY TURNOVER VALUE CREATION VISION The foundation of good corporate governance is the intellectual honesty of directors and senior management. This intellectual honesty is expressed by acting in the best interests of the incapacitated company. The company, on formation, is a person, but it is absolutely incapacitated until its directors are appointed and the board in turn delegates to management the implementation of its collective decisions. It is the quality of governance that is important and not the quantity. Mindless compliance with a set of rules is not good governance. Good governance connotes acting with responsibility, accountability, fairness and transparency. Transparency has a withering effect on misconduct and is absolutely critical in communicating to stakeholders any decisions of the board. In this context, transparency demands that the communications consist of substance over form and contain positive and negative aspects, if any. The board of directors is the most important element in corporate structures. Issues such as the composition of the board of directors, the issues that the board focuses on, processes they follow for decision making and how they learn to continuously improve the governance of the corporation critically influence the quality of decisions and the management quality. The main responsibilities of the board are to provide an effective oversight for the management and guidance to the corporation with value creating strategies. The quality of their decisions is critically dependent on the quality of the information they have. Establishing a culture that sets the right tone at the top is critical for establishing the 'trust' for the corporation. 2012-08-13T14:08:13Z 2012-08-13T14:08:13Z 2010-01 http://documents.worldbank.org/curated/en/2010/01/12064382/corporate-governance-model-building-responsible-boards-sustainable-businesses http://hdl.handle.net/10986/11098 English Private Sector Opinion; No. 17 CC BY-NC-ND 3.0 IGO http://creativecommons.org/licenses/by-nc-nd/3.0/igo/ World Bank Washington, DC Publications & Research :: Brief Publications & Research
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	ACCOUNTABILITY AUTHORITY BEHAVIORS BEST PRACTICES BOARD MEMBER BOARD MEMBERS BUSINESS STRATEGY CEO CITIZENSHIP COLLECTIVE COMMUNICATION STRUCTURE COMPANY COMPETENCIES COMPETITIVE ENVIRONMENT COMPETITIVE INFORMATION CONSENSUS CONTINUOUS IMPROVEMENT CONTINUOUS LEARNING CORPORATE CITIZENSHIP CORPORATE CULTURE CORPORATE FAILURES CORPORATE GOVERNANCE CORPORATE GOVERNANCE PRINCIPLES CORPORATE SOCIAL RESPONSIBILITY CORPORATE STRUCTURES CORPORATIONS CREDIT RATING DECISION MAKERS DECISION MAKING DECISION MAKING AUTHORITY DECISION MAKING PROCESSES DECISION QUALITY DECISION-MAKING DECISION-MAKING PROCESS DISCLOSURE DISCUSSION ECONOMIC DEVELOPMENT ECONOMIC REFORM EXECUTION FINANCE CORPORATION FINANCIAL CRISES FINANCIAL INFORMATION FINANCIAL MARKETS FINANCIAL RESOURCES FRAUD GLOBAL COMPACT GLOBAL CORPORATE GOVERNANCE GLOBAL FINANCIAL MARKETS GLOBAL LEADER GOOD CORPORATE GOVERNANCE GOOD GOVERNANCE GOVERNANCE MECHANISMS GOVERNANCE PRINCIPLES GOVERNANCE REGULATIONS HUMAN CAPITAL INCOME INDEPENDENT AUDIT INDIVIDUAL COMPANY INDIVIDUALS INFORMATION FLOW INFORMATION FLOWS INTANGIBLES INTELLECTUAL ASSETS INTERNAL CONTROL INTERNATIONAL FINANCE LEADING LEARNING LIMITED LOGIC LOW-INCOME COUNTRIES MANAGEMENT OVERSIGHT MANAGEMENT ROLES MANAGERS MARKET SHARE ORGANIZATIONAL STRUCTURE OUTPUT OUTPUTS PARLIAMENT PERSONAL KNOWLEDGE POOR GOVERNANCE QUALITY OF INFORMATION REFORM PROGRAMS REPUTATION RISK MANAGEMENT SHAREHOLDERS SPONSORS STAKEHOLDERS SUBSIDIARY SUSTAINABILITY MANAGEMENT SUSTAINABLE DEVELOPMENT TEAM WORK TECHNICAL ASSISTANCE THINKING TRAITS TRANSITION ECONOMIES TRANSPARENCY TURNOVER VALUE CREATION VISION
spellingShingle	ACCOUNTABILITY AUTHORITY BEHAVIORS BEST PRACTICES BOARD MEMBER BOARD MEMBERS BUSINESS STRATEGY CEO CITIZENSHIP COLLECTIVE COMMUNICATION STRUCTURE COMPANY COMPETENCIES COMPETITIVE ENVIRONMENT COMPETITIVE INFORMATION CONSENSUS CONTINUOUS IMPROVEMENT CONTINUOUS LEARNING CORPORATE CITIZENSHIP CORPORATE CULTURE CORPORATE FAILURES CORPORATE GOVERNANCE CORPORATE GOVERNANCE PRINCIPLES CORPORATE SOCIAL RESPONSIBILITY CORPORATE STRUCTURES CORPORATIONS CREDIT RATING DECISION MAKERS DECISION MAKING DECISION MAKING AUTHORITY DECISION MAKING PROCESSES DECISION QUALITY DECISION-MAKING DECISION-MAKING PROCESS DISCLOSURE DISCUSSION ECONOMIC DEVELOPMENT ECONOMIC REFORM EXECUTION FINANCE CORPORATION FINANCIAL CRISES FINANCIAL INFORMATION FINANCIAL MARKETS FINANCIAL RESOURCES FRAUD GLOBAL COMPACT GLOBAL CORPORATE GOVERNANCE GLOBAL FINANCIAL MARKETS GLOBAL LEADER GOOD CORPORATE GOVERNANCE GOOD GOVERNANCE GOVERNANCE MECHANISMS GOVERNANCE PRINCIPLES GOVERNANCE REGULATIONS HUMAN CAPITAL INCOME INDEPENDENT AUDIT INDIVIDUAL COMPANY INDIVIDUALS INFORMATION FLOW INFORMATION FLOWS INTANGIBLES INTELLECTUAL ASSETS INTERNAL CONTROL INTERNATIONAL FINANCE LEADING LEARNING LIMITED LOGIC LOW-INCOME COUNTRIES MANAGEMENT OVERSIGHT MANAGEMENT ROLES MANAGERS MARKET SHARE ORGANIZATIONAL STRUCTURE OUTPUT OUTPUTS PARLIAMENT PERSONAL KNOWLEDGE POOR GOVERNANCE QUALITY OF INFORMATION REFORM PROGRAMS REPUTATION RISK MANAGEMENT SHAREHOLDERS SPONSORS STAKEHOLDERS SUBSIDIARY SUSTAINABILITY MANAGEMENT SUSTAINABLE DEVELOPMENT TEAM WORK TECHNICAL ASSISTANCE THINKING TRAITS TRANSITION ECONOMIES TRANSPARENCY TURNOVER VALUE CREATION VISION World Bank A Corporate Governance Model : Building Responsible Boards and Sustainable Businesses
relation	Private Sector Opinion; No. 17
description	The foundation of good corporate governance is the intellectual honesty of directors and senior management. This intellectual honesty is expressed by acting in the best interests of the incapacitated company. The company, on formation, is a person, but it is absolutely incapacitated until its directors are appointed and the board in turn delegates to management the implementation of its collective decisions. It is the quality of governance that is important and not the quantity. Mindless compliance with a set of rules is not good governance. Good governance connotes acting with responsibility, accountability, fairness and transparency. Transparency has a withering effect on misconduct and is absolutely critical in communicating to stakeholders any decisions of the board. In this context, transparency demands that the communications consist of substance over form and contain positive and negative aspects, if any. The board of directors is the most important element in corporate structures. Issues such as the composition of the board of directors, the issues that the board focuses on, processes they follow for decision making and how they learn to continuously improve the governance of the corporation critically influence the quality of decisions and the management quality. The main responsibilities of the board are to provide an effective oversight for the management and guidance to the corporation with value creating strategies. The quality of their decisions is critically dependent on the quality of the information they have. Establishing a culture that sets the right tone at the top is critical for establishing the 'trust' for the corporation.
format	Publications & Research :: Brief
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	A Corporate Governance Model : Building Responsible Boards and Sustainable Businesses
title_short	A Corporate Governance Model : Building Responsible Boards and Sustainable Businesses
title_full	A Corporate Governance Model : Building Responsible Boards and Sustainable Businesses
title_fullStr	A Corporate Governance Model : Building Responsible Boards and Sustainable Businesses
title_full_unstemmed	A Corporate Governance Model : Building Responsible Boards and Sustainable Businesses
title_sort	corporate governance model : building responsible boards and sustainable businesses
publisher	Washington, DC
publishDate	2012
url	http://documents.worldbank.org/curated/en/2010/01/12064382/corporate-governance-model-building-responsible-boards-sustainable-businesses http://hdl.handle.net/10986/11098
_version_	1764415520178700288

A Corporate Governance Model : Building Responsible Boards and Sustainable Businesses

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