CHAPTER 1
- INTRODUCTION
Corporate government is considered the general framework for supervisory procedures, and control on Board of Directors: on order to ensure procedure correctness related management control process, executive management, and correctness of measures to be objective this ensure maintaining shareholders rights through strengthening of the organization financial performance. One of the main reason that led to major companies collapse is department complicity, weak structure, weak control and follow-up units, and lack of disclosure and transparency required to enhance the entity of the organization and main stakeholder rights with the company and the shareholders, which led to deficiencies in companies financial performance, since financial performance is considered one of the most important measures of management efficiency and indicating implement commitment of rules and standards used in organization.
1.2Â Background of the Study
Corporate government is a number of process, policies, law and institutions which impacts on the way a company is controlled. An important theme of corporate government is the nature and extent of accountability of people in the business and mechanism that try to decrease the principle agent problem
Corporate government also include the relationships among the many stakeholders involved and the goals for which the corporation is governed; An essential condition for the survival of a company or more generally of an organization lies on the ability of its members to act reliably and efficiently to achieve the objectives of the organization. In a very small business. The substance coordination of behavior can be achieved in numerous way. The manager can verify directly that they tasks are performed on the way he thinks which is suitable. But the supervision of the manager and the mutual adjustment among various actors Mintzberg, (1982) are quickly becomes insufficient when the number of the firms increased.
The issues of corporate governance is thereby complete with completed issues connecting ideal institutional mechanism effective monitoring and balancing of competing interest of stakeholders (both internal and external to the corporate governance structure (William 2005) today corporate governance is complex and mosaic consisting of law registration. According to Sir Adriah Cadbury (2000) the corporate governance framework is there to encourage the efficient use of resource and equally for required accountability for the stewardship of those resources.
- Statement of Problem
In the past, so many organizations in Nigeria have been involved in unethical practices, which puts the credibility of their corporate image dout. As such Airtel communication. Company just like other network communication company have been constraint with issues arising from customers complaint of network quality are frequent cuts of Fibre networks which link the cell sites. Previous resources into the subject has brought to light the poor governance of so many companies with indebted account in Nigeria economy. Their accounting system did not reflect the companies financial status. A typical example is the financial scan of Oceanic and intercontinental Bank after the consolidation. Most management of such outfit were not accountable to stakeholders of the companies. Beside, the counts and the regulatory, agencies were short of authority, corruption and kickbacks were part of the system in the companies. The poor governance practices led to the collapse of so many companies in Nigeria. Hence the need to study corporate governance and it impact on the achievement of organizational goals.
- Objective of the Study
- To examine the internal and external corporate governance in an organizational structure
- To examine the effect of corporate governance in an organization
- To identify the systemic problem of corperate governance in an organization structure
- To proffer workable solution to the identified problem
1.5Â Â SIGNIFICANCE OF THE STUDY
The study will be significant to achieving of the organizational goals especially as they utilize enhancing policy governance in the organization. The study will also add to the existing knowledge on the subject matter and will also be a reference material for further research on corperate governance.
1.6 Â THE RESEARCH QUESTIONS
The central research question is what is the impacts of corperate governance on the achievement of organizational goals?
The specific questions are:
- Does corperate governance affect the achievement of organizational goals.
- Does the internal and external corperate governance control mechanism of any significant in an organization.
- Is there any systemic problem of corperate governance in an organization
- Is there any possible solution to such problem.
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