Contents

• INTRODUCTION
• WHAT IS IT AND HOW IT WORKS
• CORPORATE GOVERNANCE AND VARIOUS ENTITIES
• DIFFERENCE IDENTIFICATION AND CONCLUSION
• LIST OF REFERENCES

Description

Not for profit organizations existed in our society for long and even today to stabilize the social responsibilities of people. Especially the working class, both blue and white coloured professionals. The Not-for-Profit organizations worked towards ensuring that as much people earn, one portion of their earning should effect the society, principally as well as literally. They i.e. the Not-for-Profit organizations are still around however large corporate organizations have also embarked into this duty socially and a new keyword has evolved ‘Corporate Governance’. A new concept like corporate governance was to be understood and in case the society is scanned thoroughly, it would be seen that the concept is still not understood properly. An accumulation of multiple processes and policies with different characteristics, eventually affecting the way a group or association is directed or administered or controlled is called corporate governance. This relation could be a country or even a company. The objective of corporate governance is governed by a common objective wherein all the stakeholders who revolve around this common objective would become a part of the corporate governance rules. The task of corporate governance is to ensure accountability of any specific individual or group to reduce changes of error happening in a society and hence the contribution that it makes is immense in economic efficiency of a country as a whole (Robert, Monks, Minow, 2008).