Managing and Balancing Corporate Governance

Organizations strive to find effective ways to manage corporate governance and regulatory compliance. Leaders are mandated to implement communication strategies that foster strong relationships with their stakeholders (Weiss, 2014). Such relationships help build trust and create a conducive organizational environment and culture for business continuity. In essence, corporate governance entails practice that direct and control an organization. Managing and balancing corporate governance and regulatory issues requires understanding the needs of all stakeholders, including employees, shareholders, and customers (Weiss, 2014). As such, building strong relationships can help understand and address their needs. Leaders must communicate effectively with the stakeholders and involve them in the decision-making process. The significance of managing and balancing governance is far-reaching. More so, through balancing corporate governance, the organization can boost its competitive advantage and address its stakeholder needs (Bhagat & Bolton, 2019). In the long run, leaders should incorporate self-monitoring on compliance, enforce supervision mechanism, and encourage timely and effective communication.

Integrating stakeholder expectations into the business process and aligning them with its vision and set objectives is a major key to organizational success. Leaders evaluate the performance of all stakeholders to ensure that their individual and collective goals match those of the organization (Bhagat & Bolton, 2019). Likewise, promoting ethics and integrity within the business structure is critical to achieving stakeholder expectations. Indeed, ethical dealings within the organization`s processes are achieved by following all the regulation and compliance agreements that guide the business. Issues surrounding corporate governance, compliance, and regulation arise when leaders fail to incorporate a working culture and effective communication (Weiss, 2014). Ultimately, leaders should possess ethical and moral values that will guide them in achieving their stakeholder needs. Moreover, leaders should remain transparent and formulate strategies and initiatives that will increase the organization`s competitiveness. Such strategies can include self-evaluation, fostering fairness, and inclusivity.

References 

Bhagat, S., & Bolton, B. (2019). Corporate governance and firm performance: The sequel.  Journal of Corporate Finance ,  58 , 142-168.  https://doi.org/10.1016/j.jcorpfin.2019.04.006 

Weiss, J. W. (2014).  Business ethics: A stakeholder and issues management approach . Berrett-Koehler.