Corporate Governance
- Mar 29, 2016
- 2 min read
"Stakeholders' relationship is considered the best benefit of a firm, and is a matter of enlightened self interest."
Before an organization handles their activities outside the work place, they must first consider the welfare of those within the company. There is a need to prioritize customers but utmost attention and support should be given to employees and shareholders. The executives of a company should always make sure that their employees are happy and satisfied with their stay inside the company halls. There is a reason a systemized approach is being conducted by top organizations, since they want to establish loyalty within their employees because for them and as commonly known, humans are the best assets of a corporation.
In my perspective, it his hard to manage a company especially the large ones. Top management cannot closely monitor those in the rank and file positions and it is only through the managers that they are updated of those employees' performance. But all these may be resolved with proper guidance and just as long as every employee of the company keeps in mind a common mission, vision and goal, there will be confidence amongst the relationship of these different-leveled employees.
Allocation of resources within the employees is very important for they must always feel treasured and not neglected. It is systematic since benefits depend on the position of the employee or their rank in the organizational chart but there should not be any bias for equal treatment or equal amount equivalent should be allocated for these employees. As we all know, financial matters will always be an issue to an organization but with proper management, it is not impossible to eliminate such problems.
It is in a human's natural behavior to react to how they are being treated and through good corporate governance or the set of relationships and networks between a company's management, its board of directors, its shareholders and stakeholders, it will ensure the shareholders a fair rate of return.
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