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1. Please explain what corporate governance is. Why it’s important? 2. Please explain and give examples for each force in societal environment · Economic Forces · Technological Forces ·...

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1. Please explain what corporate governance is. Why it’s important?
2. Please explain and give examples for each force in societal environment
· Economic Forces
· Technological Forces
· Political-Legal Forces
· Sociocultural Forces
Answered Same DayMar 07, 2020

Solution

Priya answered on Mar 08 2020
92 Votes
Questions
    Questions    2018
1. Please explain what corporate governance is. Why it’s important?
Corporate governance is a process, mechanism, system and relations by which the companies are controlled and directed. The corporate governance is responsibly run by the Board of Directors who is appointed by the Share holders. This is a suitable governance structure under which the companies are run and managed by technique to meet the social and economic goals (kumar, 2001). Corporate governance is very important for the success of the company as it promotes internal control and monitors the implementation of the policies.
2. Please explain and give examples for each force in societal environment
· Economic Forces: Economic forces in societal environment are the forces that help to determine the competitiveness in the environment under which the company runs (Hamel). The economic environment affects the company’s business environment. These forces are determined through following internal and external factors:
· Rate of inflation
· Fiscal and monetary policy
· Demographic changes
· Rate of Interest
· Inflation
The outcome of the firms marketing is affected by these...
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