CORPORATE GOVERNANCE AND ETHICS IN BUSINESS
Corporate governance is the system of rules, practices and processes by which a company is directed and controlled. Corporate governance essentially involves balancing the interests of a company’s many stakeholders, such as shareholders, management, customers, suppliers, financiers, government and the community.
Corporate governance is about the way in which boards oversee the running of a company by its managers, and how board members are in turn accountable to shareholders and the company. This has implications for company behavior towards employees, shareholders, customers and banks. Good corporate governance plays a vital role in underpinning the integrity and efficiency of financial markets. Poor corporate governance weakens a company’s potential and at worst can pave the way for financial difficulties and even fraud. If companies are well governed, they will usually outperform other companies and will be able to attract investors whose support can help to finance further growth.
Everyone loses out when corporate governance falls by the wayside
The primary objective of a corporation is to increase shareholder value. Hence, Successful corporations operating within society must maintain the values and norms of the society in which they operate. This is where corporate governance and ethics in business comes to play.
Corporate governance deals with maximizing the shareholder’s wealth, putting into consideration the welfare of all stakeholders and the society
Ethics in business centers on developing trust and maintaining it, thereby securing the profitability and reputation of the firm.
Corporate governance and ethics remain significant in the business world. They must be seen as a system of shared and transparent governance which seeks to establish the general frameworks and guidelines for managers at varying levels, by enforcing the values of transparency, responsibility and professionalism.
This course equips you with skills to increase in the accountability, and consequently the image of a company.
LEARNER’S LEARNING OUTCOME
This program would help the participant gain a good understanding of the corporate governance concept within the business and its financial environment; become familiar with the ongoing global best practices in corporate governance concepts; and, gain a new perspective of the impact of good corporate governance practices on ensuring the efficient management of a an organization.
At the end of the course, participants should be able to:
- Understand business forms and the concept of corporate governance,
- Understand how good corporate governance practices improve the chances for firms to gain better access to finance.
- Apply the four pillars of corporate governance in policy development and strategy
- Apply the principles of good corporate governance in day-to-day business management
- Understanding how board of directors in a modern corporate entity ought to act to prevent malfeasance.
- Consolidate the roles and responsibilities of management, by setting in place critical monitoring activities such as internal auditing.
- Mirror local and international legal and regulatory frameworks in corporate governance and business ethics
- Lead more effectively by emphasizing ethical values in the conduct of the business.
- Develop framework for avoiding individual decision traps and improving board decisions.
- Reflect, freshen and strengthen skills for policy formulation and making decisions that affect employees and other stakeholders.
- Acquire a new and expanded view of the critical elements of leadership; and gain insights into their leadership abilities and challenges.
COURSE CONTENT
- Introduction to Corporations & Corporate Governance
- Corporate Governance Principles
- Basic Ethics concepts and distinction
- The Nigerian and International Corporate Governance Frameworks
- Board Recruitment, development and assessment
- Legal obligations of Boards of Directors
- Understanding Financial Statements
- Importance of ethics to the Organization.
- International corporate governance practices.
- Board of Directors: Structure and Process. Separation of Chair and CEO roles.
- Board of Director Selection, Compensation Removal and Recruitment
- Specialized Tasks of Board of Directors. “Beyond the CEO”
- Governance of executive compensation.
- The Audit Committee and the Governance of Financial and other Reporting
- Corporate Take Overs: Mergers and Acquisitions
COURSE METHODOLOGY
- Formal lectures
- Case studies
- Group exercises
- Experience sharing
- Role Playing
BENEFITS
- Efficiency in business
- Increased accountability
- Positive brand image
- Increased profitability
- Increased market share
- Customer loyalty
WHO CAN ATTEND THE TRAINING?
Directors of government MDAs, profit and non-profit organizations responsible for carrying out corporate oversight functions. Heads of Legal Department, Auditors, Risk Managers, Company Secretaries and Human Resources Managers would also be most appropriate for this course.
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