engleski

Corporate Governance as a Process-Oriented Approach to Socially Responsible Organizations

Corporate governance is usually treated as a legal framework for decision making, or the set of financial regulations in modern organizations. It is possible however, to highlight some other aspects of corporate governance within organizations or in their dynamic environment. According to the stakeholders’ expectations, the concept of corporate governance, when implementing, should facilitate the integration of strategic management and operating core of the organization structure, including its tehnostructure and supporting modules. Consequently, the proper definition of the dominant processes, building the corporate governance model in any organization, can significantly influence the organization’ s effectiveness. It is important to recognize at least two levels of corporate governance influence: corporate level and board level. On corporate level, the dominant processes are strategic planning, financial reporting, controlling, and public relations ; while on board level dominate communicological aspects of enterprise functionality such as board members interaction and relationship between Supervisory board and Managing board. Collective dynamics in decision making and cooperation (i.e. how separate entities in an enterprise function both as teams and in interaction between each other) can also contribute to the proper definiton of processes in corporate governance. The existence of two boards within a joint-stock company, representing owners and hired managers, opens many questions for monitoring diverse processes in corporate governance, and for development and use of the appropriate codes of behaviour.

process, corporate governance, social responsibility

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