What is Corporate Governance and its Core Principles?

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Corporate Governance is the system of rules, practices and processes by which a company is directed and managed. It sets out the rules and procedures for making decisions on corporate affairs and helps to ensure that the company is managed in an accountable and transparent way.
At its core, Corporate Governance is based on four core principles: transparency, accountability, responsibility, and fairness.
📌 Transparency: Companies must be open and honest in their operations. This means providing information to stakeholders in a timely manner and allowing shareholders to have a say in how the company is managed.
📌 Accountability: Companies must be accountable for their decisions and actions. This includes being accountable to shareholders and other stakeholders for the decisions that are made.
📌 Responsibility: Companies must take responsibility for their decisions and actions. This includes being accountable for any losses or damages that may result from their decisions or actions.
📌 Fairness: Companies must be fair to all stakeholders. This includes treating employees, customers, and suppliers fairly. It also means that the company should make decisions that are in the best interest of all stakeholders.