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Corporate Governance
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This Corporate Governance Framework is brought to you by
CGF
For more information regarding CGF, please visit their website at,
www.cgf.co.za
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‘Good governance’ seems to be the latest ‘buzz’ expression as geopolitical issues,
including the world economy shudders within these troubled times. However, it’s
not a new concept to mankind, neither the manner in which business should be conducted.
Good governance is concerned with holding a balance between economic and social
goals and between individual and communal goals. In fact, the concept of good governance
has been around for a very long time - we’ve just attached a convenient label to
it. One wonders how business and their stakeholders reacted to Sir Edward Cole’s
statement in 1602 when he said, “Fraud and deceit abound in these days more than
in former times!”
Moving ahead, business and its communities worldwide understand the imperative to
embrace greater moralistic and ethical values, and such where a governance framework
encourages the efficient use of resources, including the accountability to use those
resources in a responsible manner. The symbiotic relationship between a society
and its economy will forever cause an economy to depend upon the global ecosystem.
Accordingly, businesses are critically dependant upon the health of their environment,
with a direct bearing upon the company’s bottom line. It is therefore becoming more
important for companies to engage their stakeholders with a clear vision of their
shared future. To this end, the phrase, “good governance” must be corporately encapsulated
and driven from the top of governments, businesses and their people. Corporate governance
should not be seen simply a phrase, neither a phase; but rather as a “system by
which companies are directed and controlled.”[King Report on Corporate Governance
for South Africa 2002]. Corporate governance is certainly not a single event; its
enactment signifies a company’s commitment of all its practices and behaviours being
subjected to continuous scrutiny by its stakeholders and such where the company
is committed to ensure that fairness and transparency prevails through all its operations.
Understandably, companies should practice qualitative corporate governance rather
than quantitative governance to ensure that the company is run properly.
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About CGF
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CGF is a private company that specialises in conducting umbrella research on Corporate
Governance. CGF has developed a Corporate Governance Framework Body of Knowledge
comprising feature reports that cover many aspects spanning a broad range of governance
issues which we make available to organisations on a subscription basis. Within
the Body of Knowledge (VANTAGE), we have developed additional governance subsection
products to assist smaller companies within this arena, namely Governance Connect,
the Director’s Fasttrack Manuals, Policy Template Handbooks, governance monthly
reports and various published articles.
Our capabilities extend to management consulting, executive learning and facilitation
of Corporate Governance awareness workshops, which caters for large corporates to
small and medium sized businesses.
Our research is designed in such a manner to create a high-level awareness and understanding
of issues impacting a CEO through to all employees of the organization and is presented
in a simple, practical manner, offering guidelines and thought provoking insights
that provide the opportunity for all levels of employees to familiarize themselves
with matters they ordinarily wouldn’t become involved in.
The reports cover numerous facets such as King I & II, BASEL I & II, PFMA, BEE,
Diversity Management and Succession Planning, including a variety of local and international
commissions, laws, reports and articles that highlight many interesting areas as
they pertain to running a healthy business.
They further deal with issues ranging from the role and responsibilities of directors,
company secretaries and auditors, social and economic impacts through to multiple
governance recommendations.
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