In: Finance
In no more than 300 words, explain why the quality of corporate governance is relevant to the effective management of educational institutions.
Corporate governance is nothing but how the company's higher level authorities act, and how they set values.The major responsibilities of the board re to set the strategic objectives.providing leadership to implement them and how they are going to report to the shareholders, managing risks,business operations,annual operating plans and budget,effective succession planning.These are all the qualities of the corporate governance.The main principles of Corporate governance are Equal treatment of the shareholders
transparency
Responsibility
Accountability
Fairness
Ethical Behavior
Consistent
Its all about bringing transparency in the company's behavior.The important actors are the board of director,shareholders and the management of the company.
As discussed above the qualities of corporate governance can be applied to educational institutions as well.
Education is the key to drive a country's growth.The educational institutions should clearly mention the vision and mission,its responsibilities,practices, policies exercised by the institution.The institution should make sure that all the resources are used responsibly and correctly and that all the objectives are implemented.The educational institution should not charge differential fee based on the religious groups, ethnic group ,caste or any other thing.A good governance makes the institution more successful in the eyes of the people and makes them ethical.