Corporate governance has become a hot issue in the U.S. over the past two decades. Determine...

Corporate governance has become a hot issue in the U.S. over the past two decades. Determine two possible corporate governance challenges that might be faced by Best Buy as a result of its rapid growth and why they could become corporate governance issues. Make recommendations for how Best Buy can overcome these challenges. Provide specific examples to support your response.

Expert Solution

Corporate governance refers to the set of certain rules and practices.It is a process by which a firm is directed and controlled.One of the main essentials of corporate governance is to balance the interest of company's various stakeholders. Stakeholders includes the shareholders , government, debtors,creditors, employees, directors,etc.

The major challenge faced by Best Buy was that of balancing interest of its stakeholders as one of the directors used companys fund carry on an affair with the female employees and hence, wasting companys money. The company overcame the problem by accepting the directors resignation. The company also amended its policies regarding remunerations and perquisites awarded.

Another major issue faced by Best Buy was board room turmoil caused due wasting of millions of $ on leasing aircrafts from the founder.The same too was tackled by amending its policies of taking cash back from auch executives rather than only loosing stock option.

jeff jeffy answered 2 years ago

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Corporate governance has become a hot issue in the U.S. over the past two decades. Determine...

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