Core Principles of Good Governance:
- Transparency: Clearly and accurately disclose information to build trust.
- Accountability: Ensure all parties are responsible for their actions and decisions.
- Independence: Safeguard the decision-making process from external influences.
How Governance Enhances Trust:
Good governance is a cornerstone for building strong relationships with investors and clients. By adopting governance principles, organizations can enhance their reputation and foster sustainable partnerships.
Steps to Design an Effective Governance Framework:
- Clearly define the roles and responsibilities of the board of directors.
- Establish robust policies to manage conflicts of interest.
- Adopt international standards like ISO 37000 to guide governance processes.
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