The Need for Corporate Governance

May 29th, 2015
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The broader applicability of corporate governance is captured well in the chart on page 17. This World Bank chart illustrates both internal and external mechanisms that make up an effective corporate governance framework. The traditional structure of corporate governance captured on the left side of the chart addresses conventional issues: the relationship among shareholders and between shareholders and the board of directors, the relationship between the board and managers, board composition procedures, management operation, etc. All these different parts, important in their own right, make up the internal, or governance, function of a corporation.

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Business modelThe essence of a business model is that it defines the manner by which the business enterprise delivers value to customers, entices customers to pay for value, and converts those payments to profit: it thus reflects management's hypothesis about what customers want, how they want it, and how an enterprise can organize to best meet those needs, get paid for doing so, and make a profitFormal descriptions of the business become the building blocks for its activities. Many different business conceptualizations exist; Osterwalder's work and thesis (2010[1], 2004[3]) propose asingle reference modelbased on the similarities of a wide range of business model conceptualizations. With hisbusiness model design template, an enterprise can easily describe their business modelInfrastructureKey Activities: The activities necessary to execute a company's business model.Key Resources: The resources that are necessary to create value for the customer.Partner Network: Thebusiness allianceswhich complement other aspects of the business model.OfferingValue Proposition: The products and services a business offers. Quoting Osterwalder (2004), a value proposition "is an overall view of .. products and services that together represent value for a specific customer segment. It describes the way a firm differentiates itself from its competitors and is the reason why customers buy from a certain firm and not from another."CustomersCustomer Segments: The target audience

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