Internal And External Structures Of Corporate Governance
INTERNAL & EXTERNAL STRUCTURES OF CORPORATE GOVERNANCE
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The company chosen for this coursework is Morrisons
Part A
Corporate governance is the vehicle by which companies are directed and controlled. As such there are internal and external structures of Corporate Governance.
Introduction
Corporate governance is a system in which corporations are controlled and directed with the intentions of monitoring the actions of the management and directors. It is composed of both internal and external corporate structures and aims at reducing the risks which arise from the corporate officers. Corporate governance is considered as a system which allows companies to be controlled and directed.
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There are several forces outside the firm which affect the decision making of the organization and its financial outlay. The external forces affect the firm’s performance through raising up issues which they feel they have not been done right. (Saleem Sheikh, 2008, p 95) It is the duty of the directors of the company to ignore them or take them as part of the organization. However, three of the major external structures of the corporate governance includes the following; the independent auditors or the external auditors, General stakeholders and the government. (McCready, 2008, p …show more content…
According to the chairman, Andrew Higginson, it has been in competition for nearly twenty years. It has been performing well due to its attributes and unique characteristics. The Morrison’s has great traders, strong fresh offers and deserved reputation for offering good value and this has enabled them to be in the front row in competition.
It deals with high quality, fresh products that are manufactured by their own manufacturing production facilities and this has given them the unique advantage of flexibility, speed to market and provenance. They also have qualified personnel of butchers, fishmongers, bakers and greengrocers than any competitor in the market. This enables them to attract more customers that in turn increase their sales. More customers imply more volume growth and ultimately lead to profitability in
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