Good Corporate Governance and Sustainability Research Paper

Good Corporate Governance and Sustainability - Research Paper ExampleUnder the dear(p) corporate government applied, Ford performed very well in backup plan development and compensation, business plan review, special attention review and automotive strategy meeting, corporate policy letters and directives, centering systems. That is the main reason why Ford is only one of the auto companies which kept performing during the 2008 global financial crisis in America.Mallin (23) asserts that the element of renewal in companies is one of the things that benefit from corporate institution. Corporate governance promotes diversity by, firstly, ensuring a board of governance or accompany leadership that respects diversity. Gender diversity in companies leadership is one of the crucial issues commentators of corporate governance have emphasized. In the past quin years, seven countries have passed legislation mandating female board representation and eight have set non-mandatory targets . A study of Canadian companies showed that boards with three or more women performed much better in terms of governance than companies with all-male boards. The study also found that the more gender-diverse boards were more likely to focus on clear communication to employees, to prioritize customer satisfaction, and to consider diversity and corporate social responsibility. To illustrate the point above, McKinsey & Company, as the domain of a functions leading consulting firm, is a great example in the real world.Mallin (24) attributes the improvement of a companys economic and financial performance to the varying skills and abilities of diverse groups of people. He argues that the skills of people from different backgrounds subdue homogenous groups. In order for companies to uphold corporate governance to ensure diversity, they invite applications from the public. This helps companies to poola variety of skills and abilities from which they can appointable candidates. In additi on, corporate leaders use mentorship to educate persons from lower levels with the skills required to treat senior positions.