Setting the pace: Getting started in NGO corporate governance
The study takes a point of departure in explaining how non governmental organisations can adapt and adopt effective corporate governance practices viz- a- viz, how NGOs can adapt and adopt to corporate governance. Several non governmental organizations do not observe good corporate governance More
The collective problem of business today is increasingly attributed to the failure of corporate governance. This means that far too many boards are failing to execute their duties responsibly, both collectively and individually. Despite increasing awareness, there is a general lack of understanding of the principles of effective corporate governance in most quarters.
Several non governmental organisations do not observe good corporate governance and this to the collapse of many. There are no set rules that are binding and which establish the ways in which organisations have to govern themselves.
Effective governance and accountability begins in one’s organisation, no matter how big or small. This means ensuring that the appropriate processes and structures are in place to direct and manage an organisation’s operations and activities, and to ensure the effectiveness, credibility and viability of the organisation. Increasingly, revelations of deterioration, in quality and transparency have called for the adoption of internationally accepted best practices. Corporate governance encompasses commitment to values and to ethical business conduct to maximize shareholders values on a sustainable basis, while ensuring fairness to all stakeholders including customers or beneficiaries, employees and investors.
The harsh economic conditions that prevailed in the country since 2007 have given non governmental organisation a difficult time that required them to have good corporate governance practices.