Sample Management Essays on Managing and Balancing Governance

Leadership refers to an individual’s ability to influence others in one way or the other resulting in success or effectiveness particularly in the organizational context. Organizational leaders have a difficult task to management and balance responsibilities related to corporate governance, compliance, and regulatory-related issues with stakeholders needs. At the same time, they have to satisfy existing marketplace demands.

Corporate governance refers to systems put in place to ensure companies are well controlled and directed. In most organizations, boards of director play a key role when it comes to governance. Organizational leaders create a culture of transparency, inclusiveness, and responsiveness thus ensuring exemplary performance both at individual and organizational level. With such a level of performance, expectations and needs of stakeholders are met while also satisfying demands of the marketplace.

In the organization or business context, compliance is a process of ensuring employees abide by set rules, regulations, standards as well as ethical practices applicable to a specific organization or business. For the much-needed effectiveness, compliance must cover both rules or policies formulated internally as well as those put in place by federal or state authorities. It is the responsibility of organizational leaders to ensure that every unit or department abides by the said rules. They achieve this by setting deadlines for employees to acknowledge various policies and procedures, making sure the policies are accessible to employees, and ensuring set policies are feasible (Benedek, 2012). Compliance lays out expectations or needs of stakeholders and marketplace that employees have to work hard to meet.

Compliance at the organizational or business context is closely associated with regulations. Regulations must be followed to prevent any form of legal punishment such as federal fines that might jeopardize the objectives of stakeholders and hinder competitiveness in the marketplace. For effective adherence to regulations, organizational leaders must identify applicable regulations and requirements and push for collaboration among team members to ensure adherence (Benedek, 2012). Organizational leaders can then document compliance reviews to the satisfaction of stakeholders.

Organizational leaders have a difficult task in managing and balancing the duties of corporate governance, compliance, and regulatory issues with stakeholders’ needs while meeting marketplace competitive demands. The difficulty aside, they have to do everything possible to ensure organizations stay afloat in the competitive market while also ensuring that stakeholders’ needs are met.

 

 

Reference

Benedek, P. (2012). Compliance Management – A New Response to Legal and Business Challenges. Acta Polytechnica Hungarica9 (3), 135-148. Retrieved from https://www.uni-obuda.hu/journal/Benedek_35.pdf