The Future of Corporate Governance
DOI link for The Future of Corporate Governance
The Future of Corporate Governance book
This chapter explores the use of scenario planning in the business world and has helped make it one of the most flexible and valuable business tools of all time. Globalisation has brought increasing benefits to both rich and poor societies, but growing inequality. 'Prism' has its own interconnected circles of global elites, which are concerned about interests which overlap and which are sustainable. In both business 'class' and 'prism' there are significant potential challenges to effective corporate governance. 'Business class' reflects a world in which global business drives the economy and influences the working of society. Many critics of corporate governance see it as a distraction from the pursuit of the long-term interests of the company. The next major strategic issue in corporate governance is the operating and financial report (OFR) which will be required under the proposed new companies act. Corporate governance may evolve towards a focus on the relationship between shareholders and the board of directors.