EFFECT OF ACHIEVEMENT NEEDS ON WORKS ATTITUDE OF CIVIL SERVANTS
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EFFECT OF ACHIEVEMENT NEEDS ON WORKS ATTITUDE OF CIVIL SERVANTS
Chapter one
INTRODUCTION
1.1. Background to the Study
The origins of corporate governance can be traced back to the nineteenth century, when state corporation statutes expanded the rights of corporate boards without shareholder approval. They did it in exchange for statutory privileges like appraisal rights, with the goal of improving corporate governance efficiency.
Recently, corporate governance has been a hot topic among a wide range of people, including government officials, industry operators, directors, investors, shareholders, academics, and international organisations, to name a few.
Organisational transparency, financial disclosure, independence, board size, board diversity, and other factors are now recognised as cornerstones of sound corporate governance procedures.
Most meetings and conferences around the world, including those held by the World Bank, International Monetary Fund (IMF), and Organisation for Economic Cooperation and Development (OECD), include these factors on their agenda.
Corporate governance is a set of processes, regulations, laws, and institutions that influence how a corporation is managed. The nature and level of accountability of persons in company, as well as mechanisms that attempt to reduce principal-agent problems, are major themes in corporate governance.
It also includes the relationship between the many parties engaged and the purposes for which the organisation is controlled. In a very small firm, the ability of its members to operate reliably and efficiently to fulfil the organization’s objectives is a critical prerequisite for the survival of a company or, more broadly, an organisation.
The substance coordination of behaviour can be accomplished in a variety of ways. The manager can immediately verify that the duties are completed in the way he believes is appropriate.
The issue of corporate governance is therefore resolved, with completed issues relating optimal institutional mechanisms, effective monitoring, and balancing competing interests of stakeholders (both internal and external) to the corporate governance structure (Williamson, 2002). Today, corporate governance is a complicated mosaic of legal registrations.
According to Sir Adrian Cadbury (2000), the corporate governance structure exists to support the effective use of resources while also requiring accountability for their management.
According to Strine (2010), corporate governance is the establishment of structures, processes, and mechanisms to ensure that the firm is directed and managed in a way that enhances long-term shareholder value through manager accountability, which will then improve an organization’s performance.
OECD (2004) defines corporate governance as the framework by which business corporations are governed and controlled in the interests of all stakeholders.
Currently, many government authorities around the world are concerned about corporate governance due to a surge in documented incidences of fraud, inside trading agency conflict, and other corporations.
Recently, experts around the world have become increasingly interested in corporate governance and its impact on organisational goals. The study looks into the impact of corporate governance on organisations in order to determine the importance of corporate governance in all organisations.
This is because corporate governance is thought to have a considerable impact on an economy’s economic potential. Good corporate governance standards are viewed as vital in lowering investor risks, attracting investment capital, and increasing organisational performance.
Corporate governance is regarded as the basic framework for supervisory procedures and control on the board of directors: to assure the accuracy of procedures connected to management control processes, executive management, and the objectiveness of measures.
This ensures the protection of shareholders’ interests by improving the organization’s financial performance. One of the primary causes of major company failure is department complicity
weak structures, weak control and follow-up units, and a lack of disclosure and transparency required to improve the entity of the organisation and its main stakeholders, resulting in deficiencies in the organization’s financial performance.
Organisations cannot function effectively without solid corporate governance. As a result, every organisation now has a strong stake in ensuring that efficient corporate governance exists in an increasingly transparent world.
Corporate governance refers to the processes and structures that direct and manage institutions’ business and affairs in order to improve long-term shareholder value by improving corporate performance and accountability while considering the interests of other shareholders.
1.2. Problem Statement.
Many Nigerian organisations have previously engaged in unethical acts, casting doubt on their corporate image. As a result, communication companies, like other network communication companies, have faced difficulties due to customer complaints about network quality, as well as frequent cuts to fibre networks that connect cell sites.
Poor governance standards caused the demise of numerous organisations in Nigeria. As a result, the necessity to investigate corporate governance and its impact on achieving organisational goals developed.
1.3. Objectives Of The Study.
In general, this study aims to investigate the relationship between internal and external corporate governance, as well as its impact on organisational goals. However, the specific aims include:
Determine whether corporate governance influences the achievement of organisational goals.
To empirically evaluate whether there is a meaningful relationship between corporate governance disclosure levels and their impact on organisational goal achievement.
To assist in developing a positive relationship between top management and junior staff employers.
To determine whether management contributes to the implementation of corrective measures for employees.
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