Yekaterinburg, Russia

Corporate Governance and Strategy

Language: English Studies in English
Subject area: economy and administration
University website: urfu.ru/en/
3 years
Corporate Governance
Corporate governance is the mechanisms, processes and relations by which corporations are controlled and directed. Governance structures and principles identify the distribution of rights and responsibilities among different participants in the corporation (such as the board of directors, managers, shareholders, creditors, auditors, regulators, and other stakeholders) and includes the rules and procedures for making decisions in corporate affairs. Corporate governance includes the processes through which corporations' objectives are set and pursued in the context of the social, regulatory and market environment. Governance mechanisms include monitoring the actions, policies, practices, and decisions of corporations, their agents, and affected stakeholders. Corporate governance practices are affected by attempts to align the interests of stakeholders. Interest in the corporate governance practices of modern corporations, particularly in relation to accountability, increased following the high-profile collapses of a number of large corporations during 2001–2002, most of which involved accounting fraud; and then again after the recent financial crisis in 2008.
Governance
Governance is all of the processes of governing, whether undertaken by a government, a market or a network, over a social system (family, tribe, formal or informal organization, a territory or across territories) and whether through the laws, norms, power or language of an organized society. It relates to "the processes of interaction and decision-making among the actors involved in a collective problem that lead to the creation, reinforcement, or reproduction of social norms and institutions." In lay terms, it could be described as the political processes that exist in between formal institutions.
Strategy
Strategy (from Greek στρατηγία stratēgia, "art of troop leader; office of general, command, generalship") is a high-level plan to achieve one or more goals under conditions of uncertainty. In the sense of the "art of the general", which included several subsets of skills including "tactics", siegecraft, logistics etc., the term came into use in the 6th century CE in East Roman terminology, and was translated into Western vernacular languages only in the 18th century. From then until the 20th century, the word "strategy" came to denote "a comprehensive way to try to pursue political ends, including the threat or actual use of force, in a dialectic of wills" in a military conflict, in which both adversaries interact.
Strategy
Strategy is a system of expedients; it is more than a mere scholarly discipline. It is the translation of knowledge to practical life, the improvement of the original leading thought in accordance with continually changing situations.
Helmuth von Moltke the Elder, "On Strategy" (1871), as translated in Moltke on the Art of War: Selected Writings (1993) by Daniel J. Hughes and Harry Bell, p. 124As quoted in Government and the War (1918) by Spenser Wilkinson
Strategy
For her own breakfast she'll project a scheme,
Nor take her tea without a stratagem.
Edward Young, Love of Fame (1725-28), Satire VI, line 187
Strategy
To win by strategy is no less the role of a general than to win by arms.
Julius Caesar [Gaius Julius Caesar] (100–44 B.C.), Roman general, statesman. The Civil War, 1.72
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