How to Implement Good Corporate Governance Practices?
While good corporate governance practices are beneficial for a variety of reasons, they are difficult to instill in businesses. The process of fashioning good corporate governance architecture is a long and painstaking process changing the business culture of countries that are beset by corruption and self-dealing managers, bureaucracy and politicians is unlikely to happen overnight and is likely to be met with considerable resistance from politically-connected individuals and groups. While difficult, reforming a countrys corporate governance system is not an impossible task scholars believe that countries should begin in two places. First, governments should reform themselves from within by creating strict standards governing behavior for all officials in their various dealings. Second, enforcement mechanisms should be strengthened across the board. Thus, investigative agencies should be given more power and justice should be made inexpensively and speedily obtainable. It is believed
