Today, if an organization has to survive and thrive in a commercial environment that is increasingly global and competitive in its outlook, it has to concentrate on the interests and concerns of every stakeholder in the business even in the most challenging times. And, that includes not just the shareholder, but also the domestic and global customer, the lawmaker, the community in which the enterprise operates, and environmental groups. This calls for laying a strong corporate governance framework within the organization to ensure that the company runs a "no compromise" business thereby leading to creation of shareholder wealth in an earnest way.

This whitepaper takes a look at the importance of corporate governance in today's context, some best practices that companies can adopt in this area for effective corporate governance and, more specifically, lays out 5 important steps to effective corporate governance.