Corporate Governance
Corporate governance refers to the system of rules, practices, and processes by which a company is directed and controlled. It involves balancing the interests of a company's many stakeholders, such as shareholders, management, customers, suppliers, financiers, government, and the community. This framework ensures accountability, fairness, and transparency in a company's relationship with all its stakeholders.
Developers should understand corporate governance when working in regulated industries, large enterprises, or startups seeking investment, as it impacts compliance, risk management, and ethical decision-making. It's crucial for roles involving data privacy, security, or financial systems, where governance frameworks like SOX or GDPR apply, ensuring legal adherence and building stakeholder trust.