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Question
What is corporate governance? Discuss parties, principles, systemic problems, mechanisms and the corporate governance mechanism of your organization

Introduction
Like the constitution that governs Ghana, every organization has its own constitution that guides every decision and step taken by the organization. Prosalex Construction Limited like all other companies has corporate governance structure and policies by which the company is governed. Corporate governance is multi faceted and thus varied definitions as pertaining to the varying fields of human endeavour. Corporate governance for example in the army is very different in its entirety to any other business. To this end, Cole (2004) explained it as the manner in which company directors promote and control their company’s operations through exercising their stewardship and this is not just a matter of interest to their shareholders and members but also a matter of public interest too.
The need for sound corporate governance is the most important on many people's agendas, from corporate directors and decision makers to investors looking to shield themselves from the next Enron-type disaster where bad and inept corporate practices led to the collapse of a once buoyant organization. It is a system of structuring, operating and controlling a company with a view to achieve long term strategic goals to satisfy shareholders, creditors, employees, customers and suppliers, and complying with the legal and regulatory requirements, apart from meeting environmental and local community needs.
According to wikipedia, the positive effect of good corporate governance on different stakeholders ultimately is a strengthened economy, and hence good corporate governance is a tool for socio-economic development. After East Asian economies collapsed in the late 20th century, the World Bank's President Paul Wolfowitz warned those countries, that for sustainable development,...