Corporate Governance and Values-Based Management
This entry deals with corporate governance and values-based management. These two terms are not synonymous, but both terms have become increasingly prominent in the academic and professional management literatures during recent years.
Corporate governance involves the structures, rules, and regulations that determine the ways that corporate enterprises are managed and directed. Corporate governance laws and regulations focus primarily on the responsibilities and obligations of boards of directors and corporate executives toward shareholders (Shah and Napier 2017).
In contrast, values-based management is based on the argument that human values are at the core of managing organizations (Jaakson 2010) and that it is the responsibility of managers to identify and support shared values within and outside of the organization. Thus, it can be seen that values-based managementtranscends corporate...