Corporate governance in Poland Essay Example | Topics and Well Written Essays - 1250 words

Corporate governance in Poland - Essay Example lf-regulation in the global business markets has resulted in the establishment and standardisation of corporate governance policies and codes (Maassen, Bosch and Volberda, 2004). This paper will explore the concept of corporate governance in Poland drawing from the privatisation movement of the 1990s, which resulted in massive changes in the corporate structure and organization, thereby prompting the practice of corporate governance in the country. In the business context, the concept of corporate governance refers to the system through which management teams direct and control their organisations in pursuit of the organizational goals and objectives (Rossouw, 2008). Organisations have a set of goals and objectives, which they pursue following premeditated strategies, with the intention of maximizing outcomes; in that respect, governance provides the fundamental framework that organisations follow in setting up objectives and achieving them (Pucko, 2005). In other words, corporate governance is the mechanism through which the management is able to monitor the actions, policies, and decisions of corporations while ensuring that the partisan interests among the different organizational stakeholders are properly aligned for effective operations (Witherell, 2000). Corporate governance has emerged to be a crucial aspect of the corporate world today (Rossouw, 2009), following the global demand for accountability in corporations, whi ch has been prompted by the succession of numerous cases of malpractices in global corporations (Todorovic & Todorovic, 2012). Generally, corporate governance is a very fundamental concept in the corporate management practice especially in today’s highly dynamic and complex global business environment that requires formal organizational structures for operational effectiveness (Sreejesh, 2012). Corporate governance in Poland was introduced in the 1990s following the privatization of numerous State Owned Enterprises through the issuance of