Corporate Governance and Management of Small Business Enterprise: An Executive Summary

Shea (2006), in quoting the work of Steiner & Steiner (2006) explained that unified arrangement is largely referred to overall control of activities in a corporation that involves the saying of corporate objectives, strategies, and plans and the proper management structure in ordain to be responsible to its various stakeholders. Since the 1990s, the term corporate governance has become a business jargon around the world. The publications on stakeholder theory suggests that business corporations should go beyond the traditionalistic approach to protect shareholder interests and be more antiphonal to demands from both powerful and fringe stakeholders (Preble, 2005).

Sometime in 1998, the Malayan government purported to establish a High Level finance Committee (?the Committee?) to look into establishing a framework for corporate governance and setting best practices for the Malaysian corporate welkin (Singam, 2003). According to the Committee in their Report on somatic Governance 1999 (?the Report?), corporate governance is defined as, ?the branch and structure used to direct and manage the business and personal matters of the company towards enhancing business prosperity and corporate accountability with the supreme objective of realising long term shareholder value, whilst taking into account the interests of other stakeholders? (Singam, 2003).

According to a survey conducted by measuring rod & Poor?s Governance Services and the corporal Governance & Financial Reporting Centre at the National University of capital of Singapore (Shea, 2006), it has demonstrated that listed companies in Malaysia surveyed score an fair of 43 corporate governance points out of a uttermost of 140. The score is quite far below listed companies in Singapore which was 81.

Corporate Governance and Small or Medium-sized BusinessIt has been accepted that as a rule, people choose more security or protection when they possess more things that are considered valuable to them. Observations of homeowners, merchants, and institutions restrain this view: those...

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