Define the Three Internal Corporate Governance Mechanisms and How They

question 114

Essay

Define the three internal corporate governance mechanisms and how they may be used to control and monitor managerial decisions.

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Definitions:

Geocentric

Pertains to considering the earth as the center, often related to business strategies that adopt a global approach irrespective of national boundaries.

Ethnorelative

pertains to an understanding and appreciation of cultural differences, promoting a positive and inclusive attitude towards diverse cultural backgrounds.

Polycentric

A term in international business denoting a strategy where a company adapts its products and services to each local market it operates in, respecting local customs and culture.

Personal Counseling

A professional service offering confidential support and advice to individuals dealing with personal issues or challenges.