Role of Corporate Governance in Sustainable Growth & Development

Growth is the word for which every business aspires for on continuous basis throughout its existence (life cycle). Corporate governance is fundamentally about such questions as what business is for—and in whose interests companies should be run, and how. It’s not only the business as an economic unit which want growth but it also extends to the various stakeholders which are in one way or the other connected with the business .Be it the shareholders, employees, customers and above all the society from which business takes its inputs and for which it converts those inputs into outputs for its longer survival. It is the achievement of the sustainable growth and development which keeps the business floating during its various stages of life cycle and which makes the business strong and powerful enough so that it can face the various challenges and exploit the various opportunities provided by the external as well as internal environment and develop itself progressively. Why the business just cannot move on or just survive with just growth or why the sustainable growth is preferred over just growth? An attempt is done to know the different aspects of corporate governance and role of Corporate Governance for sustainable growth and development. Wider issues such as business ethics through entire value chains, human rights, bribery and corruption, and climate change are among the great issues of our time that increasingly cross‐cut the rarefied worlds of corporate boardrooms. As a result, a growing proportion of Sustainability’s work has seen the fusion of corporate governance with such wider societal concerns. This paper reviews the increasingly complex cross‐connects between the rapidly mutating governance agenda and the burgeoning world of corporate responsibility, social entrepreneurship and sustainable development.