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So, it has been found by the discussion that strategic management helps in corporate governance by maximize the financial expectation of share-holders.

Corporate governance clearly matters to shareholders, customers, employees and parties that interact with the company.
Moreover there is little doubt that Government mechanism are a necessary and vital point of economic growth and the following functioning of a liquid capital market.

The separation of ownership and control that characterizes the structures of the corporation means that managers can potentially make self-servicing decisions on strategy of the expense of stakeholders. It is therefore important to put in place a set of mechanism to constrain such managerial decisions in a way that maximise the net benefit of stakeholders as well as giving general protection to stakeholders, an appropriate governance structure should lead to better performance. But before imposing some governance structures on a company, it seems necessary to verify significantly that the changes are likely to produce the expected outcome. On the other hand, top manager need to recognize that they are not in sole charge to make a strategy. Strategy is an equilibrium game among corporate governance players. Managers need to work on building coalitions aligning interest behind a common approach.

To sum up the corporate governance and strategic management are the two sides of a coin, neither of the two can be consider effectively without the consideration of both. Naturally the present global concept of the business needs specific approach to being both of these words on equal sequence. The different groups of business organization have strongly pleaded that these words are most vital for the longevity and their success in the corporate world.

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* Contributed by: -
Dr. R. P. Verma,
Ex. H.O.D. & Dean, Commerce and Business Management Dept.,
Arabinda Bhandari,
Strategic Management Researcher,
Ranchi University, Ranchi.