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Under the present socio-economic panorama of the world corporate governance should be considered as most significant part of the Business World. Similarly business strategy should also be most effectively adopted by the business world.
If both this two aspect are being accepted and applied as a challenging phenomenon, the global scenario of the competition can be challenged by the business concern.
But the business unit of the each and every country is being controlled and generated by their respective rules and regulations framed by different countries. The objective of such rules and regulations must be in accordance with the global competitive scenario of the world.
There should be elasticity in approach, elasticity in acceptance and elasticity in its action. Under these circumstances the fruitfulness of corporate governance and business strategy can be understood in wide perspective.
Concluded.
* Contributed by: -
Dr. R. P. Verma,
Ex. H.O.D. & Dean, Commerce and Business Management Dept.,
Arabinda Bhandari,
Strategic Management Researcher,
Ranchi University, Ranchi.
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