Corporate governance was difficult, now it's even more difficult in the competitive era

In the current competitive business and labor market, many challenges arise for corporate governance. 

The market economy is developing strongly, the number of enterprises established is more and more. Accordingly, the level of fierce competition in the market has increased, making business activities of enterprises difficult. This causes many businesses to lose money, even go bankrupt, and poses many challenges for corporate governance. 

So besides this problem, is there any other difficulty in corporate governance? Navigos Search will clarify this through the information below for readers to understand.

1. What is corporate governance?

Corporate governance is the process of managing and coordinating all activities and personnel in an enterprise according to certain rules and mechanisms to achieve the set goals.

Corporate governance must clearly define the rights and responsibilities of the members of each department and department to build a reasonable and smooth structure from the senior department to the staff.

General understanding of corporate governance 

2. Big challenge in corporate governance today

Human resources management

Human resources is one of the core factors that determine the success or failure of an enterprise. Enterprises face a lot of problems when it comes to human resource management, including: excess and shortage of human resources, salary, bonus and compensation policies that do not match employees' expectations, difficulty in recruiting talents to build. inherited human resources…

Synchronous management

The system is not tight and fragmented, leading to inconsistency in data between departments and branches of the enterprise. At this time, businesses can still collect all important data, but it takes a lot of time and effort. Therefore, the homogeneity from the first stage is the right thing to do.

Managing progress and quality of work

For the management of small and medium enterprises , the process of controlling work progress will be easier. As for large enterprises, this process becomes more difficult because of the large number of employees and too much work assigned to them. Not to mention how to monitor progress and quality of completion,... 

When not strictly controlling the quality of employees' work, it is difficult for business administrators to make appropriate adjustment policies to complete the work well and help the business develop strongly.

Unstable working performance

Unstable working performance, erratic rise and fall will make the operation apparatus of the enterprise unstable in the long run. Failure to meet stable working performance will lead to delay in progress, affecting the reputation of the whole enterprise. This is a big risk for businesses that are in the process of building and developing.

No effective management tools yet

Currently, the trend of technology application is focusing on almost every industry. Corporate governance poses many great challenges for leaders because of the dense workload, large number of personnel, overlapping data and information,...

The problem that many businesses face is that the management tool is outdated and no longer effective, wasting time and effort. For enterprises with large operation scale and strong business development, the use of traditional management methods no longer meets the current management work well. This causes cumbersome, asynchronous, distributed data, ... and many other difficulties.