Define Corporate Governance. Explain how effective governance mechanisms can contribute to improved organizational performance, stakeholder confidence, and long-term sustainability. 

Corporate Governance is a critical framework of rules, practices, and processes that govern the relationships and interactions among a company's stakeholders, including its board of directors, management, shareholders, customers, suppliers, financiers, government, and the community. It defines the rights, responsibilities, and accountabilities of each party and aims to ensure that a corporation operates with integrity, transparency, fairness, and accountability. Effective corporate governance is essential for the long-term success and sustainability of organizations, as it plays a pivotal role in improving organizational performance, fostering stakeholder confidence, and ensuring long-term sustainability.

One of the primary ways effective corporate governance enhances organizational performance is by promoting accountability and transparency within the company. A well-structured governance framework defines the roles and responsibilities of key individuals and groups within the organization, including the board of directors, management, and shareholders. This clarity ensures that decision-making processes are transparent and that all stakeholders understand their obligations. When there is a clear chain _________ _____ _________ _________ __________ _____ ___ _________ __________.
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