Define Corporate Governance. In the present context what are the major challenges that the corporate sector is facing regarding implementing Corporate Governance.

Corporate governance refers to the system by which companies are directed and controlled, focusing on the relationships between the company's management, its board of directors, shareholders, and other stakeholders. It involves processes, policies, and rules that help ensure the company operates in a fair, transparent, and accountable manner. The primary goal of corporate governance is to enhance long-term shareholder value while considering the interests of other stakeholders, including employees, customers, suppliers, and the community. Effective corporate governance promotes ethical decision-making, minimizes risks, and fosters trust, which ultimately helps build the reputation and sustainability of the company.

In the present context, corporate governance is becoming increasingly important as businesses face greater scrutiny from stakeholders, regulators, and society at large. As the corporate landscape becomes more complex and interconnected, various challenges have emerged regarding the implementation of effective corporate governance practices.

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