way in actually establishing a "social responsibility committee" as a board function, the same as other committees like audit, remuneration and nomination. The level of support becomes high, and the commitment and attention such a committee receives assist it to perform its duties satisfactorily. The membership of a board-level social committee should consist of board members, senior executives and representatives of societal interest groups. The voice of the committee should always have the attention of the board as it becomes an important business of that governing body.
Questions about Qualitative Issues
Clearly, we have seen that the qualitative issues relating to good corporate governance rest with the people who hold high the governance of companies and institutions and make the soundness and effectiveness of these companies their way of governing. It's their attitude to governance that prevails not their personal interests. Therefore, one can ask the following questions, answers to which will highlight the way corporate governance is regarded and, indeed, practiced.
•Do I have any conflict with the interest of the corporate which I serve?
•Do I have all the facts to enable me to make sound decisions regarding the affairs of the company? What did I do to ensure I get the right information and data to help me make the right decision?
•Are the business decisions I am making on behalf of the corporate based on accurate facts?
•Are these decisions in the best interest of the company?
•Are our communications to stakeholders in all matters concerning the company made in a transparent way?
•Will the decisions made result in the company being seen by all stakeholders as a good corporate citizen?
•Will these decisions protect the assets and reputation of the company?
CONCLUSION
From what we have discussed we can state that CG quantitative issues are mostly requirements of law and regulation. Alone they are not enough. The worldwide corporate failures and financial disasters prove beyond doubt that they are not enough. Qualitative issues that deal with the competencies of human capital are the spirit and soul of the corporate entity.
The qualitative issues are the basis for the leadership of corporations. Unless the leadership exercises these qualities, the success of corporations can be compromised.
The board is the leadership of the company and enforces corporate governance good practices. Playing its role in the right way - in a qualitative manner - the board will lead the corporate from one success to another. The opposite is also true.
The chairman of the board is the leader of the board. His qualities enhance the good practices of governance in the corporate. The CEO is the leader of management. Playing his role as an executor and facilitator, between the board and other management, ensures that the decisions and directives of the board are carried out in the way they are meant to be.
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