What is Corporate Governance?
Corporate Governance is the system by which businesses, and in particular companies (Private Limited or Public Limited) are directed and controlled. It is the combination of rules, processes, or laws by which a business is operated, regulated, or controlled.
The purpose of this is to help build an environment of trust, transparency, and accountability. This is necessary for fostering long-term investment, financial stability, and business integrity.
What 3rd level courses are available?
Universities and colleges in Ireland are offering courses in Corporate Governance in the following subject areas:
- A Diploma in Corporate Governance – A study of the principles and theoretical perspectives applicable to the concept of Corporate Governance in Ireland.
- Corporate Governance for State and Public Sector Bodies – Gain insights into the principles on which codes are based, provide an overview of the key issues for the different stakeholders and discuss the implications of how governance practices can be assessed.
- Diploma in Corporate Governance & Business Law – Level 3 – Learn the fundamentals of corporate governance and business.
- Diploma in Business Ethics and Corporate Governance – Level 3 – This course will provide the underlying ethical philosophies, theories, and values in individuals and organizational settings.
- Fundamentals of Ethics, Corporate Governance, and Business Law – Equip yourself with ethical, corporate fundamentals of governance and business law.
- Diploma in Ethics and Corporate Governance – Level 3 Certification – A focus on the importance of ethics in operating a business and maintaining its reputation.
Studying Corporate Governance in college
Many courses in Corporate Governance may take place over a few days, weeks, or even 1 year to 4 years depending on the course and modules selected. There are also part-time courses and night courses available so you can be sure to fit in your studies no matter what your schedule is like.
Courses will cover theory work through lectures, assignments, tutorials, and taught modules. Assessments will take place continuously with written examinations and practical assignments combined to achieve a qualification.
You could also consider work experience or a work shadow in the industry. Relevant work experience is a good way of demonstrating a genuine interest in the field and is regarded favorably by employers.
To start building up your experience, you could do a year’s industrial placement as part of your course or look for summer work placements or internships. Doing a placement provides you with practical experience and helps you develop a network of contacts that may be useful for future job opportunities.
Experience in a particular industry, for example, the financial sector, could also be helpful if it relates to the sector you want to specialize in.
Career options
After completing one of these courses you will be able to get started in a career that uses specific knowledge of rules, risks, ethics, profitability, safety, security, or existence of the company.
Positions in the field of Corporate Governance are typically responsible for managing the risk to an organization, its employees, customers, reputation, assets, and interests of stakeholders.
You may need to identify and assess threats to an organization, put plans in place for if things go wrong, and decide how to avoid, reduce or transfer risk. You may work in a variety of sectors and specialize in several areas, including business continuity, commodities, enterprise risk, environmental risk, financial risk, information and security, and regulatory and operational risk.
Working hours will depend on whether you are self-employed, employed by a company with set business hours, or if you are contracted to various businesses or companies. Working hours are typically 9 am to 5 pm, Monday to Friday. You can expect to work additional hours at more senior levels.
Work is primarily office-based but often includes visits to other offices to see clients (if you’re working in consultancy) or to sites (if you’re working in sectors such as construction or energy). At a more senior level, you may spend time away from the office at conferences.
Related jobs include:
- Executive Director
- Chief Executive Officer
- Chief Financial Officer
- Fund Manager
- Risk Manager
- Auditor
- Investment Banker
- Credit Rating Agent
- Actuarial analyst
- Arbitrator
- Adviser (business)
- Analyst (business)
- Business development manager
- Chartered management accountant
- Corporate investment banker
- Data analyst
- Data scientist
- Forensic accountant
- Insurance underwriter
- Management consultant
- Project manager
- Stockbroker
Further study
After completing a course in Corporate Governance, you may choose to pursue further study in a specialist field to increase your knowledge base and skill set. Postgraduate study can also be used as a means to change career focus or to gain professional qualifications required to practice in certain career areas such as Compliance, Risk Management, and even Law.
FAQ
What is the importance of Corporate Governance?
Corporate governance is the cornerstone of any good business. It encompasses the processes, practices, and policies that a company relies on to make formal decisions and to manage the company. … Employing good corporate governance helps the company to regulate risk and reduce the opportunity for corruption.
What are the 4 P’s of corporate governance?
Governance experts break down Corporate Governance into the four P’s – People, Purpose, Process, and Performance.
What skills could be helpful for a career in Corporate Governance?
If you are considering a career in this field you may find that skills such as problem-solving and decision-making abilities, a good eye for detail, resilience, and the ability to cope under pressure are all helpful.
Interpersonal, communication, and presentation skills, analytical skills, negotiation skills, planning, and organization skills will also be valuable. You should have the ability to react quickly and think on your feet and a proactive approach to work, in terms of suggesting changes and improvements to processes and systems.
You may also find that some technical acumen, numerical skills, and the ability to evaluate costs as well as some commercial awareness and the ability to understand broad business issues will be good to have.
Where can I study Corporate Governance?
Explore your options here
Did You Know?
- A common misconception is that online marketing and advertising are not as strictly regulated as offline. Consumer and Competition Laws require you to refrain from misrepresentation and false claims online and offline alike.
- Small business owners chose contractors because they seem to be cheaper and easier to manage than employees. Without a binding agreement, nondisclosure agreements, and loyalty, however, contractors turn out to be more expensive and complex to manage.
- Approximately 543,000 new businesses are started each month.
- Contrary to the popular belief that 50% of start-ups fail within the first year and 95% close shop by the 5-year mark, the truth is: 70% of small businesses remain in operation for at least two years, 50% are still around in five years, 33% in 10 years, and 25% after 15 years.
- Since 1990, large companies have eliminated 4 million jobs—but small businesses have added 8 million new ones.
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