Family Business Governance

CHAPTER 8

The Future of Governance

The future of corporate governance is an increasing level of transparency. Since the dot-com bust of the 1980s and 1990s, the financial scandals of WorldCom, Tyco, and Enron and the advent of the Sarbox financial accountability legislation, there has been an increased emphasis on more transparency. Transparency regarding finances and accounting has been the focus, but also, an increased emphasis on being as transparent as can be on many other issues affecting the organization. For example, because of human rights issues abroad, many companies have reported steps they have taken to make sure their suppliers are treating employees safely without abuse. The advent of numerous social media platforms has created ...