Six Pillars of Good Corporate Governance
Rules of law
• Legislating and issuing regulations that are fair and acceptable to employees and society
• Legally authorizing the power
• Improving the process of drafting, issuing, and implementing the law with the consideration on quality, fairness and quickness
Moral integrity
• Embracing the morality and cultural values
• Encouraging the employees to conduct their duties and be role model for society
• Encouraging the employees to be honest, sincere, disciplined, and diligent.
Transparency
• Building the trust within the organization or nation by encouraging transparent working process in every division; disclosing information to employees, general public, and stakeholders to access the information.
• Providing the opportunities for employees, general public or stakeholders to check the correctness
Participation
• Providing the opportunities for employees, general public or stakeholders to understand the situation
• Providing the opportunities for employees, general public or stakeholders to participate in solving the organization problems by giving opinions or voting.
Responsibility and accountability
• Realizing that one has duties and responsibility for the society and environment
• Concerning oneself with public problems
• Enthusiastically solving the problems
• Respecting the different opinions
• Being responsible to one’s conduct
Effectiveness and efficiency
• Managing the limited resources for the optimal benefits for public and encouraging the employees and public to be economical
• Using the resources efficiently
• Producing high quality goods and providing good service
• Conserving the natural resources
• Adding values