Rethinking corporate governance - Essay ExampleJeswald (2002) defines corporate governance as the relationship existing amongst the management, Board of Directors, shareholders, and other stakeholders that revolves around exercising authority, direction, as well as control in an economy or organization. From the perception of Clark, WÃ³jcik and Bauer (2005), it is true that there is need for economies and organizations to rethink on how to direct, control, and exercise authority in a bid to enhancing sanity within their environs. According to Veasey (2005), every stakeholder has a right to ensure corporate governance compliance within nations or organizations. Indeed, with current happenings in the business environment there is a need to rethink corporate governance.Whilst focusing on rethinking corporate governance various questions of concern arise. First, what as been the impact of ineffective corporate governance on economies and business organizations within the contemporary business environment?