Governance and social responsibility
In this lesson, you'll learn the core principles of corporate governance and social responsibility—essential topics for your Business and Technology exam.
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In this lesson
- 0:00 Corporate Governance Defined
- 2:06 Understanding Agency Relationships
- 3:30 Corporate Governance Regulations Explained
- 6:16 Board Roles and Committee Structure
- 8:10 Why Audit and Remuneration Need Independence
- 10:09 Non-Executive Directors: Key Functions
- 12:01 Exam Question: NED Advantages
- 13:23 Corporate Social Responsibility Overview
- 14:04 Analysing Stakeholder Needs Framework
- 15:29 Four Approaches to Social Responsibility
- 17:25 Oil Company Stakeholder Responsibilities
- 19:36 Social Responsibilities by Stakeholder Group
- 21:09 Environmental Responsibilities by Stakeholder Group
- 23:04 Exam Question: Social Responsibility Definition
About this lesson
James Wright breaks down seven key areas: defining corporate governance, understanding agency relationships between shareholders and directors, navigating governance regulations, exploring board roles and committees, examining corporate social responsibility, analysing stakeholder needs, and addressing social and environmental responsibilities. You'll discover why good governance matters, how non-executive directors protect shareholder interests, and what makes audit and remuneration committees require complete independence. The lesson explains the agency problem—why directors must act in shareholders' interests rather than their own—and explores different approaches to CSR, from defensive to proactive strategies. Through practical examples like an oil company's obligations to multiple stakeholders, you'll see how organisations balance competing interests and build sustainable operations. By the end, you'll understand how to identify key stakeholder groups using tools like Mendelow's Matrix, determine a company's ethical stance, and explain specific social and environmental responsibilities to employees, shareholders, customers, suppliers, government, and the public. The lesson includes worked exam-style questions to help you recognise what counts as genuine social responsibility versus legal compliance, preparing you confidently for assessment.
Duration: 25m
Transcript
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