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Corporate governance is not only a group of rules to be implemented by an SME, but it is a culture to be sourced out of the company. It represents a methodology to discipline the relationship between owners, board members, employees and other stakeholders of a company.
There are some governance directions/guidelines issued for SMEs by research institutions and professional bodies. However, sufficient guidance has not been offered in the form of a unified model that can easily be installed/ positioned by SMEs to reduce challenges and achieve success.
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