Strategic corporate governance for sustainable mutual development

Purpose - Corporate governance has been dubbed by many as the guiding facet of modern day corporate entities. However, the success rate of the governance efforts are still unclear. It is high time that corporate governance efforts are integrated to accompany all aspects of the corporate entities and encompass the corporations' most valuable asset, its workers, as a primary benefactor rather than them being mere participants. Hence this paper aims to identify critical areas of inclusiveness and especially the impact of such an integrated effort on mutually developing the work force and the corporate entities. Design/methodology/approach - This paper attempts to identify and highlight mainstream views on corporate governance via library research and complement the research process with available information from appropriate resources to suggest a potential enhancement to the approach taken by the conventional corporate governance efforts. Findings - The paper infers that the potential for the use of corporate governance is beyond its conventional utility and suggests enhancements that could be applied within the existing mainstream corporate governance frameworks to improve the efficiency and role of corporate governance that is anticipated to mutually benefit all stakeholders. Research limitations/implications - The paper highlights a shift in paradigm that could potentially be utilized in the practical application of corporate governance efforts. It is limited by the nascent nature of the corporate governance efforts. Originality/value - Thorough analyses of the existing frameworks of corporate governance were utilized and the inferences are the authors' conjectural views and it is anticipated to help to inspire future research towards strategic corporate governance.