simpler format of business the ownership and management of business

Early forms of business were very simple- starting with individual ownership to groups or firms. However with requirement of more capital and more complicated nature of business the form of business started moving more towards a corporate structure. More and more businesses started getting setup in a company format.While with the simpler format of business the ownership and management of business was not very different. In case of companies there is a clear difference between owners (Shareholders) and managers (Board and Executives) the corporation therefore brought about more complication on how the activities were managed with view of maximization of shareholder value. It became all the more important to ensure that the corporations were managed and run in a manner that was not detrimental to any of the stakeholders.


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