Governance designates all regulations intended for organisation and
centralisation of human societies on a global scale. The management
of corporations organises the efforts of individuals in order to
achieve aims and objectives using available resources inventively
and efficiently. Risk management is a practice of steadily choosing
cost-effective tactics for diminishing the consequence of threat
realisation to the corporation which cannot be evaded for the
reason that there are financial and practical limits, which means
the acceptance of some degree of residual risks. Cyberspace
strengthens national and global governance. E-business involves the
total digitisation of value chains and business processes, and
serving traditional organisations creates new value and reach up to
that time unattained heights of operational and financial
excellence. E-technology and e-commerce produce new challenges for
both risk management and corporate governance which could be solved
by effective utilisation of a continuous development of the means
of risk management such as information technology, logistics,
networks and a constantly improved ERM in order to comply with the
new developments. A highly educated personnel controlled by an
effective human resources management is a prime means for
accomplishment of effective risk management and corporate
governance in a 21st century digital economy.
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