Corporate governance must recognize the interest in ensuring a smooth supply of purchased goods and services at the appropriate prices. The entity must also take into consideration what information should be shared to make the relationship more worthy to both. These restrictions and inducements are significant influences to all. Corporate governance must include the legal compliance issues mandated by regulatory, taxing, and other government authorities. Community Interest is influenced by citizens as consumers of goods and services, but the greater community interest also provides a profound influence on the operations of the entity in the community.
Corporate governance includes ways to take into account the prevailing community mores.
Likewise, the appropriate relationship between Government and those that may peddle influence on behalf of suppliers or trades unions could be explored. How the entity interacts with the community and how the community influences the entity's operations. These are some of the interesting questions that can be explored using a model of corporate governance as a framework. Corporate governance is a set of relationships and stakeholders. The essence of corporate governance is to protect these stakeholder interests in such a way as to achieve some balance that satisfies all interests.