Explanation:

• The corporate governance is a collection of processes and relations by which the organization is regulated and controlled.  

• The corporate governance structure includes the distribution of rights and responsibilities among different participants as the board of directors, the managers, shareholders, and creditors, and auditors, regulators, and the stakeholders.

• Its s necessary due to the conflicts and interest between the stakeholders and upper management.  

• Corporate governance focuses on the internal and external structure thereby mitigating agency risks, competition, government regulations, media pressure, takeovers, etc. Thus it  reflects the individual companies.