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Corporate governance stands for the system of rules, practices and business processes by which a company is directed and controlled. Corporate governance is aimed at balancing the interests of all stakeholders in a company: shareholders, management, customers, suppliers, financiers, government and the community. Corporate governance system provides the framework for attaining a company's objectives; it encompasses practically every sphere of management. The Corporate Governance has several definitions developed by corporate governance professional over the past decades.

All these definitions commonly share fundamental corporate governance principles:

- Rights and equitable treatment of shareholders
- Interests of other stakeholders
- Role and responsibilities of the board
- Integrity and ethical behaviour
- Disclosure and transparency.

Benefits of good corporate governance are obvious and tangible even in a very short period. Introduction of good corporate governance in a public company will lead to better and more effectively managed business with risks management system, more attractive business and more easy access to financial resources (IPO, Exit, joint ventures, loans, etc.), easier sell process with higher price, raise of company reputation.

Very few owners and managers of privates companies treat corporate governance not as an ‘alien concept’. Avenue Consulting Group takes the responsibility to illustrate the benefits of corporate governance to owners and managers of business and introduce the best international corporate governance models in Armenian business.


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