DISTINCTION BETWEEN THE CONCEPTS OF CORPORATE GOVERNANCE AND CORPORATE MANAGEMENT

Abstract

The article proves the necessity to distinguish between the concepts of corporate governance and corporate management. Scientists’ different points of view have been studied. There are three main approaches: the first is when the authors consider the concepts of corporate governance and corporate management identical, the second approach implies that the concept of corporate management is broader than the concept of corporate governance, the third involves identification of the main concept of corporate governance, and considering corporate management as it component. General and separate features of the concepts of corporate governance and corporate management are highlighted. It is established that most authors consider corporate management an integral part of corporate governance. The scentists viewpoints on the essence of the concept of corporate management are considered. To define the concept of corporate management, it is proposed to apply the theory of dynamic information systems (TDIS). The use of two-level triadic decryption has led to the selection of basic categories of the 1st level: strategic planning, successful relationships, decision-making. Each of the concepts of the first level, in turn, is revealed by three concepts of the second level of detail. Strategic planning is revealed by presenting it as: the ability to adapt, the ability to develop, responsibility. Successful relationships are formed by elements: the internal environment of the enterprise, the external environment, feedback. Decision making includes: effectiveness, coordination, efficiency. The generalization of three hierarchically structured concepts allowed to form the definition of corporate management as a mechanism for implementing corporate governance at the level of strategic planning. The application of the established definition of corporate management will allow a systematic approach to this concept and help to continue the study of its essence and features of use in the companies’ current activities.