Corporate Social Responsibility (“CSR”) is becoming an increasingly important aspect of boardroom discussion. CSR as defined by the European Commission as:
A ‘conflict of interest’ describes a situation where an individual has a choice between making a decision which is in their own best interests (usually financial) and a decision that is in the best interests of the organisation that they are acting for.
”Corporate governance” refers to the system of rules, practices and processes by which a company is directed and controlled. Corporate governance essentially involves balancing the interests of the many stakeholders in an organisation.