Corporate governance refers to the system of rules, practices, processes, and relationships by which an organization is directed and controlled. It encompasses the mechanisms through which companies, and those in control, are held accountable to stakeholders. In strategic management, corporate governance plays a crucial role in ensuring that organizational objectives are aligned with the interests of shareholders and other stakeholders such as employees, customers, suppliers, and society at large. It defines the distribution of rights and responsibilities among different participants in the corporation, such as the board of directors, management, shareholders, and other stakeholders, and lays down the procedures for decision-making. Various models of corporate governance have evolved across countries, reflecting differences in legal systems, cultural values, ownership patterns, and economic structures. One of the most widely discussed models is the Anglo-American model, also known as the shareholder-oriented model. This model is prevalent in countries like the United States and the United Kingdom, where ownership is typically dispersed among a large number of shareholders. The primary objective of this model is to maximize shareholder wealth. The governance structure is characterized by a strong emphasis on the role of the board of directors, transparency, disclosure, and accountability. Independent directors play a key role in monitoring management, and regulatory frameworks ensure that shareholder rights are protected. Another important model is the Continental European model, often referred to as the stakeholder-oriented model. This model is common in countries like Germany, France, and the Netherlands. It recognizes the interests of a broader group of stakeholders, including employees, creditors, and the community, in addition to shareholders. A distinctive feature of this model is the two-tier board system, consisting of a management board and a supervisory board. The supervisory board, which includes employee representatives, oversees the management board and ensures that the interests of all stakeholders are considered in decision-making. This model promotes long-term stability and social responsibility but may sometimes lead to slower decision-making due to the involvement of multiple stakeholders. The Japanese model of corporate governance is another significant approach, characterized by strong interconnections between firms, banks, and other institutions, often referred to as keiretsu. In this model, ownership is concentrated among a group of related companies and financial institutions, leading to stable and long-term relationships. The main bank plays a central role in monitoring and supporting firms, especially during financial distress. Decision-making tends to be consensus-based, and there is a strong emphasis on long-term growth, employee welfare, and