A comparative analysis of corporate governance in Rangs Group

Abstract

This report is an assessment of the corporate governance (CG) regulations and practices in Rangs Group. CG is a perception of standard approach of ensuring the organization’s transparency, accountability and responsibility to its participants, investors and employees; gain experience from which has achieved positive changes in the minimum developed economies – changes which are aimed at increasing corporate responsibility and performance. The report identifies the concept of corporate governance framework in Rangs Group, comparing with the BSEC CG code, identifying gap in practising CG, its implication on company’s value and performance. Where most of the companies of Bangladesh are owned and managed by family members including Rangs Group and enthusiastically take part in the position of management or CEO; which creates some gap such as independent directors in the practice of CG. Recommendation with action plan to improve the principles of CG in the company by analysing four major risks associated with the company’s operation and also in line with BSEC guideline; is to have an active board of directors and committees, along with contribution and responsibilities of the board members and committees etc., are the part of main discussion. Also, the company needs to strengthen its whistle-blower scheme so that it will protects from the threat of whistleblower. Now, the priority is to practice the principles of CG effectively and the management of RANGS Group believes that they will be able to sustain a standard governance and keep for rest of the years.