We've all heard the term 'governance'.What is corporate governance?What role does it play?How are decisions made by governing bodies managed?

In the context of international equity strategic alliances, how important would you consider the governing body's actions in to be in the overall success of the joint initiative?What kinds of decisions would the governing body make and what kinds of decisions, in your view, would be for the managing director or CEO of the joint initiative?

Does the organizational structure matter?Discuss in terms of the cultural 'distance' between head office and the location of the joint venture operations.