IMPROVING CORPORATE GOVERNANCE MECHANISMS IN THE CHEMICAL INDUSTRY

Abstract

This article examines the improvement of corporate governance mechanisms in the chemical industry. In today's dynamic and competitive business environment, chemical companies face a number of complexities and challenges that require effective management mechanisms to ensure successful operations and sustainable development. The article examines the main aspects of improving governance mechanisms in the chemical industry, including the structure of corporate governance, decision-making processes, control and monitoring, as well as issues of corporate culture and ethics. Trends and innovations in the field of corporate governance that can be applied to improve the efficiency and competitiveness of chemical companies are analyzed. Implementing effective corporate governance mechanisms allows companies to improve product quality, reduce production cycle times and improve customer satisfaction. The chemical industry is subject to hazards and risks, and therefore the development of corporate governance mechanisms aimed at ensuring a safe working environment, accident prevention and compliance with regulations is integral to the success of companies. The article highlights the importance of
effective communication and knowledge management within an organization. The chemical industry is characterized by a high degree of innovation and technical knowledge, and therefore the effective distribution of information, exchange of experience and knowledge management contribute to the growth and development of companies. In addition, the article notes that the development of corporate governance mechanisms is a necessary condition for the successful activities of companies in the chemical industry. She suggests that companies should strive to continuously improve their management practices, adapt
to changing market conditions and integrate new technologies and innovations into their management processes. Only such companies will be able to achieve a competitive advantage and satisfy the needs of their customers.