In practice this could be explained as the process aimed at accomplishing organization objectives by (1) effectively coordinating the procurement, allocation and utilization of the human, financial, intellectual, and physical resources of the organization and (2) maintaining the organization in a state of satisfactory, dynamic equilibrium within the environment, the is, corporate strategies and operational plans are responsive to the demands and constraints embedded in the economic, political, legal, cultural, political and competitive environment. "Managing corporate affairs: A Directors' handbook" therefore, keeping the knowledge and skill requirements of directors in general, covers all the sky areas of corporate management, namely different topics related to general management, finance, production, marketing, human resources, business knowledge and knowledge management, company law and corporate governance in addition to Industrial/business policy.
