What does the term 'corporate governance' primarily emphasize?

The term 'corporate governance' primarily emphasizes the policies and procedures within an organization. This concept encompasses the systems, practices, and processes by which companies are directed and controlled. Effective corporate governance ensures that an organization operates in a transparent and accountable manner, aligning the interests of various stakeholders, including shareholders, management, customers, and the community. It is focused on establishing clear roles and responsibilities, risk management, and ethical conduct, all of which are essential to maintaining integrity and trust in the organization's operations.

In contrast, other concepts provided relate to specific aspects of business that do not encapsulate the broader strategic framework that corporate governance entails. For example, sales targets and promotions are primarily centered on marketing and sales strategy rather than overall governance. Market competition analysis deals with evaluating competitors and positioning in the market space instead of internal policy establishment. Lastly, operational handling of supply chains focuses on the logistics and processes of getting products from suppliers to customers, without addressing the structural and leadership aspects that corporate governance encompasses.