Which of the following is a key purpose of corporate governance?

The key purpose of corporate governance is to control how an organization is directed and managed. This involves establishing a framework of rules, practices, and processes that guide the organization towards achieving its objectives while ensuring accountability and transparency. Effective corporate governance ensures that the interests of various stakeholders, including shareholders, employees, customers, and the community, are safeguarded. It provides a structure for setting company objectives and monitoring performance to ensure that the organization is being run in a responsible and ethical manner.

While enhancing brand visibility, improving employee satisfaction, and maximizing supplier contracts might be important aspects of running a business, they are not the primary focus of corporate governance. The overarching concern of governance is to ensure that the organization's management acts in the best interests of the stakeholders and maintains integrity in its operations. Thus, option B accurately captures the essence of corporate governance.