72. ”Corporate” is a Good Word

SCRIPT: I’m a pretty patient guy, and I try to lead with empathy and understanding. In a conversation about corporate governance it’s basically never a great idea to shut someone down when you disagree because there’s almost always a kernel of truth or at least a useful lesson to be gained, even in the extreme cases where someone is just flat out factually wrong. So in general I am open to significant variances in opinion, vocabulary, perspective, and philosophy. But I’m not perfect. I mean, everyone has their triggers, right? Right now one of my triggers is the rejection of the word “corporate.” I swear, once a week somebody corrects me when I use the term “corporate governance,” saying “yeah but corporate governance doesn’t apply to us because we’re…fill in the blank.” Some people believe “corporate governance” is only about listed companies, or maybe for-profit corporations more broadly. Some as far as I can tell seem to think that “corporate governance” applies to literally every organization but their own. I even started practicing saying “organizational governance” instead. But you know what? I think I’m right! Corporate governance IS THE BEST TERM! It applies to all corporations – listed, private, not-for-profit, government agencies, and whatever else – and excludes other organizations, like for example a federal government, which has a totally different governance model. We’re all corporations, and when it comes to governance we have way more similarities than differences. Consider this a reprise of Episode 25 that captures my new – and hopefully momentary – frustration. So, even if it’s just a favour to me, try embracing the term “corporate governance.” Please?