Justify the ICSI principles of Corporate Governance on 'sustainable development of all stakeholders', 'discharge of social responsibility' and 'effective management and distribution of wealth' which seem to be very impor

Corporate Governance is the application of best management practices, compliance of law in true letter and spirit and adherence to ethical standards for effective management and distribution of wealth and discharge of social responsibility for sustainable development of all stakeholders. 'Sustainable development of all stakeholders' ensures growth of all individuals associated with or affected by the enterprise on sustainable basis. 'Discharge of social responsibility' ensures that enterprise is acceptable to the society in which it is functioning. 'Effective management and distribution of wealth' ensures that enterprise creates maximum wealth and judiciously uses the wealth so created for providing maximum benefits to all stakeholders and enhancing its wealth creation capabilities to maintain sustainability.