Information, Monitoring and Incentives

Unified governance (organization) within a firm can be explained in terms of the following features: (a)A group of individuals come together to perform certain tasks68,(b)As the organization becomes large and complex there is a necessity to clearly define division of labor and implement coordination of work through delegation of authority within the organization69,(c)Decision making is faciliated by information exchange and monitoring the performance, and(d)Incentive payment schemes are devised from the perspective of certain well defined organizational goals.