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commercial reasons
for promoting and protecting 
an organisation's reputation. A key commercial reason relates to the company value, as reflected in the 
share price. Share price is often closely linked to reputation. 
1.4.7 Judgement 
Judgement means the board 
making decisions that enhance the prosperity 
of the organisation. This 
means that board members must acquire a broad enough knowledge of the 
business and its 
environment
to be able to provide meaningful direction to it. This has implications not only for the 
attention directors have to give to the organisation's affairs but also to the way the directors are recruited 
and trained. 
The complexities of senior management mean that the directors have to bring 
multiple conceptual skills 
to management that aim to maximise long-term returns. This means that corporate governance can 
involve balancing many competing people and resource claims against each other. Although risk 
management is an integral part of corporate governance, corporate governance isn't just about risk 
management. 
1.4.8 Integrity
Integrity can be taken as meaning someone of 
high moral character
, who sticks to principles no matter 
the pressure to do otherwise. In working life this means adhering to principles of professionalism and 
probity. 
Straightforward dealing in relationships 
with the different people and constituencies whom you 
meet is particularly important. Trust is vital in relationships and belief in the integrity of those with 
whom you are dealing underpins this. 
Integrity is an essential principle of the 
corporate governance relationship
, particularly in relationship to 
representing shareholder interests and exercising agency. Monitoring and hence agency costs can be 
reduced if there is trust in the integrity of the agents. In addition, we have seen that a key aim of 
corporate governance is to inspire confidence in participants in the market and this significantly depends 
upon a