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Corporate Governance in the Digital world

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  • Moşneanu Diana

    (National School of Political and Administrative Studies, Bucharest, Romania)

Abstract

Modeling a process of digitized recruitment and selection of the future members of the Board of Directors of Public Enterprises, where several models of software programs secured and adapted to the needs of the Public Administration, such as be DM Software (decision making software), oriented towards Corporate Governance with a view to transparent and decentralize the recruitment and selection process will be developed. At the international level, there is a tendency of intense digitization, affecting the area of recruitment beyond the initial stage, reaching the development of specialized recruitment software through algorithms to determine the best solutions and eliminate the human factor from the process. The best way to select the right software is to set up a digital recruitment process that tests new solutions based technologies in order to implement innovative services.Adding a new selection way, in order to elaborate an optimal composition of the governing bodies, a well-known method of selection is the RACI matrix method, offering diversity elements and strategic requirements, for the members of the Board, introducing the electronic selection and applying the criteria for an algorithm which will obtain the best score. This innovation brought to light, is not only limited to the digitization of the recruitment of the future members of the Boards of Public Enterprises, instead we want to bring profound changes in the application of the framework of corporate governance until the end, introducing a new initial stage in the process. The proposal in this direction provides for a new initial stage in the recruitment process, namely the Waiting List. In the romanian public administration, the recent progress has contributed to the improvement of the legal and regulatory framework against abuse, which is why I proposed to bring to the fore the importance of studying this area, adding value, by studying the possibility of adopting new tools for the public sector in Romania, support mechanisms, simple, uncompromising, completing the digitalization process in public sector. Is this transposition in the digital environment of a service outsourced by the state in order to fight corruption? Is this methodology ultimately effective? In the simplest way, digitization involves transforming any information from analog to digital. Digitalization is inevitable, we are witnessing a change in society, and the world we know today, over the next few years, it will not look the same. In this way, we get to wonder: we embrace digitalization and try to get as many benefits from the process or reject it, leaving us overwhelmed by this tendency.The transition from the classical methods of recruiting and selection process, to the digitalization of the entire processes regarding corporate governance, is bringing the actual transformation of the system, of recruitment of the future members of the Boards of the public enterprises, such a revolution of the public authorities, which are currently in charge of this endeavor, has as a consequence the shaping of the future of public administration, a model that is almost completely different from the one we know today.

Suggested Citation

  • Moşneanu Diana, 2020. "Corporate Governance in the Digital world," Proceedings of the International Conference on Business Excellence, Sciendo, vol. 14(1), pages 333-342, July.
    • Handle: RePEc:vrs:poicbe:v:14:y:2020:i:1:p:333-342:n:32
    DOI: 10.2478/picbe-2020-0032
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    References listed on IDEAS

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