Overall,governance practices need to fit with the nature of the industry in which firms are competing. This cautions against prescribing universal "best" practices.

Question

Quizplus · Accepted Answer

Governance practices should be tailored to fit the specific industry and context in which a firm operates, as there is no one-size-fits-all approach that works for every organization. What may be considered best practices in one industry may not apply in another, and thus a contextualized approach is necessary.

Overall,governance Practices Need to Fit with the Nature of the Industry