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The lecture from Open Tuition focuses on corporate governance, defined as the system by which companies are directed and controlled. Good corporate governance is vital for reducing organizational risks. Historically, corporate governance was not prioritized until approximately 20 years ago, with the annual general meeting being the main occasion for shareholders to engage with directors. At these meetings, directors presented audited financial statements, which provided some credibility. However, outside of this annual review, directors could potentially act inappropriately, neglecting their responsibility to represent shareholders' interests. The lecture emphasizes the importance of effective governance in ensuring accountability and ethical management within organizations.