Necessary, but Not Sufficient
Education companies already owe the full corporate governance spine. But the law of the boardroom does not reach the four things that actually define an education business.
The spine is the easy part
Between 2002 and 2006, I worked with the Institute of Company Secretaries of India (ICSI), where corporate governance was one of the areas I worked on; our team built the questionnaire and evaluated companies for the ICSI National Award for Excellence in Corporate Governance, while an independent jury chose the winners. The companies that scored well had the apparatus right: independent directors, an audit committee, clean related-party disclosure. That apparatus is settled law now, and any well-run education company can put it in place.
For an education company, an edtech platform, a school or college chain run through a company, a coaching or test-prep business, that apparatus is necessary. It is not sufficient. A company can have a textbook board and still fail the people it exists to serve, because the things that define an education business, the data of children, the truth of its promises, the fairness of its fees, and the tension between investor returns and learning outcomes, sit largely outside what corporate governance was built to police.
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