The system of rules, practices, and processes by which a company is directed and controlled, involving balancing the interests of its many stakeholders, such as shareholders, management, customers, suppliers, financiers, government and the community. This category also encompasses areas of business education and business economics, which provide the theoretical and practical knowledge necessary for understanding and implementing effective corporate governance. Business education covers the teaching of the principles and operations of a company, while business economics applies economic theory and quantitative methods to the practice of business, further informing the strategies and structures of corporate governance.