Corporate governance is a familiar phrase today, but its rise was surprisingly slow. Although the underlying ideas were understood as early as 1932, when Berle and Means described the separation of ownership and control, the term “corporate governance” itself did not take hold until the 1980s. For much of the twentieth century, management studies focused primarily on how to run companies, strategy, operations, marketing, and leadership, rather than on how power should be overseen or balanced inside firms. Oversight, fiduciary duty, and board accountability were seen as legal or political matters, not management challenges. Academic and professional priorities therefore concentrated on efficiency and growth rather than control, accountability, or the protection of stakeholder interests. This meant that although the concepts existed, the institutional structures and political will required to turn these ideas into a distinct field were missing until major scandals forced attention.