<Tr> <Td> Corporate governance (show) <Ul> <Li> Annual general meeting </Li> <Li> Board of directors </Li> <Li> Supervisory board </Li> <Li> Advisory board </Li> <Li> Audit committee </Li> </Ul> </Td> </Tr> <Ul> <Li> Annual general meeting </Li> <Li> Board of directors </Li> <Li> Supervisory board </Li> <Li> Advisory board </Li> <Li> Audit committee </Li> </Ul> <Li> Annual general meeting </Li> <Li> Board of directors </Li>

Explain the importance and utility of the replacement model in business organizations