Governed corporations are the platforms for shareholders, boards of directors, and management teams to co-create long-term value. Governance should be practiced responsibly, and the ethical relationship among shareholders, boards of directors, and management teams must be authentically defined to enhance the internationalization capabilities and long-term operation perspectives of corporations. The strategic functions of boards of directors for small and medium-sized enterprises involve observing the environmental and internal dynamics of organizations, examining interactions between internal and external driving forces, and innovating frameworks for decision making. The strategic functions of management teams are to formulate balanced and effective agendas for action as well as focused and measurable key indices, adjust and align the goals of management, and develop enterprise capabilities through the design or position of value. Strategic management efficiencies must be improved through integrating strategic thinking and planning.