Corporate excellence through corporate governance lecture at icai

455 views

Published on

Published in: Business, Economy & Finance
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
455
On SlideShare
0
From Embeds
0
Number of Embeds
2
Actions
Shares
0
Downloads
20
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Corporate excellence through corporate governance lecture at icai

  1. 1. Corporate Excellence throughCorporate Governance Pavan Kumar Vijay Immediate Past President, ICSI MD, Corporate Professionals
  2. 2. Corporate Governance rests with the Vision and Perception of the Leadership
  3. 3. and A Leader need to adopt aVision for Corporate Governance
  4. 4. Corporate Governance”Corporate Governance is the application of bestmanagement practices, compliance of law in letterand spirit and adherence to ethical standardsfor effective management and distribution of wealthand discharge of social responsibility for sustainabledevelopment of all stakeholders” The Institute of Company Secretaries of India
  5. 5. Corporate Governance Framework Wealth Creation Wealth Management Wealth Sharing ? Distribu- tion Happiness and Output – Input Prosperity of all = Wealth Created Stakeholders SUPPLIERS Adequate Returns ReinvestmentEnhancedCapabilities HUMAN ASSETS Adequate Remuneration Sustainability CUSTOMERS Affordable Prices Research and Development PUBLIC HR Development Payment of Taxes and Infrastructure Partnership in National Risk Management Development Projects Best Management Practices are Vital Here Law and Ethics are Vital Here
  6. 6. Stakeholders in Value Chain ROLE OF STAKEHOLDERS Supply Value Addition and Give Opportunity to Co. Funds, Materials and Management of to Satisfy their Needs Services Resources SUPPLIERS HUMAN CUSTOMERS RESOURCE Adequate Returns for Adequate Salary and Best Quality Products Funds, Material and Security for leading a and Customer Care at Services Supplied Happy Life Minimum Prices EXPECTATIONS OF STAKEHOLDERSPotential Suppliers, Human Biological, Economic andResources and Customers PUBLIC Cultural Environment PUBLIC EXPECTS PARTNERHIP FOR SUSTAINABLE DEVELOPMENT
  7. 7. Principles of Corporate Excellence Fairness to all stakeholders Mutual Trust, Transparency and Togetherness Unrestricted Communication and Continuous Feedback Sharing Knowledge, Success Stories and Experience Sharing Happiness and Concerns Helping Each Other – Round the Clock
  8. 8. Infact, these principles are the foundation of Best Governed Organisations irrespective of their form and size
  9. 9. Advantages of applyingBest Corporate Governance Practices
  10. 10. Growing GrowingRevenues Profits Growth Growing Market Value
  11. 11. Widening Ready Market forCustomer Base New ProductsWidespread Goodwill and Brand ReputationAccess to Global Better Access to Markets Human Capital
  12. 12. CUSTOMERS INVESTORS EMPLOYEES Enhanced Trust and Confidence of all Stakeholders GOVERNMENT AND REGULATORS SOCIETYSUPPLIERS
  13. 13. Leading to…
  14. 14. Environment SUSTAINABLE DEVELOPMENT Business SocietyCivil Society
  15. 15. Commitment to well-being and progress of all stakeholders is our age old mantra
  16. 16. Satyam Vada Dharmam Chara - Taittariya Upanishad
  17. 17. “Forever speak the truth and follow the dharma”
  18. 18. Truth : Disclosure of Actual State of Affairs(Transparency in operations and transactions)
  19. 19. Dharma : “Dharma is for the stability ofsociety, the maintenance of social order and thegeneral well-being and progress of humankind.” - Karna Parva of the Mahabharata. Verse-58 in Chapter 69
  20. 20. Governance Concept in ‘Ramayana’ To provide “the maximum happiness for the maximum number of people for the maximum period, based on the principles of Dharma – righteousness and moral values.” - Ayodhya Kand
  21. 21. “The Customer is King” - Mahatma Gandhi
  22. 22. This is the soul behind modernMarketing Management
  23. 23. Worshipping 33 Crore Godheads signifying various species, plants, cosmic elements, …
  24. 24. Care for Panchtatvas -Prithvi, Jal, Vaayu, Akaash and Agni that make a human being
  25. 25. This is our approach toEnvironment Protection
  26. 26. The four essential principles of Mahatma Gandhis philosophyTruth, Ahimsa, Trusteeship and Constructive Action
  27. 27. Corporates are also expected to use their Capacity, Knowledge and Resources TOWARDS DharmaMaximisation of stakeholders‟ value and well- being and progress of humankind THROUGH Truth Transparency, accountability and truthful disclosure of state of affairs
  28. 28. This is our own age old mantra of Good Governance
  29. 29. Companies that have followed these principles of Corporate Governance have
  30. 30. Consistently earned high returns, increased their net worth andenhanced their shareholders wealth
  31. 31. Invested significantly in proactive research and development
  32. 32. Developed people into „achievers‟ than just „performers‟
  33. 33. Dealt ethically with customers, government and business partners
  34. 34. Maintained and updated their professionalmanagement culture, system and processes
  35. 35. ..and accomplished
  36. 36. WINNING GROWINGEMPLOYEES INVESTORS HAPPYDELIGHTED SOCIETYCUSTOMERS SATISFIED TRUSTED GOVERNMENT ANDSUPPLIERS REGULATORS
  37. 37. Corporate Excellenceand ProfessionalAccountabilityFor Better Leadership Leaders need to strive for excellence in Corporate Governance because
  38. 38. Excellence in Corporate NationalGovernance leads to ExcellenceNational Excellence Social Excellence Corporate Excellence Excellence in Corporate Governance
  39. 39. Professionals are acting as Catalyst in applying best practices inCorporate Governance
  40. 40. Professionals are adequately developed to take this challenging job
  41. 41. We all Professionals must also bind ourselves by a Code of Conduct
  42. 42. Integrity Independence Thus ensuring highest level ofExcellenceInnovation
  43. 43. Opportunities to serve the Nation are unlimited
  44. 44. All you need to do is:• Understand Industry Needs• Gain „Substantial Knowledge of Management‟ – Learning little more than what is included in the course curriculum• Provide PQRS – Productivity, Quality, Reliability and Service• Use 3Cs - Creativity, Confidence and Communication• Conduct Periodical SWOT Analysis of Self• Use Technology to Beat Technology
  45. 45. CAPITAL MARKET ANDTOURISM AND HOTEL FINANCIAL SERVICES ITS INTERMEDIARIES TEXTILES BANKING AND NBFCS IT ENABLED Gain DRUGS, PHARMA SERVICES AND BPO Knowledge of AND HEALTHCARE IT SOLUTIONS Industry CAPITAL GOODS INFRASTRUCTURE, AGRICULTURE ANDPOWER AND TELECOM FOOD PROCESSING MEDIA AND HOUSING AND FMCG ENTERTAINMENT CONSTRUCTION
  46. 46. SECRETARIAL STRATEGY AND LEGAL FINANCIAL AND ACCOUNTS Gain HUMAN Knowledge of RESOURCES CORPORATE ManagementCOMMUNICATION Functions R&D AND PRODUCTION INFORMATION MARKETING TECHNOLOGY
  47. 47. Providing PQRS• Productivity – Nation expects you to use resources in most profitable manner• Quality – There is no compromise on quality• Reliability – Companies require trust in abilities and loyalty to company all the time• Service – Value Added Services with courtesy and smile is absolute necessity
  48. 48. Using 3Cs• Creativity – Innovation is the critical success factor• Confidence – Believe in Yourself (Yes, You Can Do It)• Communication – It is how you make people know about your creativity and confidence. It is Communication that creates opportunities.
  49. 49. Periodical SWOT Analysis• Strengths: What are my strengths?• Weaknesses: What are my weaknesses?• Opportunities: What are new opportunities?• Threats: What are new threats? So that you can CHANGE with the TIME
  50. 50. Use Technology to BeatTechnology• Internet and E-commerce• Enterprise Resource Planning (ERP)• ERP and CRM Tools for Practicing Consultants• Data Warehousing and Data Mining• Computer Based Complex Business Analysis ModelsThere are many more...
  51. 51. Co-operate instead of Competing
  52. 52. Optimism Comes from Co-operation
  53. 53. It‟s a matter of Perception and Positive Thinking

×