Corporate Excellence Through Corporate Governance Nirc Icsi

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This presentation deals with Corporate Governance framework and principles of Corporate Governance. It further enumerates how Corporate Governance leads to corporate excellence.

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Corporate Excellence Through Corporate Governance Nirc Icsi

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

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