Business ethics & corporate governance

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Business ethics & corporate governance

  1. 1. Business Ethics & Corporate Governance RAJIB BARUA PGDM 2011-13’
  2. 2. BUSINESS ETHICS & CORPORATEGOVERNANCE
  3. 3. What is BUSINESS ETHICS & CORPORATEGOVERNANCE ?• VISION , MISSION & OBJECTIVES• CODE OF CONDUCT• CSR ( CORPORATE SOCIAL RESPONSIBILITY) VISSION MISSION OBJECTIVE
  4. 4. ITC Limited …• Vision - Sustain ITCs position as one of Indias most valuable corporations through world class performance, creating growing value for the Indian economy and the Company’s stakeholders.• Mission - To enhance the wealth generating capability of the enterprise in a globalizing environment, delivering superior and sustainable stakeholder value.
  5. 5. CODE OF CONDUCT …Applicable to all directors, senior management and employees of the Company.Preamble - Code is derived from three interlinked fundamental principles, viz. good corporate governance, good corporate citizenship and exemplary personal conduct.Philosophy - ITC is a professionally managed organization and the core value underlying our corporate philosophy is "trusteeship“. We recognize society as an important stakeholder in this enterprise and therefore it is part of our responsibility to practice good corporate citizenship.Corporate Governance Policy - It clearly delineates the roles, responsibilities and authorities of the key entities in the governance structure of the Company.
  6. 6. Good Corporate Citizenship … Dealing with People in the Organization A Gender Environment Friendly Policies Workplace Relationships Health and with Suppliers Safety and Customers Legal Compliance
  7. 7. CSR (Corporate Social Responsibility)The only company in the worldto be carbon positive,water positive &solid waste recycling positive
  8. 8. An Exemplary Contribution to the Triple Bottom LinePROFIT• A growing portfolio of businesses encompassing FMCG, Paperboards & Packaging, Agri & Foods Business, Hotels and Information Technology.• A turnover of over US $ 7 billion and a market capitalization of nearly US $ 35 billion.• Total Shareholder Returns, measured in terms of increase in market capitalization and dividends, grew at a compound rate of 26% per annum over the last 15 years.• The new FMCG businesses support the competitiveness, technology upgradation and market reach of over 150 Small and Medium Enterprises ( SMEs ).• ITC Group provides direct employment to more than 29,000 people.
  9. 9. An Exemplary Contribution to the Triple Bottom LinePEOPLE• ITC’s businesses generate livelihoods for over 5 million people.• ITC’s globally recognised e-Choupal initiative is the world’s largest rural digital infrastructure benefiting over 4 million farmers.• ITC’s Social and Farm Forestry initiative has greened over 1,25,000 hectares, creating over 56 million person-days of employment among the disadvantaged.• ITC’s Watershed Development initiative brings precious water to over 90,000 hectares of drylands and moisture-stressed areas.• ITC’s Sustainable Community Development initiatives include women’s empowerment, supplementary education, integrated animal husbandry programmes.
  10. 10. An Exemplary Contribution to the Triple Bottom LinePLANET• ITC has been ‘Carbon Positive’ seven years in a row ( sequestering /storing twice the amount of CO2 that the Company emits).• ‘Water Positive’ for ten consecutive years ( creating over two times more Rainwater Harvesting potential than ITC’s net consumption).• ‘Solid Waste Recycling Positive’ for the last five years.• All Environment, Health and Safety Management Systems in ITC conform to international standards.
  11. 11. ITC’s e-Choupal – world’s largest rural digitalinfrastructure ITC’s globally awarded e-Choupal initiative is a powerful illustration of a unique business model that delivers large societal value by co-creating rural markets with local communities. The e-Choupal digital infrastructure enables even small and marginalised farmers in rural India, who are de-linked from the formal market, to access relevant knowledge, market prices, weather information and quality inputs to enhance farm productivity, quality and command better prices – making them more competitive in the national and global markets.
  12. 12. ITC’s Afforestation Programme Greening over 1,25,000 hectares & providing over 56 million person-days of employment ITC’s Watershed Development Programme Irrigating over 90,000 hectares of dryland
  13. 13. ITC’s Livestock Development Initiative Animal husbandry services to nearly 5,00,000 cattle ITC’s Women’s Empowerment Initiative Economically empowering nearly 40,000 women
  14. 14. ITC’s Primary Education Initiative Educating nearly 3,00,000 rural children ITC’s Wealth out of Waste (WoW) Initiative Creating a Positive Environmental Footprint through Waste Recycling
  15. 15. Select National & Global Recognitionfor ITC’s Sustainability Initiatives
  16. 16. GSK India…• The GSK Vision – We want to become the indisputable leader in our industry - not simply in terms of size, but in how we use that size to achieve our mission and improve the quality of human life.• The GSK Mission – Our global quest is to improve the quality of human life by enabling people to do more, feel better and live longer.
  17. 17. Code of Conduct (Corporate Governance)Broadly, the Companys corporate governance philosophy is based on the following principles: -• Management should act as the trustee of the shareholders capital and not as the owner.• Satisfy the letter and spirit of the law and ensure 100% compliance with all the applicable laws of the land. The Company believes that the corporate governance standards should go beyond the law.• Maintain high degree of disclosure levels to ensure transparency in functioning.• Communicate externally about the companys internal functioning, in a truthful manner.
  18. 18. Corporate Social ResponsibilityRural projects –1. Tribal welfare projects in Peth Taluka, Nashik, Maharashtra.2. Yuva Parivartan - GSK Livelihood Training Centers: Peth Taluka, Nashik, Maharashtra3. Shelter home for children - Behraich, Uttar Pradesh4. Healthcare project, Institute for Indian Mother and Child, Kolkata5. Community College Program: Haryana6. Residential shelter home for boys in Jodhpur, Rajasthan7. Project for early detection of Cancer with Bhakti Vedanta Hospital: Mira Road, MumbaiEtc….
  19. 19. Urban projects• Primary Healthcare Centre in garbage dumping ground - Deonar, Mumbai• Rehabilitation of Paraplegic patients: Mumbai• Rehabilitation of cancer patients: Mumbai• Palliative care for critically ill cancer patients: Bangalore• Mid-day Meal project: Mumbai• Mentally challenged children: Delhi
  20. 20. Feedback & Suggestions…

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