Thanks to all my readers. It gives boost when I get calls from my readers and am always happy to revert back to my followers and readers. I am sorry if I am unable to reply to all the e-mails due to my busy schedule.
Contact me for any type of assignments help(nominal charges).
Thanks and Regards,
Er. Bhavi Bhatia
e-mail: bhavi.bhatia.411@gmail.com
Phone: +91-9779703714, +91-9814614666
Thanks to all my readers. It gives boost when I get calls from my readers and am always happy to revert back to my followers and readers. I am sorry if I am unable to reply to all the e-mails due to my busy schedule.
Contact me for any type of assignments help(nominal charges).
Thanks and Regards,
Er. Bhavi Bhatia
e-mail: bhavi.bhatia.411@gmail.com
Phone: +91-9779703714, +91-9814614666
This is a pre-publication version of a paper that was accepted for presentation at the British Academy of Management 32nd Annual Conference on the 5th September, 2018.
The latest European Union’s (EU) guiding policies are encouraging big businesses and state-owned organisations to disclose their environmental, social and governance (ESG) performance. Many European member states have transposed the EU’s directive 2014/95/EU on non-financial reporting. This directive has presented a significant step forward toward the as its “comply or explain” approach has encouraged organisations to disclose a true and fair view on their organisations’ financial and ESG capitals. Hence, this paper makes specific reference to some of the corporations’ best practices as it identifies areas for improvement in corporate governance issues. It explains how three major European banks are following the recommendations of their national regulatory institution, as they have reviewed the roles and responsibilities of the corporate boards and management. In many cases, they have anticipated the regulatory, legal, contractual, social and market-driven obligations. This contribution contends that there are significant implications for financial services corporations who intend following the right path toward responsible corporate governance and ethical behaviours.
Business Environment - MBA - MCOM - Class 12AnjaliKaur3
In this PPT I have explained Business Environment topic, it will be useful for MBA, MCOM AND CLASS 12 students. Also teachers can use it as a teaching aid.
Ομιλία: “ESG in Corporate Governance and public enterprises (SOEs)”
Χριστίνα Κολιάτση, Chief Legal Counsel, Ελληνική εταιρεία Συμμετοχών και Περιουσίας ΑΕ (ΕΕΣΥΠ)
Value Addition To Enterpise Through Corporate GovernancePavan Kumar Vijay
This presentation discusses framework of corporate governance, the value of stakeholders in corporate governance value chain. It further enumerates the principles of corporate governance and how these principles of corporate governance can add value to an enterprise.
This Sustainability Reporting Checklist, prepared by Joss Tantram, Terrafiniti is an introduction to sustainability reporting and covers topics such as materiality, reporting standards, stakeholder engagement and communicating to investors.
This is a pre-publication version of a paper that was accepted for presentation at the British Academy of Management 32nd Annual Conference on the 5th September, 2018.
The latest European Union’s (EU) guiding policies are encouraging big businesses and state-owned organisations to disclose their environmental, social and governance (ESG) performance. Many European member states have transposed the EU’s directive 2014/95/EU on non-financial reporting. This directive has presented a significant step forward toward the as its “comply or explain” approach has encouraged organisations to disclose a true and fair view on their organisations’ financial and ESG capitals. Hence, this paper makes specific reference to some of the corporations’ best practices as it identifies areas for improvement in corporate governance issues. It explains how three major European banks are following the recommendations of their national regulatory institution, as they have reviewed the roles and responsibilities of the corporate boards and management. In many cases, they have anticipated the regulatory, legal, contractual, social and market-driven obligations. This contribution contends that there are significant implications for financial services corporations who intend following the right path toward responsible corporate governance and ethical behaviours.
Business Environment - MBA - MCOM - Class 12AnjaliKaur3
In this PPT I have explained Business Environment topic, it will be useful for MBA, MCOM AND CLASS 12 students. Also teachers can use it as a teaching aid.
Ομιλία: “ESG in Corporate Governance and public enterprises (SOEs)”
Χριστίνα Κολιάτση, Chief Legal Counsel, Ελληνική εταιρεία Συμμετοχών και Περιουσίας ΑΕ (ΕΕΣΥΠ)
Value Addition To Enterpise Through Corporate GovernancePavan Kumar Vijay
This presentation discusses framework of corporate governance, the value of stakeholders in corporate governance value chain. It further enumerates the principles of corporate governance and how these principles of corporate governance can add value to an enterprise.
This Sustainability Reporting Checklist, prepared by Joss Tantram, Terrafiniti is an introduction to sustainability reporting and covers topics such as materiality, reporting standards, stakeholder engagement and communicating to investors.
The MaFI-festo is one of MaFI’s initiatives to change the world. The MaFI festo is about promoting collaboration between practitioners, donors and other key stakeholders to boost development effectiveness through facilitation of inclusive markets and private sector engagement.
CH -11 CORPORATE GOVERNANCE AND OTHER STAKEHOLDERSBibek Prajapati
CH -11 CORPORATE GOVERNANCE AND OTHER STAKEHOLDERS
FOR CS PROFESSONAL, CA,CMA, MBA
Stakeholder Concept
• Recognition of Stakeholder Concept In Law
• Stakeholder Engagement
• Stakeholder Analysis
• Types of Stakeholders
• Caux Round Table
• Clarkson Principle of Stakeholder Management
• Governance Paradigm and Stakeholders
• Stakeholders provide resources that are more or less critical to a firm’s long-term success. These resources may be both tangible and intangible. Shareholders, for example, supply capital; suppliers offer material resources or intangible knowledge; employees and managers grant expertise, leadership, and commitment; customers generate revenue and provide infrastructure; and the society builds its positive corporate images.
• A director of a company shall act in good faith in order to promote the objects of the company for the benefit of its members as a whole, and in the best interest of the company, its employees, the community and the environment.
• Stakeholder engagement leads to increased transparency, responsiveness, compliance, organizational learning, quality management, accountability and sustainability. Stakeholder engagement is a central feature of sustainability performance.
• Primary stakeholders are those whose continued association is absolutely necessary for a firm’s survival; these include employees, customers, investors, and shareholders, as well as the governments and communities that provide necessary infrastructure.
• Secondary stakeholders do not typically engage in transactions with a company and thus are not essential for its survival; these include the media, trade associations, and special interest groups.
• Customers are considered as the king to drive the market and they can sometimes exercise influence by consolidating their bargaining power in order to get lower prices.
• The lenders put a check and balance on the governance practices of an organization to ensure safety of their fund and as a societal responsibility.
• The organization which builds a mutually strong relationship with its vendors improves its overall performance in the marketplace.
• The society provides the desired climate for successful operation of a company business. If society turns against the company, then business lose its faith in the eyes of other stakeholders be it government or customer.
Achieving Sustainability and Responsibility through Stakeholder Engagement: T...Flevy.com Best Practices
Original article from the Flevy business blog can be found here:
http://flevy.com/blog/achieving-sustainability-and-responsibility-through-stakeholder-engagement-the-financial-services-case/
The Increasing Role of Compliance
Finance plays a critical role for society at large, serving individuals, families, businesses, governments, and civic institutions. The Financial Services industry performs indispensable functions such as enabling saving and investment, providing protection from risks and supporting the creation of new jobs and enterprises. It is critical that the industry operates to provide these functions for society in a stable, sustainable way.
Experiences of recent years have revealed a range of vulnerabilities of the financial system. Consequences of its functioning have been extremely costly to society and resulted in a significant loss of public trust and confidence in the financial system. An enormous, multi-year effort by policy-makers and financial institutions is underway to make the financial system more resilient and enable it to sustainably contribute to economic growth and prosperity. The regulatory community has strengthened oversight and prudential requirements as part of a global effort to overhaul and improve financial regulation.
Today, the Financial Services industry is subject to multiple and complex legal and regulatory compliance requirements that span international boundaries. Accenture’s Compliance Risk Study indicates that investment in the compliance function will continue to increase. Compliance officers will need to adapt their programs to navigate the disruption that the financial services industry is going trough. In fact the industry is facing disruptive forces in many forms, from changing customer behavior and the rise of digital technologies to a shifting regulatory landscape. New risks are emerging as well, many fueled by increasing challenges of fighting cyber-crime and others from managing more complex operations in today’s world. In order to respond to these challenges among others, the industry is taking a range of steps to change the way it does business. Improvements have also been made to business practices such as training, sales and product approvals, with increased penalties for breaching standards.
Shared Value Creation: Value chain redesign in companies of the sugar sectorjournal ijrtem
ABSTRACT : This article exposes the different arguments in favor of The Shared Value Creation (CVC) within an organization as an inclusive competitive strategy of the social, environmental and economic problems on its different interest groups; It is the redesign of its value chain for a more efficient and effective impact on productivity and business competitiveness.
A theoretical content and a practical perspective are elaborated to model the way to create shared value in an organization throughout a methodology implemented in a company in the sugar sector. The proposed model is made up of five stages: a) Description of the company, b) Strategic diagnosis, c) Executive proposal, d) Change management and f) Strategic decision.
The strategic decision stage includes a six-steps sub model oriented to develop and to redesign a segment of the entire value chain, where implementation begins with the segmentation of critical inputs, awareness suppliers through Value-Sharing, CSR and Sustainability. Subsequent phases consist of an approach to selected suppliers and the strategic breakdown by the company.
Responsible business conduct is an essential part of an open international investment climate. MNE activities often span multiple countries and many cultural, legal, and regulatory environments. This complexity, coupled with the intensely competitive nature of international business, presents MNEs and their stakeholders with unique and specific challenges. Although many MNEs demonstrate a respect for high standards of business conduct, some may neglect the appropriate principles and standards of conduct in an attempt to gain undue competitive advantage. This may be particularly true in environments where regulatory, legal, and institutional frameworks are underdeveloped or fragile. More and more enterprises are responding by committing to responsible business practices, promoting dialogue, and engaging with stakeholders. Addressing societal concerns while advancing enterprise interests can be mutually supportive
Presentation delivered at the Women in Finance Conference, South Africa.
The presentation deals with Integrated Sustainability Reporting, South Africa, 2010.
1. The Role of Government
in Advancing Corporate Sustainability
By
Vinoth sivasubramanian
2. INTRODUCTION
"There is a critical need to enhance corporate governance in
the region, given the situation of the global financial markets.
We need to urgently look at adapting global best-practices to
the region's needs, which will help to stabilize our financial
markets.“
The need for sound corporate governance assumes critical
significance at a time when advanced economies are going
through a financial meltdown. "Bankruptcy and failures in
Western banks and financial institutions are in large part
attributable to corporate mal-governance and distorted
incentive structures,”.
3. The financial turmoil in developed countries gives the region an
opportunity to play a prominent role in the global economy, but only if
they can ensure the widespread adoption of institutions and corporate
governance frameworks that bolster investor trust.
"Good corporate governance is a key ingredient in the region rising to
the challenge and becoming a global player. This is because market
perceptions, including economic fundamentals, determine where global
capital will flow. Capital will flow to where it is best protected by
laws, institutions, respect of and enforcement of contractual obligations
and an absence of corruption,“.
4. SYNOPSIS
ECONOMIC AND BUSINESS CASE FOR SUSTAINABLE
ENTERPRISE.
ROLE OF GOVERNMENTSIN PROMOTING
SUSTAINABLE ENTERPRISE.
“POLICY LEVERS” GOVERNMENTS USE TO
ADVANCE SUSTAINABLE ENTERPRISE.
RECENT POLICY TRENDS IN G8 COUNTRIES.
DISCUSSION AND CONCLUSION.
5. ECONOMIC AND BUSINESS CASE
FOR SUSTAINABLE ENTERPRISE
Sustainability and the
New Economy
Sustainability Benefits
for Companies.
6. ROLES OF GOVERNMENT IN
PROMOTING SUSTAINABLE
ENTERPRISE
Vision/Goal Setter
Leader by Example
Facilitator
Green Fiscal Authority
Innovator/Catalyst
7. SPECIFIC “POLICY LEVERS”
GOVERNMENTS USE TO
ADVANCE SUSTAINABLE ENTERPRISE
Rebalancing the Roles of Government and Public Enterprise.
Direct Regulation.
Economic/Fiscal Measures.
Voluntary/Non Voluntary Initiatives.
Education/Persuasion/Information for Decision Making
8. Sustainable enterprises create economic, social and
environmental value while avoiding or minimizing damage to
economic, social, or natural capital. They operate on principles
of transparency and accountability.
The central focus of the paper and the definition of the topic:
Focuses on the role of governments in promoting corporate
sustainability, while noting the importance of promoting
sustainability in the public sector (given that in most G8
countries the government is itself the biggest ‘business’ in the
country).
9. THE ECONOMIC AND BUSINESS
CASE FOR SUSTAINABLE
ENTERPRISE
SUSTAINABILITY AND THE NEW ECONOMY
Efforts to move beyond the rhetoric of sustainability have
sometimes lacked support because of the perception that a
serious commitment to sustainability will limit a country’s
economic prospects.
Businesses initially saw environmental obligations as an
“added cost,” and were very reluctant to go “beyond
compliance” while often actively campaigning to minimize
environmental regulation.
10. In the new economy, failure to incorporate principles of
sustainability into economic practices will (sooner rather than
later) force enterprise to “hit the wall” either ecologically or
socially.
The achievement of sustainability will mean billions of dollars
in products, services, and technologies that barely exist today.
11. SUSTAINABILITY BENEFITS FOR
COMPANIES
“Corporate Sustainability means internalizing environmental
and social responsibilities into a reinvented core business
strategy in a phased manner that enables the corporation to
deliver lasting benefits to current and future generations of
shareholders, employees and other stakeholders.”
A few examples that point to a growing trend where
companies must “do good” to do well.
It is becoming imperative for companies to build reputations
and track records as socially and environmentally responsible
corporate citizens if they are to ensure access to new resources,
raw materials, skilled employees and markets in which to sell
their products
12. To obtain and maintain a “license to operate” in a host
community, companies must build relationships and trust with their
communities. They must provide lasting value to communities in
exchange for the natural resources they are taking; and assure host
communities that the company will leave them in a better position –
socially, economically and
environmentally – over the long term.
Leading companies (and in particular natural resource based
companies) increasingly embrace sustainability principles and
practices to maintain their global licenses to operate, and to increase
both and “stakeholder value”.
Companies that operate responsibly and in a sustainable manner can
also impact businesses in their
supply chain.
13. Companies committed to sustainability are using supply chain
management to further their interests by, for example, requiring all
their suppliers to certify their environmental management systems
under ISO 14001 or similar schemes.
Other benefits will also accrue to those companies that take
sustainability seriously. In particular, reduced material inputs, reduced
energy use and reduced waste generation can result in enhanced
efficiencies and reduced costs for companies.
Efforts to identify opportunities for improving sustainability
performance can also give rise to technological innovations.
New technologies in turn can open up new business opportunities and
new research opportunities.
14. Exploiting these opportunities generates “top line” benefits to those
businesses, which can provide products, or services that actually help
(re) solve sustainability issues and problems.
Finally, companies can attract highly skilled employees more effectively
by aligning their corporate culture with the sustainability values that are
becoming increasingly attractive to young professionals and other
workers.
15. KEY ROLES OF GOVERNMENT IN
PROMOTING SUSTAINABLE
ENTERPRISE
Vision/goal setter: “steering” and “rowing” society toward
sustainability
- Leader by Example: “Walking the talk” by practicing
sustainability in government operations and purchasing
policies
- Facilitator: Creating appropriate “framework conditions” for
sustainability
- Green Fiscal Authority: Getting the prices right through
“greening budgets” and introducing
“ecological fiscal reform” (EFR)
- Innovator/Catalyst: Promoting innovation within government
and in other sectors
16. SPECIFIC “POLICY LEVERS”
GOVERNMENTS CAN USE TO
ACHEIVE SUSTAINABLE ENTERPRISE
We have identified five categories of policy levers which may
be explored by government in delivering on their role in
promoting sustainable enterprise. There are:
- Rebalancing the Roles of Government and Public Enterprise
- Direct Regulation
- Economic/Fiscal Measures
- Voluntary/Non Voluntary Initiatives (VNRI’s)
- Education/Persuasion/Information for Decision Making
17. New Directions Group Criteria and
Principles for the Effective Use of
VNRI’s
Criteria for the Utilization of VNRI’s to Achieve
Environmental Policy Objectives:
1) VNRI’s should be positioned within a supportive policy and
regulatory framework.
2) Interested and affected parties should agree that a VNRI is
an appropriate, credible and effective method of achieving the
desired environmental protection objective.
3) There should be a reasonable expectation of sufficient
participation in the VNRI over the long term to ensure its
success in meeting its environmental protection objectives.
18. 4) All participants in the design and implementation of the VNRI
must have clearly defined roles and
responsibilities.
5) Mechanisms should exist to provide all those involved in the
development, implementation and monitoring of a VNRI with
the capacity to fulfill their respective roles and responsibilities.
Principles for the Design of Credible and effective VNRI’s:
1)are developed and implemented in a participatory manner that
enables the interested and affected parties to contribute equitable;
2) are transparent in their design and operation;
3) are performance-based with specified goals, measurable
objectives and milestones;
19. 4) clearly specify the rewards for good performance and the
consequences of not meeting performance objectives;
5) encourage flexibility and innovation in meeting specified goals and
objectives;
6) have prescribed monitoring and reporting requirements, including
timetables;
7) include mechanisms for verifying the performance of all participants;
and
8) encourage continual improvement of both participants and the
programs themselves.
20. Regulatory Approaches to Policy
Regulatory Approaches .Typical drawbacks
Main advantages 1. High formality,
1. Visibility,
2. Expensive operation costs,
2. Credibility,
3. Adversarial relations
3. Accountability,
between regulator and
4. Compulsory application to
regulated,
all (including free riders)
4. Limited scope (i.e.
5. Likelihood of rigorous
standards being developed, jurisdictional limitations), &
6. • Cost is borne by the entire 5. Difficulties in development
society, and and amendment
7. • The availability and range
of sanctions.