The document discusses emerging challenges for independent directors in meeting corporate social responsibility. It outlines four key factors impacted by corporate governance: strategy, people, performance, and risk. Independent directors play an important oversight role by providing informed and committed guidance. Their responsibilities include maximizing value for stakeholders, overseeing management and financial performance, and ensuring corporate social responsibility practices are followed. The document also examines the business case for CSR and potential consequences of neglecting it.
Introduction to Corporate Governance Sep 17 2011Demir Yener
Introductory remarks on good corporate governance practices and implications on board performance and rights and responsibilities for Mongolian directors.
Corporate Governance Definition and PracticeBolaji Okusaga
The recent failures of erstwhile strong institutions has thrown up the importance of Corporate Governance in the running of businesses and the drive for investments. This presentation attempts a basic definition the term and also x-rays practices and processes for sound corporate governance.
Introduction to Corporate Governance Sep 17 2011Demir Yener
Introductory remarks on good corporate governance practices and implications on board performance and rights and responsibilities for Mongolian directors.
Corporate Governance Definition and PracticeBolaji Okusaga
The recent failures of erstwhile strong institutions has thrown up the importance of Corporate Governance in the running of businesses and the drive for investments. This presentation attempts a basic definition the term and also x-rays practices and processes for sound corporate governance.
A brief notes on ethical and corporate governance in Malaysia. There are theories on ethics, code of ethics by CIMA, the concept, purposes and aims of corporate governance together with a short discussion on different criminal activities that related with company.
'CSR' and 'Corporate Governance' are 2 sides of a coin, 'Sustainability' being the EDGE of that coin! Notes from my session on Corporate Governance for PG Diploma in CSR course.
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.
Corporate Governance for South African Mining Companies (a practitioners view)James AH Campbell
Corporate Governance for South African Mining Companies (a practitioners view)
Compliance & Reporting in the Minerals Industry
19th October 2021
University of the Witwatersrand
James Campbell
The ICSA Isle of Man Corporate Governance Conference 2014, took place on 15 July, looks at how organisation can uphold ethical value within a competitive offshore environment.
Important IPCC chapters by CA classes in Mumbai.seomiamia
This is one of the most important chapters for the students appearing for IPCC exam.Mia Mia is one of the best listing website for IPCC Classes in Mumbai. We are also known for our systematic listing of various IPCC, CA Final and CPT CLasses in Mumbai. QLI is a class where each student is our priority. We are one of the best listing website for CA Classes in Mumbai.
A brief notes on ethical and corporate governance in Malaysia. There are theories on ethics, code of ethics by CIMA, the concept, purposes and aims of corporate governance together with a short discussion on different criminal activities that related with company.
'CSR' and 'Corporate Governance' are 2 sides of a coin, 'Sustainability' being the EDGE of that coin! Notes from my session on Corporate Governance for PG Diploma in CSR course.
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.
Corporate Governance for South African Mining Companies (a practitioners view)James AH Campbell
Corporate Governance for South African Mining Companies (a practitioners view)
Compliance & Reporting in the Minerals Industry
19th October 2021
University of the Witwatersrand
James Campbell
The ICSA Isle of Man Corporate Governance Conference 2014, took place on 15 July, looks at how organisation can uphold ethical value within a competitive offshore environment.
Important IPCC chapters by CA classes in Mumbai.seomiamia
This is one of the most important chapters for the students appearing for IPCC exam.Mia Mia is one of the best listing website for IPCC Classes in Mumbai. We are also known for our systematic listing of various IPCC, CA Final and CPT CLasses in Mumbai. QLI is a class where each student is our priority. We are one of the best listing website for CA Classes in Mumbai.
it include meaning importance objective merits of corporate governance because in today`s scneario it is very important for company to work with the principle of corporate governance for the survival of the company.
Whether you are considering forming a board or want to enhance existing governance practices, understanding the role of the board and expectations of directors is an essential ingredient to successful, value-added governance in private companies. Company leaders and board directors often struggle to determine the role of the board and how to separate board responsibilities from those of ownership and management. In this webinar, the audience will learn what companies are really looking for (or should be) from their boards, and the many ways that boards contribute to private company success. We will cover the definition of a board, typical expectations of a director, board oversight vs. management responsibilities, and many other basics of board formation and operation.
Part of the webinar series: Board of Directors Boot Camp 2021.
See more at https://www.financialpoise.com/webinars/
Challenges Of Corporate Social ResponsibilityElijah Ezendu
Issues in development of workable corporate social responsibility strategy and resolution of awe-inspiring stance for championing effective governance.
CSR is a process by which an organization thinks about and evolves its relationships with stakeholders for the common good and demonstrates its commitment in this regard by adoption of appropriate business processes and strategies. Thus, CSR is no charity or mere donations.
CSR is a way of conducting business, by which corporate entities visibly contribute to the social good. Socially responsible companies use CSR to integrate economic, environmental and social objectives with the company’s operations and growth.
Many other names are used to refer to CSR such as socially responsible business, responsible business conduct, responsible entrepreneurship, corporate citizenship, corporate accountability or corporate sustainability.
It is the continuing commitment by businesses to behave ethically & contribute to economic development while improving the quality of life of the workforce & their families ,local communities and the society at large
CSR requires companies to acknowledge that they should be publicly accountable not only for their financial performance but also for their social and environmental record.
It encompasses the extent to which companies should promote human rights, democracy, community improvement and sustainable development objectives throughout the world.
CSR is the commitment of businesses to contribute to sustainable economic development working with employees, their families, the local community and society at large to improve their quality of life in ways that are both for business and good for international development
The success of the board relies on the individual contribution, expertise, and behavior of its directors. During this program, we talk about the role of the director, the critical attributes of a strong director, the role of the Board and Committee chairs, and common opportunities and challenges for boards and board members. Through sharing examples from our expert group of panelists, we look at what is expected of directors from ownership and management to help highly effective directors meet or exceed those expectations and make a meaningful contribution to the company’s success.
Part of the webinar series: Board of Directors Boot Camp 2021.
See more at https://www.financialpoise.com/webinars/
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Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Explore our most comprehensive guide on lookback analysis at SafePaaS, covering access governance and how it can transform modern ERP audits. Browse now!
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
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Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
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Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
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What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
Remote sensing and monitoring are changing the mining industry for the better. These are providing innovative solutions to long-standing challenges. Those related to exploration, extraction, and overall environmental management by mining technology companies Odisha. These technologies make use of satellite imaging, aerial photography and sensors to collect data that might be inaccessible or from hazardous locations. With the use of this technology, mining operations are becoming increasingly efficient. Let us gain more insight into the key aspects associated with remote sensing and monitoring when it comes to mining.
1. EMERGING CHALLENGES BEFORE
THE INDEPENDENT DIRECTORS TO
MEET CORPORATE SOCIAL
RESPONSIBILITY
By:
CA. C. S. Nanda
Central Council Member, ICAI
1
2. Corporate
Governance
- Impacts on four key factors
-Strategy
-People
-Performance
-Risk
- Is a commitment to values and to ethical
business conduct
- Can work only with informed, committed
oversight from the Chairman and inputs from
2
independent experts
3. Corporate Governance
& Independent Director
• One of the most powerful notions in
corporate governance is the presence of
‘independent’ directors on the board of a
company
• There is a need for Independent
Directors to be inducted in all listed
companies as a corporate governance
compliances
3
4. “Independent board members can contribute
significantly to the decision-making of the
board. They can play an important role in
areas such as executive remuneration,
succession planning, changes of corporate
control, take-over defences, large acquisitions
and the audit function.”
OECD Principles of
Corporate Governance, 2004
4
5. What then, is the Role of
Independent Director?
• A spokesperson for independent and minority
interests
• A bulwark against entrenched vested
interests
• A sounding board for checking effectiveness
of strategy before implementing it
• Oversight for Management Performance
•Expert oversight for Financial Performance
5
6. And?….
Role of Independent Director
(contd.)
• Oversight on what is to be paid to whom
(especially Executive Directors) and who is
appointed to senior positions on what basis
(shareholders should remain assured that they are
getting the best possible people to run their
company)
•And in family managed companies, their
wisdom in succession planning is invaluable
6
7. Challenges before the
Independent Directors in Value
Maximization
• Value creation involves vision, risk taking
and complex trade offs among a variety of
different participants in the business
enterprise of the firm
• In order to maximize value, one must not
only satisfy but enlist the support of all
corporate stakeholders- customers, employees,
managers, suppliers and local communities
• Top management plays a crucial role in this
function through its leadership and
7
effectiveness in creating, protecting and
8. Challenges before the Independent
Directors in Value Maximization
(contd.)
•The job of Boards of Directors should be to
maximize ‘The total wealth- creating
potential of the enterprises they direct’
•In doing this, directors must understand
that business enterprises generate wealth in
at least three different ways: consumer
surplus, labour surplus and capital surplus.
•They provide products services that are
worth more to the customer than the
customer pays for them (this results in
“customer surplus”). 8
9. Challenges before the Independent
Directors in Value Maximization
(contd.)
•They provide opportunities for workers to be more
productive at their jobs than they could be in other
available employment (to the extent that the workers
are paid more than they would earn at alternative
employment, they capture some of this wealth as
(“labour surplus”)
•They can provide a flow of profits to its investors
that is greater than those investors could get by
investing in alternative activities(such wealth
captured by financiers is “capital surplus”)
•Finally, the sum of consumer surplus, labour
surplus, and capital surplus must exceed any costs
9
imposed on the surrounding community, or on others
10. Corporate Social
Responsibility
• is about capacity building for sustainable
livelihoods.
• continuing commitment by business to behave
ethically and contribute to economic development
• collection of policies and practices linked to
relationship with key stakeholders,
values,compliance with legal requirements, and
respect for people, communities and the environment
10
11. Is Corporate Social
Responsibility a Defensive or
Offensive strategy?
The defensive side of the equation includes the
following:
•Preservation of reputation and brand equity
•Reduction of litigation cost and liability arising from
environmental or other damage claims
•Avoidance of regulatory fines and penalties
•Avoidance of legislative or regulatory initiatives designed
to correct perceived corporate misconduct or indifference
to social or environmental issues
•Ability to manage or avoid shareholder proposals related
to social or environmental issues that could adversely
11
affect business prospects
12. Is Corporate Social
Responsibility a Defensive or
Offensive strategy?
Some of the attributes of social responsibility that
can be used more offensively include:
•Development of new products to meet emerging
social or environmental needs
•Enhanced customer loyalty
•Improved ability to enter new markets and obtain
government support for expanded franchise
•Competitive differentiation and enhanced
marketing opportunities
•Ability to attract and retain a pool of talented
employees 12
13. Social Responsibility and
Economic Development
According to the UN Report, a key dependency for
corporate social responsibility efforts is for governments
and communities to create an enabling environment that
will encourage companies to act in a socially responsible
manner and discourage irresponsible behavior. Some of
these interdependencies include the following:
•Transparent legal framework and “rule of law” that provides
equivalent treatment for foreign and domestic enterprises
•Independent judicial and administrative system
•Laws that prohibit bribery and corruption 13
14. Social Responsibility and
Economic Development
(contd.)
•Government assistance for education,health,training
and social infrastructure efforts
•Reasonable tax rates and administration
•Rules that promote market entry and discourage
“informal” markets
•Access to capital markets and financing
•Rules that protect intellectual and other property rights
14
15. W.E.F SURVEYED KEY BUSINESS
FACTORS
The World Economic Forum(WEF) conducted a survey of over
1300 companies on global corporate citizenship. When asked to
make the business case for social responsibility, CEOs cited the
following four factors as being the most significant:
•Managing reputation and brand equity
•Attracting, motivating and retaining talented employees
•Protecting the license to operate.
•Enhancing competitiveness and market positioning
15
16. POSSIBLE CONSEQUENCES OF
NEGLECTING CSR AS A
CORPORATE MANAGEMENT TOOL
•More litigation against the company and its key officers
•Loss of top talents
•Loss of credible investors
•Increased cost of capital
•Decline in stock value
•Loss of business partners and customers
•Loss of public contracts e.g. from international organizations
like World Bank, EU etc.
16
17. POSSIBLE CONSEQUENCES OF
NEGLECTING CSR AS A
CORPORATE MANAGEMENT TOOL
(contd.)
•Exposure to shaming/blacklisting campaigns
•Erosion of reputation and brand value
•Sabotage of facilities.
•Increased insurance premiums
•Staff strike-breach of contracts
•Risk of provoking more stringent regulations
•Courts may take failure to adopt CSR principles into
consideration in deciding liability issues
17
18. ISO 26000 to guide
CSR actions
A recent poll, of 100 business leaders from Fortune 500
companies, conducted in Feb’06 by the American society
for quality, reveals significant lags in implementing
commitment to CSR. According to the poll, 96 percent of
the business leaders think their company’s CSR behaviour
will greatly impact the nation’s economic future, but more
than 40 percent still do not have any policy in place to
guide their company’s actions. The ISO 26000, social
Responsibility standards, due out in the fourth quarter of
2008 will solidify how CSR is measured and Managed.
18
19. CSR - Challenges before the
Independent Directors
•To upholds the highest ethical
standards of integrity, probity;
•To supports executives in their
leadership of the business while
monitoring their conduct;
•To questions intelligently, debates
constructively, challenges rigorously
and decides dispassionately; 19