Corporate Governance is generally a skeleton of rules and practices by which a board of directors ensures accountability, equality, and lucidity in the firm's relationship. Corporate Social Responsibility (CSR) is an effort to operate a company or a business organization in an economical and socially sustaining environment. This paper is written keeping in view, the major and minor bits necessary of administering a corporation governance and the increasing importance and adaptation of CSR in organizations. This paper discusses up to one-hundred vital pointers having positive effect on the framework of Corporate Governance, and later mentions a Spiral Model of Success, called CGSMS (Corporate Governance- Spiral Model of Success). Secondly, to start CSR department in some organizations, there should be some specific CSR performance measures and analysis tools.
The document discusses how organizational structure and culture impact company performance using Apple as a case study. It finds that Apple's flat, informal structure and culture that encourages creativity and teamwork has helped it adapt quickly to changes and drive innovation, leading to strong financial performance. Key aspects of Apple's culture that support this include casual dress, emphasis on employees, cooperation between managers and subordinates, and training programs.
The Malaysian government has made significant efforts to improve corporate governance after the Asian financial crisis, developing an integrated plan that established guidelines and strengthened regulations. A 2006 survey found most Malaysian companies complied with local corporate governance best practices, though international standards need more adoption. Recognizing weaknesses, the government plans to merge securities and companies regulators into one independent body. Overall corporate governance has improved, but regulators face challenges in enforcement and further adoption of international standards could strengthen practices.
ITC Limited is an Indian conglomerate established in 1910 as the Imperial Tobacco Company of India. It has diversified businesses including FMCG, hotels, packaging, agriculture, and IT. ITC follows management principles like Model II organization, Fayol's 14 principles, centralized decision making through boards and committees, maintaining the scalar chain of authority, and promoting teamwork and harmony among personnel. ITC has successfully expanded into new business areas like personal care and grown its market share while maintaining management practices that emphasize stability, accountability, and societal goals.
The Malaysian Code on Corporate Governance was developed by the Working Group on Best Practices in Corporate Governance (JPK1) and approved by the Finance Committee on Corporate Governance. JPK1 was chaired by the Chairman of the Federation of Public Listed Companies and comprised representatives from private and public sectors. The Code aims to set out principles and best practices on corporate governance structures and processes at the micro-level, such as board composition and procedures. It allows for a more flexible approach to raising governance standards than regulation. Investor confidence in Malaysia was affected during the 1997/98 Asian Financial Crisis and the Code was issued in 2000 to strengthen corporate governance.
The document outlines 14 principles of management:
1. Division of work leads to specialization and efficiency.
2. All activities with the same objective should be directed by one manager according to one plan (unity of direction).
3. Discipline means respecting organizational rules through self-discipline or enforcement.
4. Remuneration policy should satisfy both employers and employees with financial and non-financial incentives.
5. There should be order for things and people in the organization.
Hierarchical latent variable models in pls semAmanatAli57
This document summarizes a research study that examined the relationship between human resource management (HRM) practices and innovative ability of employees in the banking sector of Vehari, Pakistan. The study investigated how six HRM practices (reward strategy, recruitment strategy, performance appraisal, career-oriented trainings, performance-oriented trainings, and career management) related to innovation and whether organizational culture moderated this relationship. Survey data found partial support for the relationship between HRM practices and innovation. Reward strategy, recruitment strategy, and performance appraisal positively predicted innovation, while career management also had a positive impact. However, career-oriented and performance-oriented trainings did not predict innovation. Organizational culture was found to negatively moderate
This unit 12 leadership style assignment solution is delving with the organizational behavior to evaluate the acknowledgement of personal and group behavior in CAPCO as well as to examine current theoretical aspects as well as their use for managing workplace behavioral circumstances.
The document discusses how organizational structure and culture impact company performance using Apple as a case study. It finds that Apple's flat, informal structure and culture that encourages creativity and teamwork has helped it adapt quickly to changes and drive innovation, leading to strong financial performance. Key aspects of Apple's culture that support this include casual dress, emphasis on employees, cooperation between managers and subordinates, and training programs.
The Malaysian government has made significant efforts to improve corporate governance after the Asian financial crisis, developing an integrated plan that established guidelines and strengthened regulations. A 2006 survey found most Malaysian companies complied with local corporate governance best practices, though international standards need more adoption. Recognizing weaknesses, the government plans to merge securities and companies regulators into one independent body. Overall corporate governance has improved, but regulators face challenges in enforcement and further adoption of international standards could strengthen practices.
ITC Limited is an Indian conglomerate established in 1910 as the Imperial Tobacco Company of India. It has diversified businesses including FMCG, hotels, packaging, agriculture, and IT. ITC follows management principles like Model II organization, Fayol's 14 principles, centralized decision making through boards and committees, maintaining the scalar chain of authority, and promoting teamwork and harmony among personnel. ITC has successfully expanded into new business areas like personal care and grown its market share while maintaining management practices that emphasize stability, accountability, and societal goals.
The Malaysian Code on Corporate Governance was developed by the Working Group on Best Practices in Corporate Governance (JPK1) and approved by the Finance Committee on Corporate Governance. JPK1 was chaired by the Chairman of the Federation of Public Listed Companies and comprised representatives from private and public sectors. The Code aims to set out principles and best practices on corporate governance structures and processes at the micro-level, such as board composition and procedures. It allows for a more flexible approach to raising governance standards than regulation. Investor confidence in Malaysia was affected during the 1997/98 Asian Financial Crisis and the Code was issued in 2000 to strengthen corporate governance.
The document outlines 14 principles of management:
1. Division of work leads to specialization and efficiency.
2. All activities with the same objective should be directed by one manager according to one plan (unity of direction).
3. Discipline means respecting organizational rules through self-discipline or enforcement.
4. Remuneration policy should satisfy both employers and employees with financial and non-financial incentives.
5. There should be order for things and people in the organization.
Hierarchical latent variable models in pls semAmanatAli57
This document summarizes a research study that examined the relationship between human resource management (HRM) practices and innovative ability of employees in the banking sector of Vehari, Pakistan. The study investigated how six HRM practices (reward strategy, recruitment strategy, performance appraisal, career-oriented trainings, performance-oriented trainings, and career management) related to innovation and whether organizational culture moderated this relationship. Survey data found partial support for the relationship between HRM practices and innovation. Reward strategy, recruitment strategy, and performance appraisal positively predicted innovation, while career management also had a positive impact. However, career-oriented and performance-oriented trainings did not predict innovation. Organizational culture was found to negatively moderate
This unit 12 leadership style assignment solution is delving with the organizational behavior to evaluate the acknowledgement of personal and group behavior in CAPCO as well as to examine current theoretical aspects as well as their use for managing workplace behavioral circumstances.
An appraisal on small firms corporate cultureprjpublications
This document discusses the relationship between corporate culture, innovation, and reward systems in small firms. It argues that developing a corporate culture that supports innovation must be accompanied by an appropriate reward system. A study of small firms in Chennai found a statistically significant relationship between corporate cultures that support innovation and reward system features. Most innovative companies have reward systems that encourage and reinforce innovative behaviors that are part of the corporate culture. Statistically significant relationships were also found among innovation rewards, corporate culture, and different features of variable pay systems.
1. Bharti Airtel was incorporated in 1995 as a subsidiary of Bharti Telecom and has since acquired other mobile and telecom companies to expand its operations and reach.
2. The company's vision is to provide global telecom services and delight customers, while its mission includes error-free service, innovative products, cost efficiency, and unified messaging solutions.
3. The organizational structure outlines the roles and responsibilities of key leadership positions like the Chairman & MD, CEO, and various directors overseeing functions like technology, marketing, and operations.
The document traces the evolution of management theory from early concepts like job specialization and scientific management to more modern approaches focused on human behavior, quantitative analysis, and adapting to environmental conditions. Early theories aimed to increase efficiency through specialized roles and standardized processes, while later concepts emphasized understanding worker motivation and allowing flexibility based on external factors facing the organization. A variety of perspectives have contributed to developing management practices suited to different situations over time.
This document is an assignment cover sheet and assessment sheet for a student named Wellage Dimithri Sadeepa Jayamali submitting an assignment on corporate governance for the Master of Business Administration program. The assignment involves conducting a review of the corporate governance of Hayleys Fibre PLC, a Sri Lankan manufacturer of eco-friendly coir products. Over 18 pages and 2790 words, the student analyzes Hayleys Fibre's board of directors, subcommittees, adherence to governance codes, and identifies areas for improvement. The assessment sheet will be used by the examiner to evaluate the student's work based on principles learned, application of principles, problem description, structure and other criteria.
This document introduces the Malaysian Code on Corporate Governance (MCCG), which provides guidance for listed companies on corporate governance best practices.
The key points are:
1) The MCCG reflects global best practices and is aimed at promoting long-term shareholder value while balancing other stakeholder interests.
2) It takes a new "Comprehend, Apply and Report" (CARE) approach to encourage companies to internalize governance principles and provide meaningful disclosure of their practices.
3) Companies should understand the business case for good governance and the intended outcomes of the MCCG's principles and practices in order to properly comprehend and apply the Code.
The document discusses corporate governance (CG) in Malaysia according to a 2002 report. The report defines CG as the processes and structures used to direct and manage companies in a way that enhances prosperity and accountability, with the ultimate goal of increasing long-term shareholder value while considering other stakeholders. The document also asks whether CG affects firm performance, what the costs are of establishing or improving CG, and who is responsible for CG.
This document discusses Amul co-operative of India and examines the relationship between its organizational design and operational efficiency. It finds that Amul has a cooperative structure with a blend of professionalism that gives members a sense of ownership. This federal structure with independent units at each level has proven successful. The document recommends several actions to further strengthen the relationship between Amul's design and efficiency, such as improving awareness of its mission, expanding membership, avoiding delays in decision making, increasing production and processing capacity, and applying new quality management systems like Six Sigma.
Determinants of employee retention in pakistan international airlinesAlexander Decker
This document discusses determinants of employee retention at Pakistan International Airlines (PIA). It identifies six variables that influence employee turnover intentions: career progression chances, incentive plans, work setting, supervisory support, work-life balance, and organizational prestige. The study found the greatest association between career progression chances and lower turnover intention. Associations were also found between the other five variables and lower turnover intentions. The document provides context on the importance of employee retention and an overview of its determinants like career development opportunities and support from supervisors.
Process of appraisal of company pay role workers and staff, skilled & unskil...Alexander Decker
This document summarizes a study on the performance appraisal process of employees at the International Tobacco Company Limited in Ghaziabad, India. It discusses how the company implemented a systematic performance appraisal system to evaluate employees. The process involved establishing performance standards, communicating expectations, measuring performance, comparing performance to standards, providing feedback, and taking corrective actions if needed. A survey was conducted of 150 skilled and 50 unskilled employees to understand work environment, motivation, and the impact of training programs. The results indicated that training programs improved work culture and motivation levels among employees.
This document discusses the Malaysia Code on Corporate Governance (MCCG). It provides definitions of corporate governance and explains why governance is important for promoting business prosperity, accountability, and long-term shareholder value. The MCCG aims to raise corporate governance standards through flexible guidelines and principles rather than rigid rules. It encourages listed companies and other entities to embrace practices that enhance accountability, transparency and sustainability. The document outlines key features of the 2017 MCCG, including its application approach of "Comprehend, Apply and Report" to facilitate meaningful corporate governance disclosures.
1) The document discusses the analysis of scientific management principles by F.W. Taylor and administrative principles by Henry Fayol and their implementation at Maxim Tubes Pvt. Ltd.
2) It analyzes how 14 of Fayol's administrative principles and 4 of Taylor's scientific management principles and techniques are applied at Maxim Tubes. It finds that most principles are followed but some, like centralization, are violated.
3) In conclusion, while Maxim Tubes follows many principles, the author hypothesizes the company could further prosper by more strictly applying the principles they currently manipulate or violate.
The document discusses human resource management and employee welfare measures at Andhra Cements Ltd. It aims to:
1) Study the concept of labor welfare and identify statutory and non-statutory welfare measures.
2) Profile the cement industry and Andhra Cements Ltd.'s welfare measures.
3) Elicit employee perceptions of existing welfare measures and offer suggestions for improvement.
The methodology section describes primary and secondary data collection methods used, including a questionnaire administered to 135 employees across designations. Limitations including potential response bias and non-scientific analysis methods are also noted.
Evaluate the process of performance appraisals and reward policy of AKH Fashi...Md. Shahadat Hossain
This document provides an overview of AKH Fashion Ltd., a garment manufacturing company in Bangladesh. It discusses the company's background, locations, buyers, certifications and board of directors. AKH Fashion was established in 1997 and has grown to over 17,500 employees across multiple production facilities. It produces knit and woven garments for major international brands like American Eagle, GAP and M&S. The company prioritizes quality, compliance, sustainability and buyer satisfaction in its operations and has received several important certifications.
We are a premier academic writing agency with industry partners in UK, Australia and Middle East and over 15 years of experience. We are looking to establish long-term relationships with industry partners and would love to discuss this opportunity further with you.
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Corporate governance compliance practices of indian companiesAlexander Decker
This document summarizes the evolution of corporate governance practices in India. It discusses several committees that were formed starting in the late 1990s to early 2000s to develop codes and recommendations around improving corporate governance for Indian companies. These included the CII Code in 1998, the Birla Committee in 1999, the Naresh Chandra Committee in 2002, and the Narayana Murthy Committee in 2003. The recommendations from these committees helped establish Clause 49 of the listing agreement, which aimed to enhance standards of corporate governance for listed companies in India. The document also briefly reviews some prior literature that has analyzed corporate governance reporting practices among Indian firms and the relationship between adopting Clause 49 and company volatility/returns.
5. does corporate entrepreneurship matter for organizational learning capabil...Alexander Decker
This document summarizes a study that investigated the relationship between corporate entrepreneurship and organizational learning capability in the textile sector of Pakistan. The study surveyed 240 middle managers and found a positive and significant relationship between corporate entrepreneurship and organizational learning capability. This suggests that organizations that are more innovative and risk-taking have greater learning capabilities. The findings indicate that entrepreneurship training could help enhance skills that support entrepreneurship and innovation.
Corporate Governance and Presence of Women Director on Boards”-IOSRJBM
The essence of Corporate Governance practices in the new Millennium is construed to mean something beyond the formal demonstrations and exhibitions of accountability and trust. The appropriateness of corporate governance can be felt only by giving regard to the assessment of competencies and behavioral skills of the Board of Directors. The companies with the goal of composing boards with integrity and expertise are dipping into new pools of candidates including women. Yet some of the large companies still have no women directors.In this paper an attempt is made to find answer for the question,“Are there enough qualified, competent and skilled women directors available to substantially increase the representation of women on boards”. The paper also poises certain examples, where women have proved competence, appropriateness and trust around the world. Further the paper also examines whether fortune Indian companies which has made its position on global fortune 500 companies has women directors on the board.
This document provides a case study of Amul Co-operative in India and examines its organizational design and operational efficiency. It discusses Amul's cooperative structure which involves three tiers - village societies for procurement, unions for processing, and federations for marketing. This federal structure gives each unit independence while maintaining organic links. Amul's model blends professional management with participation of farmer-members in decision making. It compares Amul's model to other state cooperatives which are less successful due to government interference and lack of long-term professional leadership. The study analyzes how Amul's design supports its goals of maximizing returns for milk producers through strategic operations and a dynamic logistics system.
This document summarizes a research paper that examined how Australian construction companies approach employee safety, well-being, and training as resources to improve sustainability performance. The research analyzed annual reports and websites of the top 20 construction companies. It found that most companies prioritize employee safety and larger companies also emphasize well-being. Around half provided training though mandatory health and safety training was common. Public and private companies showed no significant differences in practices. Safety and well-being, and training and well-being, were positively correlated. The research contributes to understanding how employee skills can boost sustainability performance.
Abstract
Corporate governance is very important in our business world today, especially after the frequent non-stop worldwide financial crises. Strong corporate governance is now considered a basic condition to accept and register an organization in most of the Stock Exchange Markets all over the world. The audit committee plays a major role in corporate governance regarding the organization’s direction, control, and accountability. As a representative of the board of directors and main part of the corporate governance mechanism, the audit committee is involved in the organization’s both internal and external audits, internal control, accounting and financial reporting, regulatory compliance, and risk management. This paper focuses on the audit committee’s powers, functions, responsibilities, and relationships within the framework of corporate governance.
Internal corporate governance mechanisms and agency co evidence from large ks...Alexander Decker
This document summarizes a study that analyzed the relationship between various internal corporate governance mechanisms and agency costs in large firms listed on the Karachi Stock Exchange from 2003-2010. The study used two proxies for measuring agency costs - asset utilization ratio and asset liquidity ratio. Several independent variables thought to influence agency costs were examined, including board/committee activities, board size, CEO tenure, block ownership percentage, largest investor percentage, and CEO/chairman duality. The results found that agency costs decreased with more frequent board/committee meetings and lower block ownership. Higher agency costs were associated with larger board size, longer CEO tenure, and CEO/chairman duality.
An appraisal on small firms corporate cultureprjpublications
This document discusses the relationship between corporate culture, innovation, and reward systems in small firms. It argues that developing a corporate culture that supports innovation must be accompanied by an appropriate reward system. A study of small firms in Chennai found a statistically significant relationship between corporate cultures that support innovation and reward system features. Most innovative companies have reward systems that encourage and reinforce innovative behaviors that are part of the corporate culture. Statistically significant relationships were also found among innovation rewards, corporate culture, and different features of variable pay systems.
1. Bharti Airtel was incorporated in 1995 as a subsidiary of Bharti Telecom and has since acquired other mobile and telecom companies to expand its operations and reach.
2. The company's vision is to provide global telecom services and delight customers, while its mission includes error-free service, innovative products, cost efficiency, and unified messaging solutions.
3. The organizational structure outlines the roles and responsibilities of key leadership positions like the Chairman & MD, CEO, and various directors overseeing functions like technology, marketing, and operations.
The document traces the evolution of management theory from early concepts like job specialization and scientific management to more modern approaches focused on human behavior, quantitative analysis, and adapting to environmental conditions. Early theories aimed to increase efficiency through specialized roles and standardized processes, while later concepts emphasized understanding worker motivation and allowing flexibility based on external factors facing the organization. A variety of perspectives have contributed to developing management practices suited to different situations over time.
This document is an assignment cover sheet and assessment sheet for a student named Wellage Dimithri Sadeepa Jayamali submitting an assignment on corporate governance for the Master of Business Administration program. The assignment involves conducting a review of the corporate governance of Hayleys Fibre PLC, a Sri Lankan manufacturer of eco-friendly coir products. Over 18 pages and 2790 words, the student analyzes Hayleys Fibre's board of directors, subcommittees, adherence to governance codes, and identifies areas for improvement. The assessment sheet will be used by the examiner to evaluate the student's work based on principles learned, application of principles, problem description, structure and other criteria.
This document introduces the Malaysian Code on Corporate Governance (MCCG), which provides guidance for listed companies on corporate governance best practices.
The key points are:
1) The MCCG reflects global best practices and is aimed at promoting long-term shareholder value while balancing other stakeholder interests.
2) It takes a new "Comprehend, Apply and Report" (CARE) approach to encourage companies to internalize governance principles and provide meaningful disclosure of their practices.
3) Companies should understand the business case for good governance and the intended outcomes of the MCCG's principles and practices in order to properly comprehend and apply the Code.
The document discusses corporate governance (CG) in Malaysia according to a 2002 report. The report defines CG as the processes and structures used to direct and manage companies in a way that enhances prosperity and accountability, with the ultimate goal of increasing long-term shareholder value while considering other stakeholders. The document also asks whether CG affects firm performance, what the costs are of establishing or improving CG, and who is responsible for CG.
This document discusses Amul co-operative of India and examines the relationship between its organizational design and operational efficiency. It finds that Amul has a cooperative structure with a blend of professionalism that gives members a sense of ownership. This federal structure with independent units at each level has proven successful. The document recommends several actions to further strengthen the relationship between Amul's design and efficiency, such as improving awareness of its mission, expanding membership, avoiding delays in decision making, increasing production and processing capacity, and applying new quality management systems like Six Sigma.
Determinants of employee retention in pakistan international airlinesAlexander Decker
This document discusses determinants of employee retention at Pakistan International Airlines (PIA). It identifies six variables that influence employee turnover intentions: career progression chances, incentive plans, work setting, supervisory support, work-life balance, and organizational prestige. The study found the greatest association between career progression chances and lower turnover intention. Associations were also found between the other five variables and lower turnover intentions. The document provides context on the importance of employee retention and an overview of its determinants like career development opportunities and support from supervisors.
Process of appraisal of company pay role workers and staff, skilled & unskil...Alexander Decker
This document summarizes a study on the performance appraisal process of employees at the International Tobacco Company Limited in Ghaziabad, India. It discusses how the company implemented a systematic performance appraisal system to evaluate employees. The process involved establishing performance standards, communicating expectations, measuring performance, comparing performance to standards, providing feedback, and taking corrective actions if needed. A survey was conducted of 150 skilled and 50 unskilled employees to understand work environment, motivation, and the impact of training programs. The results indicated that training programs improved work culture and motivation levels among employees.
This document discusses the Malaysia Code on Corporate Governance (MCCG). It provides definitions of corporate governance and explains why governance is important for promoting business prosperity, accountability, and long-term shareholder value. The MCCG aims to raise corporate governance standards through flexible guidelines and principles rather than rigid rules. It encourages listed companies and other entities to embrace practices that enhance accountability, transparency and sustainability. The document outlines key features of the 2017 MCCG, including its application approach of "Comprehend, Apply and Report" to facilitate meaningful corporate governance disclosures.
1) The document discusses the analysis of scientific management principles by F.W. Taylor and administrative principles by Henry Fayol and their implementation at Maxim Tubes Pvt. Ltd.
2) It analyzes how 14 of Fayol's administrative principles and 4 of Taylor's scientific management principles and techniques are applied at Maxim Tubes. It finds that most principles are followed but some, like centralization, are violated.
3) In conclusion, while Maxim Tubes follows many principles, the author hypothesizes the company could further prosper by more strictly applying the principles they currently manipulate or violate.
The document discusses human resource management and employee welfare measures at Andhra Cements Ltd. It aims to:
1) Study the concept of labor welfare and identify statutory and non-statutory welfare measures.
2) Profile the cement industry and Andhra Cements Ltd.'s welfare measures.
3) Elicit employee perceptions of existing welfare measures and offer suggestions for improvement.
The methodology section describes primary and secondary data collection methods used, including a questionnaire administered to 135 employees across designations. Limitations including potential response bias and non-scientific analysis methods are also noted.
Evaluate the process of performance appraisals and reward policy of AKH Fashi...Md. Shahadat Hossain
This document provides an overview of AKH Fashion Ltd., a garment manufacturing company in Bangladesh. It discusses the company's background, locations, buyers, certifications and board of directors. AKH Fashion was established in 1997 and has grown to over 17,500 employees across multiple production facilities. It produces knit and woven garments for major international brands like American Eagle, GAP and M&S. The company prioritizes quality, compliance, sustainability and buyer satisfaction in its operations and has received several important certifications.
We are a premier academic writing agency with industry partners in UK, Australia and Middle East and over 15 years of experience. We are looking to establish long-term relationships with industry partners and would love to discuss this opportunity further with you.
Thanks & Regards
visit our website.
www.onlineassignmenthelp.com.au
www.freeassignmenthelp.com
www.btechndassignment.cheapassignmenthelp.co.uk
www.cheapassignmenthelp.com
cheapassignmenthelp.co.uk - Top Assignment Help | Buy Online Assignment Writing Help Services UK|Assignment Help UK
Corporate governance compliance practices of indian companiesAlexander Decker
This document summarizes the evolution of corporate governance practices in India. It discusses several committees that were formed starting in the late 1990s to early 2000s to develop codes and recommendations around improving corporate governance for Indian companies. These included the CII Code in 1998, the Birla Committee in 1999, the Naresh Chandra Committee in 2002, and the Narayana Murthy Committee in 2003. The recommendations from these committees helped establish Clause 49 of the listing agreement, which aimed to enhance standards of corporate governance for listed companies in India. The document also briefly reviews some prior literature that has analyzed corporate governance reporting practices among Indian firms and the relationship between adopting Clause 49 and company volatility/returns.
5. does corporate entrepreneurship matter for organizational learning capabil...Alexander Decker
This document summarizes a study that investigated the relationship between corporate entrepreneurship and organizational learning capability in the textile sector of Pakistan. The study surveyed 240 middle managers and found a positive and significant relationship between corporate entrepreneurship and organizational learning capability. This suggests that organizations that are more innovative and risk-taking have greater learning capabilities. The findings indicate that entrepreneurship training could help enhance skills that support entrepreneurship and innovation.
Corporate Governance and Presence of Women Director on Boards”-IOSRJBM
The essence of Corporate Governance practices in the new Millennium is construed to mean something beyond the formal demonstrations and exhibitions of accountability and trust. The appropriateness of corporate governance can be felt only by giving regard to the assessment of competencies and behavioral skills of the Board of Directors. The companies with the goal of composing boards with integrity and expertise are dipping into new pools of candidates including women. Yet some of the large companies still have no women directors.In this paper an attempt is made to find answer for the question,“Are there enough qualified, competent and skilled women directors available to substantially increase the representation of women on boards”. The paper also poises certain examples, where women have proved competence, appropriateness and trust around the world. Further the paper also examines whether fortune Indian companies which has made its position on global fortune 500 companies has women directors on the board.
This document provides a case study of Amul Co-operative in India and examines its organizational design and operational efficiency. It discusses Amul's cooperative structure which involves three tiers - village societies for procurement, unions for processing, and federations for marketing. This federal structure gives each unit independence while maintaining organic links. Amul's model blends professional management with participation of farmer-members in decision making. It compares Amul's model to other state cooperatives which are less successful due to government interference and lack of long-term professional leadership. The study analyzes how Amul's design supports its goals of maximizing returns for milk producers through strategic operations and a dynamic logistics system.
This document summarizes a research paper that examined how Australian construction companies approach employee safety, well-being, and training as resources to improve sustainability performance. The research analyzed annual reports and websites of the top 20 construction companies. It found that most companies prioritize employee safety and larger companies also emphasize well-being. Around half provided training though mandatory health and safety training was common. Public and private companies showed no significant differences in practices. Safety and well-being, and training and well-being, were positively correlated. The research contributes to understanding how employee skills can boost sustainability performance.
Abstract
Corporate governance is very important in our business world today, especially after the frequent non-stop worldwide financial crises. Strong corporate governance is now considered a basic condition to accept and register an organization in most of the Stock Exchange Markets all over the world. The audit committee plays a major role in corporate governance regarding the organization’s direction, control, and accountability. As a representative of the board of directors and main part of the corporate governance mechanism, the audit committee is involved in the organization’s both internal and external audits, internal control, accounting and financial reporting, regulatory compliance, and risk management. This paper focuses on the audit committee’s powers, functions, responsibilities, and relationships within the framework of corporate governance.
Internal corporate governance mechanisms and agency co evidence from large ks...Alexander Decker
This document summarizes a study that analyzed the relationship between various internal corporate governance mechanisms and agency costs in large firms listed on the Karachi Stock Exchange from 2003-2010. The study used two proxies for measuring agency costs - asset utilization ratio and asset liquidity ratio. Several independent variables thought to influence agency costs were examined, including board/committee activities, board size, CEO tenure, block ownership percentage, largest investor percentage, and CEO/chairman duality. The results found that agency costs decreased with more frequent board/committee meetings and lower block ownership. Higher agency costs were associated with larger board size, longer CEO tenure, and CEO/chairman duality.
11.[38 47]two-tier corporate governance model for pakistanAlexander Decker
1) The document proposes a two-tier corporate governance model for Pakistan based on a review of models from developed and developing countries.
2) A two-tier board structure is suggested, with a supervisory board of non-executive directors and a separate management board of executive directors. Both boards would constitute a joint board headed by an independent chairman.
3) The hybrid model aims to address issues in Pakistan like ensuring balanced representation on boards and filling governance gaps, in order to improve corporate governance, economic growth, and reduce poverty.
Islamic solutions to the modern economic crisisYamen Nanne
The document discusses the history and flaws of the current fiat monetary system and proposes Islamic economic solutions. It summarizes that the Federal Reserve system allows private banks to profit from money creation through interest, creating perpetual debt. This system caused the 2008 financial crisis. Islam prohibits interest and advocates financing that is tied to real economic transactions and risk-sharing models. The document proposes short-term solutions like debt relief and complementary currencies, and long-term solutions such as commodity-backed currencies and negative interest in the form of zakat to transition to a just economic system.
This document is a thesis submitted by Senia Ak Schweitzer Bettie to the Faculty of Business Administration at Universiti Teknologi MARA in June 2015. The thesis examines the determinants of profitability for foreign Islamic banks operating in Malaysia from 2008 to 2013. It conducts a literature review on previous studies related to return on assets, risk-weighted capital ratio, overhead costs, gross domestic product, and inflation rate. A theoretical framework and hypotheses are presented. The methodology section describes the data sources, target population of foreign Islamic banks, and statistical analysis used including multiple regression and diagnostic tests. The findings and analysis chapter presents descriptive statistics, correlation analysis, and the results of the multiple regression model. The conclusion summar
The document discusses the state of Islamic capital markets globally and prospects for future growth. It provides an overview of key statistics on the size of Islamic financial assets and Muslim populations. Malaysia is highlighted as a leader in Islamic finance, with the majority of its equity market and unit trusts being Sharia-compliant. While some OIC countries have developing capital markets, liquidity and market sizes vary significantly. The document argues that international standards and improved infrastructure are needed to further develop Islamic capital markets and attract more international investors. With continued economic growth in Muslim-majority regions, Islamic capital markets have the potential to reach several trillion dollars in the coming years.
DETERMINANTS OF BANK-SPECIFIC AND MACROECONOMIC FACTORS THAT ARE AFFECTING T...Uni-assignment
DETERMINANTS OF BANK-SPECIFIC AND MACROECONOMIC FACTORS THAT ARE AFFECTING THE PROFITABILITY OF COMMERCIAL BANKS A STUDY ON THE BRIC FROM THE EMERGING MARKET
The document discusses various Islamic finance structures that can be used as alternatives to conventional debt structures. It describes common equity-based structures like Musharakah, Murabaha, and Mudarabah. It also discusses Sukuk structures, which are Islamic bonds, with the most common being Sukuk al-Mudarabah and Sukuk al-Ijarah. The document notes there are opportunities for businesses to access liquidity in the Middle East market through these Islamic finance structures.
This document is a research paper that examines the impact of capital structure on the profitability of banking sectors in Pakistan. It analyzes data from 4 conventional banks and 4 Islamic banks over 19 years. The results show that for conventional banks, profitability is positively affected by capital structure, indicating a positive relationship between profitability and capital structure. However, for Islamic banks profitability is negatively affected by capital structure, showing a negative relationship between profitability and capital structure. The paper aims to contribute to understanding how capital structure impacts profitability differently between conventional and Islamic banking.
The document discusses the benefits of meditation for reducing stress and anxiety. Regular meditation practice can help calm the mind and body by lowering heart rate and blood pressure. Making meditation a part of a daily routine, even if just 10-15 minutes per day, can have mental and physical health benefits over time by reducing stress levels and promoting relaxation.
Uday Amirpu has experience working in fintech and healthcare companies in Singapore, Malaysia, and India. He held roles such as Director in a robotic trading company and helped a healthcare startup expand to other cities. Currently based in Hyderabad, he aspires to be a private banker leveraging his knowledge of investments. He has a postgraduate degree in finance and economics degrees, and certifications in mutual funds.
Pengaruh biaya periklanan dan personal selling terhadap penjualan deposito pa...An Nisbah
Abstract: The purpose of this research is to test infuence: (1) the expense of advertisement to improvement of deposit sale; (2) the expense of personal selling to improvement of deposit sale; (3) at the same time the expense of advertisement and the expense of personal selling to improvement of deposit sale. The research uses six sekunder data in the year 2011 up to 2013 in semester. The technique of data analysis uses the double analysis regresi with the program SPSS 21. The finding of the research was the expense of advertisement is not signifcant infuence to improvement of deposit sale and the expense of personal selling is signifcant infuence to improvement of deposite sale. At the same time the expense of advertisement and personal selling are
signifcant infuence to improvement of deposite sale.
Keywords: Expense, Advertisement, Personal Selling, Deposit
1. The document discusses the differences between conventional and Islamic banking, noting that Islamic banks prohibit riba (usury or interest) which is forbidden in the Quran.
2. It explains how conventional banks use debt-based lending with interest charges, whereas Islamic banks engage in profit and loss sharing arrangements through modes like mudarabah and musharakah to finance projects.
3. However, the document questions whether some practices of Islamic banks like murabahah trading contracts are merely ways of disguising interest-based debt through legal tricks, and whether Islamic banks truly share in risks with investors or just transfer risks to borrowers.
Tinjauan syariah terhadap transaksi muamalat asuransi kesehatan badan penyele...An Nisbah
Abstract: Insurance business can be distinguished on some reviews. It includes general insurances, life insurances and reinsurances (on the basis of its function). Based on its basic policy, It includes term life insurances, whole life insurances, two benefcial insurances, insurances of investment unit (unit linked). Based on its belongings, it includes national private-owned insurances, state-owned
insurances, foreign corporations-owned insurances, and multiplicity-owned insurances. Based on the nature of its implementation, it includes voluntary and compulsory insurances. Based on the business support activities, it includes insurance brokers, reinsurance brokers, insurance loss assessor, consulting
actuary, and insurance agents. Mean while, mechanisms of Takaful (shari’a insurances) include underwriting, insurance policies, premiums, management of premiums, claims and insurance coverage. The main obstacles to develop shari’a insurance are lack of socialization, limitation of human resources of Takaful’s expert; lack of Muslim support, weakness of government support.
Keywords: Insurance, Syari’ah, BPJS.
This study aims to determine the relationship between corporate social responsibility (CSR) activities and financial performance of Islamic banks in Bangladesh. The researcher analyzed CSR data from annual reports of 7 Islamic banks over a 5-year period. Regression models showed a negative relationship between CSR disclosure index and return on assets/return on equity, indicating higher CSR spending is associated with lower financial performance. The study recommends increasing CSR spending in more beneficial sectors and establishing governance over banks' CSR activities. Limitations include a small sample size and focus on accounting measures of performance.
This document discusses incorporating value-based approaches like ethics into corporate governance practices. It argues that compliance-based governance is insufficient and that integrating ethics can help address shortcomings. The paper explores institutionalizing ethics through mechanisms like establishing an ethics committee and codes of conduct. A case study of a Malaysian communications company found it had implemented several ethical mechanisms like a "Defalcation Committee" to handle ethical issues, showing how institutionalizing ethics can enhance corporate governance.
ROLE OF CORPORATE GOVERNANCE IN OPTIMISING WORKFORCE PRODUCTIVITYPeachy Essay
The current study supplies detailed analysis and evidences of corporate governance practices of Tesco and the process how effective governance can impact on the workforce productivity. In order to research on this topic in a systematic way, the researcher has divided the entire study into several interlinked parts. In the introductory chapter, the author has mentioned the primary aims and objectives, along with rationale of study to view the significance of the research in current context. Tye past studies and evidences are analysed in second chapter to structure a literature on the topic undertaken. According to theoretical evidences, corporate governance is the set of rules or principles that firms employ in organizational procedure to execute a fair and ethical trade practice. However, different factors affect the employee performance as being present in the governance policies. Tesco basically follows standard governance structure whereas there is space to widen the area of improving workforce efficiency by upgrading governance. In the methodology chapter, the author has mentioned the best possible approaches that have been employed thorough selecting right blend of research paradigms. Besides positivism, the researcher has selected deductive approach and descriptive design. The data has been collected via survey from employees and interviews with managers.
Impact of Corporate Governance on Firms’ Financial Performance: Textile Secto...inventionjournals
Purpose: The basic standard of this article is to find out the outcome of corporate governance on firm’s profitability in textile sector of listed companies in Pakistan. Methodology: The data are collected from respective textile sector annual reports from 2005 to 2014.The results of different variables arise by using different techniques like descriptive, correlation and regression in using software of E-views in this study. Findings: These results of study explain that corporate governance and firm’s financial performance shows positive relationship between each other. This indicates that in textile sectors adopting corporate governance and plays a significant role in textile sectors. Research limitations: This study restricts by fewer digit of determinantslinked corporategovernance and data gathered from 2005 to 2014 were addressed, which restrictions the overview of the result. Further research can be conduct by using more variables and more years for finding more in future. Originality: This study shows that the firm’s performance has increased by using corporate governance in textile sector firms.
Impact of Corporate Governance on Firms’ Financial Performance: Textile Secto...inventionjournals
Purpose: The basic standard of this article is to find out the outcome of corporate governance on firm’s profitability in textile sector of listed companies in Pakistan. Methodology: The data are collected from respective textile sector annual reports from 2005 to 2014.The results of different variables arise by using different techniques like descriptive, correlation and regression in using software of E-views in this study. Findings: These results of study explain that corporate governance and firm’s financial performance shows positive relationship between each other. This indicates that in textile sectors adopting corporate governance and plays a significant role in textile sectors. Research limitations: This study restricts by fewer digit of determinantslinked corporategovernance and data gathered from 2005 to 2014 were addressed, which restrictions the overview of the result. Further research can be conduct by using more variables and more years for finding more in future. Originality: This study shows that the firm’s performance has increased by using corporate governance in textile sector firms.
Impact of corporate governance on firm performance publishedMuhammad Usman
In the light of corporate financial scandals, there is an increasing attention on corporate governance issues. The investors look for emerging economies to diversify their investment portfolios to exhaust the possibilities of returns. This paper examines the impact of corporate governance variables on firms’ performance. This Research found that there is a direct positive relationship between profitability measured either by Earnings per share (EPS) or Return on assets (ROA) and corporate governance, also have a positive direct relationship between each of liquidity, dividend per share, and the size of the company with corporate governance, finally the study found a positive direct relationship between corporate governance and corporate performance. Various studies have been conducted in developing countries including Pakistan to investigate the relationship among corporate governance and firm performance. This study indicates that corporate governance can be measured through the following elements.
(1) board size (2) Female Member (3) CEO duality (4) Education of Directors (5) Board working experience(6) independent directors (7) board compensation (8) Board ownership (9) Audit committee (10) Board composition(11)Leadership Structure
Impact of corporate governance on firm performance publishedMuhammad Usman
In the light of corporate financial scandals, there is an increasing attention on corporate governance issues. The investors look for emerging economies to diversify their investment portfolios to exhaust the possibilities of returns. This paper examines the impact of corporate governance variables on firms’ performance. This Research found that there is a direct positive relationship between profitability measured either by Earnings per share (EPS) or Return on assets (ROA) and corporate governance, also have a positive direct relationship between each of liquidity, dividend per share, and the size of the company with corporate governance, finally the study found a positive direct relationship between corporate governance and corporate performance. Various studies have been conducted in developing countries including Pakistan to investigate the relationship among corporate governance and firm performance. This study indicates that corporate governance can be measured through the following elements.
(1) board size (2) Female Member (3) CEO duality (4) Education of Directors (5) Board working experience(6) independent directors (7) board compensation (8) Board ownership (9) Audit committee (10) Board composition(11)Leadership Structure
Impact of Corporate Governance on Organizational PerformanceJenıstön Delımä
Citation: Delima, V. J., & Ragel, V. R. (2017). Impact of corporate governance on organizational performance. International Journal of Engineering Research and General Science, 5(5).
Abstract- This study examined whether corporate governance has impact on organizational performance in Financial Institutions as research problem. This research was carried out with objective to measure association between Corporate Governance and Financial Institution’s Performance in Batticaloa district. Conceptual framework has been developed to measure linkages between Corporate Governance and Financial Institution’s Performance. Board Size, Corporate Governance Mechanism, Communication Strategies, and Code of Conduct are considered as the measurement variables of Corporate Governance which was derived from Changezi & Saeed (2013) and Customer Satisfaction, Employee Commitment and Corporate Reputation are considered as the measurement variable of Organizational Performance which was derived from Bayoud (2012) and Carton (2004). Questionnaires were used to collect data for this study. 115 Management Respondents and 115 Customers from whole Financial Institutions in Batticaloa district have been selected for this study. Data were analyzed and evaluated by Univariate and Bivariate techniques. In Univariate analysis, Descriptive statistic has been used for the analysis. In Bivariate analysis, Correlation and multiple regressions have been used for the analysis. Findings have shown the Corporate Governance and Organizational Performance are at high level. Moreover, it also found that there is a strong positive relationship between Corporate Governance and Organizational Performance. Corporate Governance significantly impacts Organizational Performance of Financial Institutions. These findings would be useful to consider more on Corporate Governance practices to avoid the Corporate Collapses and to achieve successful Organizational Performance
The document discusses corporate governance in the banking sector. It provides context on the evolution of corporate governance standards in Indian banks, driven by regulatory changes from the Reserve Bank of India. Key points covered include increased transparency requirements, off-site monitoring of risk and capital adequacy, and implementation of prompt corrective actions. The document also outlines some of the guidelines provided in the RBI's corporate governance code for banks, including the responsibilities of boards of directors to stakeholders and oversight of management through committees.
Problems, procedures and practices in implementingprjpublications
This document summarizes a research paper on the problems, procedures, and practices of implementing corporate governance in Indian small and medium enterprises (SMEs). It finds that while SMEs are important to the Indian economy, they face many challenges. Corporate governance can help SMEs address challenges by improving internal controls, accountability, and profitability. However, the study finds most Indian SME entrepreneurs are not aware of the benefits of corporate governance practices. Through interviews and surveys in three districts, it analyzes differences in opinions on implementing governance. While some SMEs follow governance principles unknowingly, most respondents lack awareness of its advantages.
Problems, procedures and practices in implementingprjpublications
This document summarizes a research paper on the problems, procedures, and practices of implementing corporate governance in Indian small and medium enterprises (SMEs). It finds that while SMEs are important to the Indian economy, they face many challenges. Corporate governance can help SMEs address challenges by improving internal controls, accountability, and profitability. However, the study finds most Indian SME entrepreneurs are not aware of the benefits of corporate governance and their implementation of practices varies. While some follow governance guidelines unconsciously, others do not implement formal practices due to lack of awareness, education, and flexible policies. The document examines corporate governance in SMEs in India and other countries and provides recommendations.
This summary provides an overview of a document that discusses the implementation of human resource management at Sky Garden, a new grief services company, using the McKinsey 7S model.
The document first provides background on Sky Garden and the need for effective human resource management practices as the company competes in a growing industry. It then reviews relevant literature on human resource management and the McKinsey 7S model.
The main findings from applying the McKinsey 7S model to Sky Garden's human resource practices are:
1) The company developed clear strategies around product development and market development to guide its goals.
2) Sky Garden established an organizational structure that defines roles, responsibilities, and lines of communication and
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This document discusses the role of boards of directors in corporate governance. It begins by providing background on corporate governance and defining it. The objectives and principles of corporate governance are then outlined. This includes ensuring shareholder rights and equitable treatment, recognizing stakeholder interests, disclosure and transparency, and strategic guidance by the board. The roles and responsibilities of boards of directors are then discussed in more detail. The board is responsible for overseeing company activities and representing shareholder interests. Directors must act with care, loyalty and avoid conflicts of interest. The board provides strategic guidance, oversees management, and ensures accountability and shareholder value. Good corporate governance depends on effective board leadership, composition, roles and responsibilities.
STRATEGY FORMULATION MODEL TO IMPROVE IMPLEMENTATION OF CORPORATE SOCIAL RESP...IAEME Publication
This research is based on reality condition of Corporate Social Responsibility
(CSR) activity in generic CSR program. Many companies implement CSR based on
external pressures, such as regulators, environmentalists and other associations. CSR
Implementation is not an internal awareness of company to improve social
environment and has no relevance to main activities and corporate strategy.
Therefore, it does not give benefits to the performance and competitive advantage.
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ethical integrity rules, norms and policies will increase the leadership commitment to
formulate the company's strategy by taking into account aspects of natural and social
environment in addition to main purpose to generate profits. Organizational learning
culture improves the effectiveness of corporate strategy formulation. Strategy
formulation will improve leadership commitment to create CSR implementation
This document discusses a study that examines whether human resource practices mediate the relationship between corporate governance principles and business performance in Turkey. The study surveyed 304 managers and analyzed the data using SPSS. The results concluded that human resource practices do have a mediating effect on how corporate governance principles impact business performance. This provides important insights for companies looking to adopt corporate governance principles by helping them restructure their human resource practices.
This document discusses a case study of the manufacturing competency of Sonalika tractor manufacturing unit in India. It analyzes factors like product design and development, quality control, and performance parameters. It was found that joint ventures improved sales by allowing for more investment in manufacturing plants and precise testing, which increased testing and production levels. Sales also improved with enhancements to the manufacturing unit's competitiveness. The document provides background on Sonalika and describes its research and development facilities.
The document provides an overview of several global business excellence models and frameworks, including the Australian Business Excellence Framework, Malcolm Baldrige Framework, EFQM Excellence Model, Tata Business Excellence Model, and Mexican Business Excellence Model. It describes the key elements and criteria of each model. The conclusion argues that an ideal comprehensive business excellence model should be general enough to cover all business activities, processes, and functions, while also being user-friendly, dynamic, and able to evolve over time.
Impact of corporate governance practices on firm capital structure and profit...Alexander Decker
This document summarizes a research study that investigated the relationship between corporate governance practices and capital structure and profitability among listed hotels and restaurant companies in Sri Lanka. The study examined relationships between board composition, board size, and CEO duality as corporate governance factors, and debt ratio, debt-to-equity ratio, return on equity, and return on assets as measures of capital structure and profitability. The results did not find any statistically significant relationships between the corporate governance and performance measures.
The document discusses corporate governance in Malaysia. It explains that the Malaysian Code on Corporate Governance (MCCG) was first introduced in 2000 and has since been revised in 2007, 2012, and 2016. The MCCG sets out principles and recommendations for good corporate governance practices for public listed companies in Malaysia. It aims to enhance business prosperity and corporate accountability. The key principles in the MCCG include establishing clear roles and responsibilities of the board, strengthening the board's composition, upholding independence, fostering commitment, upholding integrity in financial reporting, recognizing and managing risk, ensuring timely disclosure, and strengthening relationships between companies and shareholders. The document also discusses components of corporate governance in Malaysia and the Shariah governance framework for Islamic banks
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IMPROVING CORPORATE GOVERNANCE USING CORPORATE SOCIAL RESPONSIBILITIES THROUGH ANALYTICAL METHODOLOGIES [APRIL 2009]
1. IMPROVING CORPORATE GOVERNANCE
USING CORPORATE SOCIAL RESPONSIBILITIES
THROUGH ANALYTICAL METHODOLOGIES
Fahad Mahmud Mirza
CASE, G-5/1, Attaturk Avenue, Islamabad, Pakistan
fahad.mirza@gmail.com
Muhammad Umer Arfi
Technology Nucleus (Pvt) Ltd., Islamabad, Pakistan
arfeenrwp@gmail.com
Mr. Tahir Shamshad
Member Engineering, Main CDA Secretariat, G-7, Islamabad, Pakistan
tahirshamshad@yahoo.com
ABSTRACT
Corporate Governance is generally a skeleton of rules and practices by which a board of directors
ensures accountability, equality, and lucidity in the firm's relationship. Corporate Social
Responsibility (CSR) is an effort to operate a company or a business organization in an economical
and socially sustaining environment. This paper is written keeping in view, the major and minor
bits necessary of administering a corporation governance and the increasing importance and
adaptation of CSR in organizations. This paper discusses up to one-hundred vital pointers having
positive effect on the framework of Corporate Governance, and later mentions a Spiral Model of
Success, called CGSMS (Corporate Governance- Spiral Model of Success). Secondly, to start
CSR department in some organizations, there should be some specific CSR performance measures
and analysis tools.
This paper proposes not only some major analysis tools but also gives the new and improved
concept of proper implementation of CSR. A new and improved CSR System Design and
Implementation Technique for CSR Model is developed for implementation in any general
corporate body. The CSR model was first proposed in MEQA 2nd Quality Conference, Dubai, at its
first phase. The model then has been revised and upgraded for more applied, professional and
progressive approach and assured for being more practically efficient. This paper establishes a
relationship between CSR and Corporate Governance and proves how proper implementation of
CSR results in progressive improvement of Corporate Governance.
Purpose: The purpose of the paper is to establish and vitalize importance of Corporate Social
Responsibilities (CSR) and a new, improved CSR model application for the organizations leading
to Corporal Success in a competitive environment by improving Corporate Governance using CSR
in any corporation.
Methodology: The research strategy involves the revision of previous case studies along with the
surveys and a humongous amount of data collected relating the nucleus of Corporate Governance in
Pakistan and the studies and issues related with CSR. The methodology also involves the
conceptual and thorough study of international scenarios incorporated and duly presented by the
global corporate sector. Various organizations in the corporate sector would be visited to cover up
the research. During the research, an organization has been incorporated under Securities and
Exchange Commission of Pakistan (SECP, The corporate regulatory authority).
2. Findings: The first and foremost conclusion devised through the research is that the Corporate
Governance has ended up as nothing more than a legal requirement and obligation implied by the
government of Pakistan, through studying the heavy surveys conducted. Along with that, the
findings in this research also involve up to hundred fundamental parameters related to Corporate
Governance and practical application outcomes of the CSR model proposed at MEQA 2nd
Conference, Dubai. Moreover the CSR model presented here; is proven as true for internal CSR
dimensions as were justified for external CSR indicators.
Value of Paper: This paper enables the decision makers to review the guiding principles of
Corporate Governance for making proper decisions in relation to understand the necessary
parameters, and further more to utilize the models of corporate governance along with the model
proposed for CSR as primary tool for sustainable corporate growth and development.
Keywords: Improvement of Corporate Governance, Corporate Social Responsibilities, CSR
Models, Quality of Service, Business sustainability, Analytical Models.
Category: The paper is categorized to be a Research Paper
3. 1. Introduction
Corporate Governance is not much of a vintage topic. The Securities and Exchange
Commission of Pakistan (SECP) is a regulatory body that regulates the corporate entities under the
company ordinance 1969 and SECP Act 1997. Special companies, like telecommunication
companies are regulated under Pakistan Telecommunication Authority (PTA) and the banks are
regulated under State Bank, asides the SECP supervision. Listed companies are regulated also by
Stock Exchanges of Pakistan. SECP took charge of Corporate Law in 1999, and took serious view
and considerations over the governing acts and principles of international corporate bodies.
Institute of Chartered Accountants of Pakistan (ICAP) took initial steps towards incorporating, and
developed a framework of good governance. The SECP, ICAP, Stock Exchanges and the Institute
of Cost and Management Accountants of Pakistan (ICMAP) created a committee, and sub-
committees, with the pledge to develop and draft the first Code of Corporate Governance in
Pakistan. On March 28th, 2002, the finalized draft of the Code was released by the SECP. This
Code of Corporate Governance is the compilation of good governance and combined code of good
practices. The compulsions included within the Code were made mandatory for all the companies
of Pakistan to abide by the rules and regulations set by SECP ([1] SECP, 2002).
After the efforts of SECP and the Corporate Governance Code developing committee
members, the perception acknowledged by the corporate culture and society of Pakistan, is well
conceived, perceived and understood as a legal framework and an applied liability over an
organization enforced by the government. Furthermore, resulting from the ambiguous and hideous
obligations implicated by the code has promoted as meant to be for paperwork only, and the
importance of Corporate Governance is neglected. This argument is justified as referred and
concluded by the survey of Corporate Governance Practices in Pakistan, conducted in 2007 by the
collaboration of IFC (International Finance Corporation), ACCA (Association of Chartered
Certified Accountants), PICG (Pakistan Institute of Corporate Governance) and SECP ([2] ACCA,
2007). Due to this reason, the popularity of Corporate Governance structure and culture is being
less promoted, and the companies are not taking favorable advantages from it, resulting in the poor
fiscal stature of the corporate sector of Pakistan.
The company incorporated, named Technology Nucleus (Pvt.) Ltd. (as discussed in the
research methodology), from the day of its promotion to incorporation, and from incorporation to a
proper business flow, the problems faced and tackled during this process and the analysis made
through the rigorous study and surveys have devised a formal conclusion that the regulatory bodies
are victim of poor Quality of Service (QoS). For this reason, as mentioned before, the economic
crisis is sweeping away the corporal stability in Pakistan. The regulatory bodies on producing the
Code of Corporate Governance should have launched and worked out the training workshops for
the Board of Directors of the companies of Pakistan the interest of the shareholders is being catered
for, but the concern of management, employees and the society is also observed. Hence, this results
in a swift and durable success of a corporate, and is proven by concluding in our research using the
competitive models of Corporate Governance and Corporate Social Responsibilities. These models
are step-wise progressive tools from a company’s incorporation leading to a smooth business-flow
to success, and can serve as a benchmark for existing and newly emerging corporate.
In this perspective, the concept and purpose of the paper is to propose the idea and a
functional model to identify and rectify the basic parameters involved in Corporate Governance,
providing ease to understand the importance with improvement methodology to cater the issues
faced by the corporate sector. Defining the four pillars and structural constituents of Corporate
Governance and establishing the essential bond with Corporate Social Responsibilities, as a vital
tool for improving the administrative body.
The analytical tool for proper and improper implementation of CSR, as proposed in our
previous research on CSR Modeling and Implementation ([4] Arfi and Mirza, 2008), was
mentioned with addressing the purely society’s issues, such as education, natural disasters etc. Now
this model has been proved to be adaptive, that it is as much effective for the social and ethical
culture within the corporate as for outside the corporate. The budget distribution in this proposed
model will be more effective for corporal business elevation and growth.
4. 2. Highlighting the Culture of Corporate Governance
The highlights specified here are related to the results of the surveys conducted in 2007 by
the above mentioned organizations ([2] ACCA, 2007). The survey has been conducted in Pakistan
and on International basis also. Among the respondents from surveys, none of them have devised
any such code for Corporate Governance, and up to 82% of them impose the idea for the only
benefit of Corporate Governance implementation is as compliance with the legal and regulatory
requirements. About 98% of the respondents have stated they complied with the code of Corporate
Governance.
A CEO of a family-owned business stated, “Do I have an option, but to consider the
Corporate Governance very important? The SECP wants it to be very important. If I do not think
corporate governance is important, I might end up in jail and my company will be de-listed and I
will go out of business” (Chief Executive of a Family Owned Business [2] ACCA, 2007). Among
the top-listed 1,000 UK companies, as surveyed by ACCA, 62% respondents considered corporate
governance to be a system by which companies are intended for and controlled. But only 1% of the
respondents considered corporate governance to be compliance with legal and regulatory
requirements, unlike Pakistan where (as mentioned) 82% think opposite to it ([2] ACCA, 2007).
3. Broader Perspective of Corporate Governance and CSR
The practical incorporation of a company, surveys and on discussions with the corporate
officials, helped in developing the models of Corporate Governance leading to success of any
corporate. Among all the milestones and prerequisites for accomplishment, the most important of
them is Corporate Social Responsibilities but any corporate cannot integrate CSR from its birth
date. Unless the stages of Financial and Operational are in cycle to throttle the ample amount of
business to work and return on society through CSR. On the survey conducted by ACCA in UK,
none of the respondents mixed Corporate Governance with CSR ([3] Moxey, P., 2004). In Pakistan,
about 31% of the respondents believed Corporate Governance to be same as CSR. Although both
are different, but in the wider scenario of Corporate Governance, one could go still further to bring
about the social and cultural norms of the society, as mentioned by Kenneth Scott of Stanford
Law School ([1] SECP, 2002). In this context, we can utilize the concept of CSR as an ingredient
of Corporate Governance. The broader perspective of CSR is the improvement and betterment of
the society, which is achieved by applying the care and concern concept of CSR on the employees
and managerial staff, as being the vital part of the society. This in return generates sustainability
and productive results for any corporate to provide beneficiary input to the society.
4. Corporate Governance Pyramid (CGP) Model
After the study and initial research conducted, the pillars of Corporate Governance are
devised as Legal, Financial, Operational and Social aspects. All the aspects will be discussed in
detail, with their significance and relationship towards Corporate Governance. This model can be
further granulized. This is a bottom to top methodology, where every next step of the model is
attained through the base step. After much cyclic operation, their inter-dependency on each other
grows prominently.
5. Figure 1: Corporate Governance Pyramid (CGP) Model
4.1. Legal-
The first pillar, being the Legal part, covers the compliance to the law and code of
Corporate Governance by the regulatory authorities. This includes many factors; such as law for
incorporation, appointment and selection of directors, CEO, company secretaries, auditors, legal
advisors etc. compliance would also be established after first cycle through proper reporting about
companies’ operations to regulatory authorities, tax returns, annual statements and annual reports
etc., all the mentioned can be summed up as Legal Corporal Requirements. The company business
may end up with jurisdiction applied on the business owner and directors, if these legalities are not
fulfilled according to the law. So, this pillar is mandatory and establishes the very first step towards
Corporate Governance.
4.2. Financial-
After fulfilling the legal requirements comes the decision-making phase of financial
management, and companies economic growth is catered for by the company’s CFO or related
staff. Proper auditing procedures are involved in this step, which is also a legal obligation
(overlapped with the first step). This step also involves the planning on selection of company’s
future operations and business directions. This should lead to maximum financial stability of the
company. The early portion of financial step is devised through initial investment by shareholders,
and all these preliminary decisions are made through this share of investment. Afterwards, the
company’s circuit of profits is established for future operations and the cycle of financial
management grows firm to conduct more business.
4.3. Operational-
Operations include business planning, controlling, decision-making, reporting, human
resource management and other managerial factors necessary to conduct business efficiently. This
cycle of operations conform to the financial and managerial stability and strength of the business,
as the loop goes on and on. The managerial and directorial staff from bottom to top is the key
success factor on company’s potency and competency. The financial stature depends on the
operational outputs, and the operational outputs depend on the workforce of the employees. Better
the fiscal conditions better are the chances of improved operations. These three factors of finance,
operations and workforce are interrelated on the basis of corporal functioning.
4.4. Social-
The main purpose of any corporate is to two-fold the shareholders’ investment. Until the
time is achieved when the company is able to generate enough profits to satisfy the shareholders
and the business requirements, no corporation can easily apply CSR. It is necessary to have enough
profit to serve the society, but not on the stake of company’s operational deeds. On the other hand,
the corporal staff is also a part of society. Improving their working environment and taking care of
their needs and bare necessities is mandatory for good governance and falls under the early
mandatory steps of CSR. All the parts of the above mentioned system of corporate governance lead
to business elevation on proper application of the major and minor governing aspects. The second
step on this issue will be returning benefits and helping the society by working for its development.
The society’s fiscal situation itself improves when the corporate sector adds in to it. Resulting from
this, the corporate itself grows sustainable subject to the sustainable progress of the society. Hence,
the promotion of the company’s status and achievement of appreciation towards the products
produced, and a strong customer relationship established on the basis of social, moral and ethical
values is the by-product.
5. Corporate Governance – Decagon Model (CG-Decagon Model)
Above mentioned do the fundamental steps of Corporate Goverrnance, which do the bases
of developing the Corporate Governance- Decagon Model (CG-Decagon Model), comprising the
ten (10) essential parameters. This model helps in defining and deriving the further aspects and the
6. pointers of Corporate Governance, with the consideration of steps widely ranging from a corporate
promotion to a successful business flow. The priorities of the essential aspects of governance vary
with the corporal phases, such as promotion, incorporation and steady operations etc. If these
priorities are neglected and small corporate are operated with heavy governance rules and
regulations and vice versa, the corporate may face termination. The CG- Decagon model highlights
the increasing complexity of the governance according to the corporal phases. The CG- Decagon
involves:
• Promoters’ Role
• Formation of Incorporation
• Directors’ Role
• Financial Aspects
• Resource Allocation
• Operations
• Reporting and Communication
• Business Development
• Accountability
• Social Responsibilities
For starting a business from scratch, a strong business idea, the team workforce of
promoters, their capacity according to the business-type considerations and capability of reaching
the markup, the willingness, commitment and consent, the leadership qualities and up to the mark
business feasibility decides and engraves the success of the business from day one. The decision-
making and planning should cater for the initial business strategy to the exit policies covering all
the necessary parameters in view. After setting the promotion phase, the governance up till the
phase of incorporation should only cover and meet the legal requirements related towards the
company’s incorporation. Later on, after appointing the directors, they carry on with the policy-
making and decision-making which does reflect the future of the corporate governance and forecast
the success in future. The eligibility, ethical conduct, successive planning, business expertise,
competitiveness and having promoter’s characteristics of directors are the prime obligations. The
resource allocation certifies the smooth company operations and productive results. Cost-benefit
analysis, organizational collaborations, time and assets management and contract management etc.
are key factors among them. Up to this level, by the proper running cycle of the company and
involvement of the staff, increases the intricacy level in the corporate governance. Here comes the
important role of the top-level management to introduce regular reporting about operations and
providing a proper and sound medium of communication among the workforce employed.
Another important factor is the business development, which can fit in and preserve its identity at
any phase of corporal emergence. This is also necessary in the view that the business development
plays a vital role from the start of company to get successfully in business operations. Relationships
management, diversity of business areas, growth control, think-tank development, geographical
considerations, risk analysis and management and cyclic improvements etc. are the core indicators
involved in business development. The process of business flow for the success needs a platform of
proper and a strong accountability environment, meaning more than just appointing an auditor to
do the job during the incorporation phase at the start. This stand covers the corruption control,
company-person independency, avoiding conflicts of interests, the lingual, sexual and racial
discrimination control, decision-making irrespective of blood relations etc. The loading effect of
imposing the corporate governance rules are mentioned here step-wise to minimize such an effect
which depraves the governing principles as a congested job, and in return the benefit of corporate
governance offered is two-fold.
The foremost indispensable factor for company’s ultimate success, after the top-level
managerial competency, is the employees, including the lower-level management, workers and
official staff; reason being the dependence of the proper business cycle, company’s product
promotion and projects’ completion and delivery. They are all the essential part of corporal society.
These working-class bodies are the ambassadors of the public. If the corporate is in the feasible
condition to invest for the positive development of the society, then this workforce within the
7. company deserve the first and the best part of it. These are the fundamental basis of introduction
and implementation of Corporate Social Responsibilities (CSR) within a corporate culture. The
advantage generated and projected will be the faith and loyalty of the staff with a strong sense of
empowerment. The goal of helping the society will be achieved and the fair chances of corporate
strength and growth will be magnified. Employee counseling, wisdom of speech, Mudarbah
contracts, motivation / mobilization / encouragement, rewarding on achievement (such as security,
housing, medical etc.), allowances and bonuses, therapeutic and psychological analysis with
treatments, employee welfare services and recreational activities and safeguarding the employee’s
self-respect are the important factors adding to the Corporate Social Responsibilities (CSR) within
a corporate sector.
Figure 2: Corporate Governance- Decagon (CG- Decagon) Model
These pointers are dependent on each other on every other basis involved. The whole cyclic
order may vary to some extent depending on the business composition, but as far as the business
success and proceeding to achievements is concerned, the study shows that CSR pointers
mentioned here are same and important for any business formation on grounds. The strength and
sustainability is achieved on proper application of CSR within the corporate, by enhancing the
ethical and moral conduct. This model best suits the private companies which are about to start
or being at early stages, and also for the private companies switching to the public sector.
And this model is as much beneficiary towards the public sector if included the following
models, to strengthen the concept.
6. CGSMS (Corporate Governance - Spiral Model of Success)
CGSMS (Corporate Governance - Spiral Model of Success) is used to enhance the
functional, organizational, social, ethical and moral values of a corporate, within the broader
perspective of Corporate Social Responsibility. All the rules applied can set essential marks
globally as a new concept on rectifying Corporate Governance with a completely new idea. The
pointers derived for establishing the Spiral Model of Corporate Governance are extracted and
justified on the basis from legal to social aspects and all the governing rules and principles with the
applied organizational team and workforce factors. On this research, up to one hundred (100) points
of effecting the role of Corporate Governance have been projected which are vital and prominent
8. fractions within a corporate, and necessary from promoting, incorporating, running and ruling in
the business sector. These points can be increased and more ideas can be brought forward.
The indicators mentioned on the CG- Spiral Model are derived from the ten (10) parameters
of CG- Decagon Model, and it itself is an elaborated version of Decagon Model with the translation
of Corporate Social Responsibilities implying accomplishment. It is a self-explanatory model and
the parameters justified here are in the same step-wise manner as discussed in the previous model,
and the importance increases with the Spiral narrowing towards the centre towards the ultimate
success, proposed to be achieved.
Figure 3: Corporate Governance- Spiral Model of Success (CGSMS)
To be in the scope of the paper, only some of the important and essential parameters for
corporate success has been arranged on the spiral. The arrangement and the addition of parameters
is highly adaptive and and could vary from organization to organization and business type
considerations. The spiral only highlights the heirarchy towards success.
7. Arfi Proper and Improper OSR Model
This model was firstly presented and acknowledged at MEQA 2nd Annual Congress at
Dubai, 2008. It has been proposed that CSR be pronounced or evolve out to be Organizational
Social Responsibilities (OSR), and this model was created under the consideration to measure
proper and improper budgeting scheme of an organization’s social responsibilities department ([4]
Arfi and Mirza, 2008).
9. The fundamental indicators mentioned before, especialy related to improving socio-ethical
parameters, need proper investemnt. For example, arrangement for housing and medical for
employees and/or employee’s family, need proper budgeting plan. It has already been discussed
that once the corporate is on the smooth sail, having favorable financial conditions, should and
must get involved in dealing with this intensity of good governance. As many of the attributes been
disclosed, their importance and priorities are different for every other organization and budget must
be allocated on the basis of their priorities. For example, if a corporate needs to cater for three
different types of attributes, such as an employee’s housing, medical and training, then budgeting
will be dependent on the importance of these attributes accordingly to the corporate. Seemingly, if
many of the employees need to be trained, then the most share of budget should be allocated to this
indicator. Arfi Proper and Improper OSR Model utilized here as an analytical tool, which
generates automatically the proper budget allocation and/or compare the already allocated
budget and calculates its proper and improper impact. This model generates mentioned results
subjected to the provided percentage of the importance at the input. For the sake of ease, the
functional operation of the model is duly explained briefly. The model is based on weighted-
average principle.
The terminologies used here are explained in the model mentioned as a reference on the
subsequent page. If we, as an example, employ numbers to the previously perscribed attributes that
70% of employees require medical, 56% of them need housing and 7% necessitate training for the
sake of corporate interest. These percentages in original scenario are extracted from the corporal
records of the preceding years, with the effect of planning for the coming year. Coming back to the
model, the Attribute Percentages (AP) are justified as
AP 1 = 70%, AP 2 =56%, AP 3 = 7% … (1)
Smallest Value (SV) among attributes is
SV = AP 3 = 7% … (2)
Weight of Attribute Percentages is
W n = int (AP n / SV) … (3)
W 1 = 10, W 2 = 8, W 3 = 1 … (4)
N = W1 + W2 + W 3 = 19 … (5)
Calculated Budget Weights are shown in the equation below, which are significant as A, B and C
for the three mentioned attriutes
A = W 1 /N, B = W2 /N, C = W 3 /N … Z = Wn /N … (6)
A+B+C…Z=1 … (7)
A = 0.52, B = 0.42, C = 0.05 … (8)
The equation (8) shows that 52% of the total budget should be allocated to providing medical
reqirements of the employees, 42% should go for the favor of housing and 5% should be reserved
for training. For the calculation of the proper and improper impact factor, one should consult the
previous research version [4] on CSR, discussing the in-depth analysis and calculating parameters
used for applying Arfi Proper and Improper OSR Model.
This model is currently being implemented at NESPAK (Pvt.) Limited, at initial stages to
produce practical results over for a certain period. NESPAK (National Engineering Services
Pakistan) (Pvt.) Ltd. Is Pakistan’s premier consultancy organization. Its international stature is well
established and it enjoys the reputation of being one of the top engineering consultancy
organizations in Asia and Africa and is ranked amongst the world’s top 200 consulting firms ([5]
NESPAK, 2009).
10. l
Figure 4: Arfi Proper and Improper OSR Model
11. 8. Conclusion
The improvements in corporate governance within the corporate sector are in process, but
still this concept is taken as a hurdle and a compelling phenomenon among the general public. The
regulatory authorities need to play their cards by educating and providing training on proper
governance rules and regulations. The models mentioned above provide a whole new inspiration
and impression of good governance devised in a proper step-by-step fashion to mitigate the
loading-effect perception, and two-folds the outcome. The concept of CSR to be used as a tool for
improving the governance stature and structure is basically to highlight the observable fact of
dealing with the society in the way of helping and providing them a good livelihood, which in
return generates the successive mark up of the business promotion and sustainability in the market
(as mentioned in CG- Spiral Model). The CG-Pyramid Model, in its nature is a conceptual
presentation of corporate governance pillars with the step wise procedural representation of
governance burden in any corporate with the use of CG-Decagon Model for getting maximum out
of the efforts. The CG-SMS may serve as a guiding principle for growing corporate and manifold
the outputs for all corporate considerations when used with “Arfi Proper and Improper OSR Model
due to its applied nature. The Arfi OSR Model, being an adaptive analytical budgeting analysis
tool; is as much beneficial for the corporal workforce and staff within the company, as it is for the
general society.
9. References
[1] SECP (2002), Manual of Corporate Governance,
Securities and Exchange Commission of Pakistan (SECP)
www.secp.gov.pk
[2] ACCA Pakistan (2007), A Survey of Corporate Governance Practices in Pakistan 2007,
Commissioned and edited by IFC, SECP and PICG.
[3] Moxey, P. (2004) Corporate Governance and Wealth Creation,
ACCA Occasional Research Paper No. 37
[4] Umer Arfi, H. M. and Mirza, Fahad M. (2008), “CSR, AN OVERALL SYSTEM DESIGN
AND EFFECT OF ITS PROPER AND IMPROPER IMPLEMENTATION ON
ORGANIZATIONS”, Proceedings of MEQA 2nd Annual Congress, Dubai, April 7-9, 2008.
[5] National Engineering Services Pakistan (NESPAK), Introduction to NESPAK,
Available at: http://www.nespak.com.pk/about/intro.asp (accessed 12 May 2009).