1. Sample Assignment
Jan-June 2016 MS-91
Course Code MS - 91
Course Title Advanced Strategic Management
Assignment Code MS-91/TMA/SEM - I/2016
Assignment Coverage All Blocks
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School of Management Studies
INDIRA GANDHI NATIONAL OPEN UNIVERSITY
MAIDAN GARHI, NEW DELHI – 110 068
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1. Describe the concept of corporate planning. Discuss the implementation of corporate planning in detail.
Concept of corporate planning-
Corporate planning defines the strategies that the employees will take to meet the business’ --------------------------------------------
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-------------------------------------------------------------------------------------------------------------- train employees and achieve
accomplishments. Corporate planning also provides specific, measurable goals with realistic time lines.
Corporate planning is --------------------------------------------------------------------------------------------------------------------------------
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--------------------------plan.
Effective planning requires gathering data about the projected growth of the industry and information about competitors -- their
strengths, weaknesses and the strategies they are deploying. The small business owner also must identify the best opportunities for
his company to pursue. --------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------- company, which may
include revenue targets and productivity goals such as the gross margin percentage he intends to achieve. The next step is
designing strategies and action plans -- the specific steps the owner and his team will take to reach company goals.
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A variety of analytical tools and techniques are used in strategic (corporate) planning or corporate planning. These were
developed by companies and management consulting firms to help provide a framework for strategic planning. Such tools include:
-------------------, which covers the remote external environment elements such as political, economic, social and
technological (----------------------------------------------------------------------);
Scenario planning, ------------------------------------------------------------------------------------------ analyze future scenarios;
---------------------------------------------, which addresses industry attractiveness and rivalry through the bargaining power
of buyers and suppliers ----------------------------------------------------------- market entrants;
----------------------, which addresses internal ------------------------------------------- to the external opportunities and threats;
Growth-share matrix, which ------------------------------------------------------------------------------------- or divest; and
Balanced Scorecards and strategy maps, ---------------------------------------------------------------- controlling strategy.
3. The Nine Steps to Success(TM) - ------------------------------------------------------------------ Planning and Management.
Implementation of corporate planning-
----------------------------------------------------------
----------------------------------------------------------------------- process. Under this, the organization's top management sits down to
formulate policies and strategies and communicate them downward for implementation.
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Once the mission statement is prepared, the organization next chalks out its objectives. These are tangible and measurable targets
the organization is aiming to achieve. ---------------------------------------------- growth and make necessary corrections.
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After the establishment of objectives, the organization -------------------------------------------------------------------------------------------
--------------------------------------------. The changes in the environment provide newer ways to reach them. The organization
conducts an environmental scan to assess available opportunities and identify its limitations and capabilities.
Two types of environmental ---------------------------------------------------. External analysis comprises macro and micro aspects.
Macro environment analysis ---------------------------------------------------------------------------------------------. Micro environment
analysis is the study of the industry in which the firm operates or is considering operating in.
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With the external and internal analysis, the --------------------------------------------------------------------------------------- and
weaknesses (internal environment analysis) and analyzing the opportunities and threats (external environment analysis).
Strategy Formulation and Implementation
After analysis of the firm and the environment in which it operates, the strategies are then formulated. Three generic strategies that
are considered while formulating strategy are cost leadership, differentiation and focus. Only one of the three should be used for
any product.
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The implemented strategies are continuously considered and appraised. Modifications are made from time to time to avoid
deviations on the plan. --------------------------------------------------------------------------- action is taken to guarantee success.
Evaluation-
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Thus, corporate planning is very important for an organization and helps in the overall development and growth. A sound
planning provides satisfaction to the employees in terms of working conditions, culture, authority, responsibility and relationships.
Example-
The Board of Directors (the "Board") and the senior management of Reliance Capital Limited ("Reliance Capital") subscribe --
---------------------------------------------------------------------------------------------------------------. They would:
4. 1. --------------------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------- to that office
2. Act honestly ----------------------------------------------------------------------------------------------------------------------------------
Reliance Capital as a whole
3. Not make ----------------------------------------------------------------------------------------------------------------- as a Director
4. Not -------------------------------------------------------------------------------------------------------------------------------- Capital
5. ------------------------------------------------------------------------------------------------------------ upon Reliance Capital
6. Be ----------------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------- of all decisions taken by the Board of Directors
7. Ensure the confidentiality of information they ------------------------------------------------------------------------------------------
----------------------------------------------------------- from whom the information is provided, or as required by law
Besides, the Code of Ethics, all ----------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------- positions and executives in senior management.
2. Discuss the nature and scope of corporate management and its role in non-business organizations,
giving examples.
Nature and scope of corporate management-
Business management is the guiding force that oversees employees, projects and production in a business. Corporate
management refers to all ----------------------------------------------------------------------------------------------------------------------------
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------------------------------, finance, legal and executive areas.
------------------------------------------------------------------
The following aspects are important in this regard
(i) ----------------------------------------------------------------- process.
(ii) It is ---------------------------------------------------------------------------------------------------------------------------------------------------
, mobilization of resources and deployment of resources for attainment of goals.
(iii) It ----------------------------------------------------------------- term
(iv) It is related to -------------------------------------------------, are related to top management
Scope of Corporate management
The term corporate management is an extension of the term corporate planning and also includes implementation and control
aspects. More specifically, the scope of corporate management is narrated as below: spread over different areas. They are as
follows:
1. Role ------------------------------------------------------------------ governance
2. Code of -------------------------------------------------------------------------------- committee
3. Competitive ----------------------------------------------------- markets
5. 4. --------------------------------------------------------------------------------------- and innovations
5. Corporate ------------------------------------------------------------------------------------------- social audit
Corporate Management is both an -----------------------------------------------------------------------------------------------------------------
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-----------------------------------------. It offers a strategic direction endorsed by the team and stakeholders, a clear business strategy
and vision for the future, a method for accountability, and a ------------------------------------------------------------------------------------
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----------------------------------------------------------------------, the capability to exploit opportunities and react to external change by
taking ongoing strategic decisions.
Role in non-business organizations-
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Corporate management is charged with the allocation and management of business resources. -------------------------------------------
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---------------------------------------------------------------------------------------------------------------and maximizing the use of available
resources is one of the most pressing requirements of corporate leadership.
Policy Formulation
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the business. Policy formulation is especially significant for large corporations with multiple locations.
Finance
Corporate managers establish budgets and financial projections for the business. Managers also work to maintain spending and
expenses within budgetary guidelines. The level of financial responsibility and duties is largely tied to the specific function a
corporate manager fulfills. For example, ----------------------------------------------------------------------------------------------------------
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Control
Corporate managers establish control within a -----------------------------------------------------------------------------------------------------
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----------------------------------------------------- plans or objectives.
Corporate Management in Non-Profit Organizations (With Example)
In contrast, a non-profit -------------------------------------------------------------------------------------------------------------------------------
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------------------------conform to those purposes.
6. One component of ------------------------------------------------------------------------------------------. Non-profits' lack of free-flowing
capital means they rarely have the resources to staff the organization sufficiently. In this scenario, managers often reach out to
individuals ----------------------------------------------------------------------------------- or volunteer hours. Managing volunteers is
different than --------------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------. This means managers
must motivate by community-building and a sense of shared accomplishment.
3. “Different market structures have different viewpoints with respect to competition”. Explain the
statement with respect to market structures and sustainable competitive advantage.
Market structure is best defined as ----------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------ too much emphasis
simply on the market share of the existing firms in an industry.
Market structures are distinguished -------------------------------------------------------------------------- operating in the market.
As well as considering -------------------------------------------------------------------------------, their performance, and the level
of contestability in the market.
A market might have an uncompetitive -------------------------------------------------------------------------------------------------- of firms
might be highly competitive, as is the case ----------------------------------- sector.
According to Jevons, “--------------------------------------------------------------------------------------------- business relations and carry
on extensive transactions in any commodity.”
In the words of Benham---------------------------------------------------------------------------------------------- directly or through dealers,
that the price obtainable in one part of the market affects the prices paid in other parts.”
Classification of Market Structure
As there are lot ------------------------------------------------------------------------------------------------------- the particular market
structure in the economy. If we try to explore that individually it might not crystallize our concept.
Thus, let’s ----------------------------------------------------- structures –
7. From the above ----------------------------------------------------------------------------------------------- certain power over the market.
However if we consider the gradual increase of competition from least to maximum, we will come up to the following conclusions
–
Types Of Market Structures-
The term market ----------------------------------------------------------------------------------------------------------------------------------------
---------------------------------------- that industry and the amount of information available concerning that industry.
--------------- - A monopoly exists when only one supplier has control over an entire market for a particular good or service.
Examples of monopoly in Caribbean countries are a ---------------------------------------------------------------------------------------------
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----------------------------------------------------------in obtaining strategic raw materials or information regarding business operation.
The monopolist has great market power and can therefore set the price of products sold in the market.
------------------- - -------- describes a market structure in which there are few large firms. They offer the same product for sale
and compete aggressively for market dominance. Examples of --------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------- costs are very high, there
is control of strategic raw material and information is not easily available.
Perfect Competition - This market structure is characterized by many buyers and many sellers of a product. The product is not
unique as it is available from many sellers----------------------------------------------------------------------------------------------------------
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business and there are no barriers of high start-up cost and control of strategic raw materials.
--------------------------------- - Similar to perfect competition this market structure involves many sellers. However, this market
structure differs from ----------------------------------------------------------------------------------------------------------------------------------
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---------------------------------------------- raw material, very high start –up cost and lack of information.
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MARKET STRUCTURES AND SUSTAINABLE COMPETITIVE ADVANTAGE-
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In the short run, a firm’s competitiveness derives from pricing or application attributes of the products but in the long run, a firm’s
competitiveness derives from its ability -------------------------------------------------------------------------------------------------------------
8. ---------------------------------------------------------------------------------------------------- technologies and processes into competencies
that provide a solid ground to the individual business so that it could adapt quickly to the ever changing opportunities.
Core competence has been ------------------------------------------------------------------------------- products, markets, management,
organisational setup and technology in the complex and dynamic environment.
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A core competence is one that provides access to various markets. For example, -----------------------------------------------------------
------------------------------------------------------------------------------------------------ other business.
A core competence ------------------------------------------------------------------------------------- of the end product.
A core -----------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------- but it will not be easier to
duplicate monopolist’s pattern of internal coordination.
In a -------------------------------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------, and in this market structure firms are price takers. Examples include ----------------
-------------------------------------------------------------------------------------------.
Advantages-
There is --------------------------------------- of competition
The consumer benefits
---------------------------------------------------
----------------------------------------- (i.e. over time)
Firms ----------------------------------------------
The law of supply and demand has many advantages when a company enjoys freedom from competition. Because a monopoly has
price elasticity, and control over supply.
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In any market, sustainable competitive advantage plays a major role and core competencies are nurtured so as to meet the
turbulent environment and improve and grow by grabbing the right opportunity at the right time.
4. Discuss the issues and challenges in knowledge management in the present competitive environment.
Knowledge management (KM) is the process of capturing, developing, sharing, and effectively using
organizational knowledge. It refers to a multi-disciplinary approach to achieving organizational objectives by making the best use
of knowledge.
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Many large companies, public institutions and non-profit ---------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------- departments. Several
consulting companies provide strategy and advice regarding KM to these organisations.
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Challenges in knowledge management in the present competitive environment
In its basic form, knowledge management is about converting available raw data into understandable information. The
information is then placed in a ------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------- problems, projects and deployment driving towards productivity.
But, -------------------------------------------------------------------------------------------------------- synthesis between the people and
the information to the point that the whole is more than the sum of the parts.
1.------------------. Providing the right level of security for knowledge management is key. --------------------------
----------------------------------------------------------------------- easy access to those with the proper credentials.
2.------------------------------------------. Overcoming organizational culture challenges and developing a culture
that embraces learning, sharing, changing, improving can’t be done with technology. There is no use in
launching a tool if there is no drive to share the knowledge.
3.Keeping up with technology. -----------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------ how to be smart, quick, agile
and responsive – all things a KM tool must be able to accomplish.
4.---------------------------------. Knowledge is not something that can be -------------------------------------------------
----------------------------------------------------------------------------------------------------. The focus should be
on shared purpose rather than results or efforts.
5.Overcoming shared leadership. -------------------------------------------------------------------------------------------
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-------------------------------------------------------------------- internal conflict.
10. 6.------------------------------------------------------------------------------------------------- to be validated before being
harvested and distributed. Keeping information current by eliminating wrong or old ideas is a constant
battle.
7.-------------------------------------------------------------------------------------------------------------- or standardized in
order to be meaningful to someone else in the organization.
8.Making sure information is relevant. ------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------. Data
relevancy means avoiding overloading users with unnecessary data.
9.-------------------------------------------------------------------------------------------------------------? This decision
will determine what drives your knowledge sharing initiative and who will be responsible for maintaining
the community.
10. ------------------------------------------------------------ contribute to a knowledge database will not only
encourage them to continue contributing, but will also encourage other users to join.
For a successful implementation of Knowledge Management, a right culture is essential. People often don’t adopt the change with
various reasons thus the entire initiative goes in jeopardy.
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While currency always relate to pounds or dollars, what it means in the world or KM and how essential it is along with the other
factors like Technological Revolution and Measurement is worth to understand too!
Examples where Knowledge Management can offer greatest benefit
KM is beneficial --------------------------------------------------------------------------------------------- could provide great benefits:
Social (Governmental)
1. -------------------------------- disasters
2. -------------------------------------------
3. Research and education
Business
1. Research and Development – -------------------------------------------
2. --------------------------------------- by allowing easier access to past design documents, best practices and better designs become
available, faster, ----------------------------------------- edge for the organization
3. ------------------------------------------------------------------------------------- practices and add to product quality
4. Cultural Change- from striving to ----------------------------------------------------, in addition to create new ideas and objects.
11. 5. Select any service organization of your choice and explain how Information Technology has enhanced
the quality of service of this organization.
In nowadays top leaders fully realize the power of information technology (IT) for reaching business targets. The utilization of IT
help not only to fulfill defined ------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------- the IT in strategic management i.e. to
accomplish assigned HR tasks by using the source of IT capabilities.
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Human resource processes should be focused on the strategic objectives. These strategies are led to prepare an IT strategic plan
that in turn translates into an appropriate human resource strategic plan in the field of IT as the Figure below depicts-
-----------------------------------------------------
Technology's recent evolution has created several opportunities for organizations to improve their performance and achieve their
goals. Organizations have been trying to -----------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------- of technology, as well as on challenges faced in managing
technology and, most significantly, in aligning it with business strategy and leading the organization to business success.
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IMPORTANCE OF TECHNOLOGY TO BUSINESS SUCCESS
In a global market where information flows rapidly, -------------------------------------------------------------------------------------
products and services, operations and processes, companies and even competition.
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Having identified the importance of technology, managers should take actions of managing technology and adding value to their
organizations. In this sense, contemporary organizations, and especially large corporations, invest huge capitals on the
implementation of technology over the last decades, for example -----------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------. In general, apart
from achieving their goals, all the organizations need to focus on their customers' needs. Leading companies in the market take
initiatives by using technology ---------------------------------------------------------------------------------------------------------------------
12. power of the Internet (including social networking) has forced many companies to change their strategies with the aim of turning
this power to their advantage.
CHALLENGES IN MANAGING TECHNOLOGY
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The most significant of the aspects mentioned above is that technology initiatives should align with the overall business strategy;
organizations should use technology ----------------------------------------------------------------------------------------------------------------
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--------------------------------------- . As Bensaou and Earl comment, there are several examples of organizations that either
discovered that their technology did not support their business strategies or selected complex technological solutions, instead of
simple ones that could be more effective.
To conclude, it is necessary to take all the aspects of technology into account, ---------------------------------------------------------------
----------------------------------------------------------------------- take initiatives and make the right choices, which reflect the
organization's strategy and can lead to business success.
ZARA CASE STUDY: LESS IS MORE (Example)
Zara is one of the largest international fashion ----------------------------------------------------------------------------------------------------
---------------------------------------------------------- investment that can deliver maximum value to the company. -------------------------
---------------------------------------------------------------------------------------------------------------------------- little information
technology (MacAfee, 2004). Zara focuses on the human factor instead of technology, allowing people to make all the decisions;
there are no CRM systems, no scheduling software and no --------------------------------------------------------------------------------------
---------------------------------------------------- distribution centers and the headquarters; computers are used in a limited and
standardized manner. Despite all these facts, ------------------------------------------------------------------------------------------------------
------------------------------------------------------- technology with the company's flexible business plan.
Assistance of IT in enhancing the competitiveness-
The important --------------------------------------------- and strategic planning working together.
-----------------------------------------------------------
Aligned with SOA approach, Sophisticated IT strategy is composed of IT Capability Model (ITCM) and IT Operating Model (IT-
OM) as proposed by Haloedscape IT Strategy Model.
Framework of (IT) technology strategy
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Typical structure of a (IT) technology strategy
The following are ---------------------------- strategy:
Executive Summary - This is a summary of the IT strategy
-------------------- benefits
13. ---------------------------------------------------------------
Approach and methodology of the engagement
Relationship ----------------------------------------------------
Resource summary
o -------------------------------
o Budgets
o -------------------------------------------------
Internal Capabilities
IT Project Portfolio Management - ------------------------------------------------- technology department and their status.
Note: It is not common to report current project --------------------------------------------------------. Show Return on
Investment (ROI) and timeline for implementing each application.
------------------------------------------------------------------------------ of resources required to support them
----------------------------------------------- of IT solutions
-------------------------------------------------------------------------
--------------------------------
--------------------------------- from outside the organization
------------------------------------------
o Example: ----------------------------------------------------------------------------- Ajax technology
o Example: Availability of ------------------------------------------------------- systems
-----------------------------------------------------
Opportunities
Description ----------------------------------------------------------------------------------------
o Example: List of ----------------------------------------------------------- projects
Description of how --------------------------------------------------------------------------------------------------------------------------
- the organization's ROI for technology p
-------------------------------
Description of --------------------------------------------------------------------------------------- or competitive
---------------------------------------------------------------------------------
IT Organization structure and Governance
--------------------------------------------
------------------------------------------
IT Governance
--------------------------------------------
List of monthly, quarterly or mid-year milestones and review dates to indicate if the strategy is on track
List milestone name, deliverables and metrics
Audience
------------------------------------------------------------------------------------------------------- in business planning within an organization.
It should be free of technical jargon and information technology acronyms.
The IT strategy should also be presented to or read by internal IT staff members. Many organizations circulate prior year versions
to internal IT staff members for feedback before new annual IT strategy plans are created.
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---------------------------------- organizations frequently have complex web site requirements such as web content management.
Presentation
14. The CIO, CTO or IT manager ------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------- in 5-7 slides and present the plan in under 30 minutes to a board of directors.
It is also common to produce a professionally bound booklet version of the strategy - something physical that IT teams can refer
to, rather than the more disposable presentation slides.
6. Write short notes:
a) Social Audit
Social Audit (----------------------------------------------------) is a process that collects information on the resources of an
organization. ------------------------------------------------------------------------------------ “Audit” is used, Social Auditing does not
merely consist in examining costs and finance – the central concern of a social audit is how resources are used for social
objectives.
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As one of India’s largest banking institutions, HDFC Bank ------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------- a world-class provider of wholesale and retail
financial services. SAS provides a broad range of analytics to help HDFC Bank make ----------------------------------------------------
------------------------------------------------------------ strict regulations.
In HDFC bank social audit is organized in to following parts:
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Produce information that is perceived to be evidence-based, accurate and impartial,
-------------------------------------------------------------------------------------------------------- of local services,
Improve ---------------------------------------------------------------------------------------------------,
---------------------------------------------------------------------------------------- corruption and mismanagement,
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-------------------------------------------------------------------------------------- help to prevent fraud by deterrence.
In general, ------------------------------------------------------------ following steps:
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b) Innovation and Creativity
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15. -------------------------------------------------------------------------------------------------------------------------------------------------------------
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The concepts of -----------------------------------------------------------------------------------------------------------------------------------------
--------------------------------------- of creativity focus on the nature of thought processes and intellectual activity used to generate
new insights or solutions to problems. Other definitions -----------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------- with regard to the different qualities
and outcomes of creative attempts.
Creativity as a context-specific evaluation can vary from one group, one organization and one culture to another and it can also
change over time. Evaluating creativity should, therefore, be considered at the level of a person, organization, industry, profession,
etc. (Ford, 1995). --------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------, services, processes and procedures by individuals or groups in a specific
organizational context.
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A second ------------------------------------------------------------------------------------------------------------------------------------------------
------------------------------ if they are on an expedition when plenty of time is awarded in order to achieve a goal. While under high
time pressure, managers should encourage workers to feel as if they are on a mission to discover a solution.
Lastly ----------------------------------------------------------------------------------------------------------------------------------------------------
-------------------------------. This will help motivate employees to continuously be thinking of creative and innovative ideas. A
previous post of mine describes more in depth the reasoning behind motivation.
Example-
IBM-
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According to the IBM 2010 Global CEO Study, ------------------------------------------------------------------------------------------------
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-------------------------------------------------------------------- “Creative leaders invite disruptive innovation, encourage others to drop
outdated approaches and take balanced risk.
They’re open-minded and inventive in --------------------------------------------------------------------------------------------------------------
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---------------------------------------------------------and customers.”
IBM Creative --------------------------------------------------------------------------------------------- between unacceptable alternatives. Instead,
they use the power inherent in these dualities to invent new assumptions and create new models geared to an ever-changing world .
16. =========================================================================================
c) Dynamic Environment
Generally dynamic environment is ----------------------------------------------------------------------------------------------------------------
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---------------------------------------------with growth in scale by orders of magnitude, caused by some of the factors mentioned
earlier. The essential characteristic of a dynamic environment is the --------------------------- pose a risk or provide an opportunity.
In either case it must be managed from the strategic management point of view.
Dynamic environment has a ---------------------------------------------------- to more stable industry environment. Related to the
presence of these companies is that of many spin-off --------------------------------- firms in the industry to create their own firms.
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different target markets with culturally relevant propositions. McDonald's is ----------------------------------- effectively reach a
diverse audience . Source: Boundless.
Proactive attention to the ----------------------------------------------- marketing in areas with the greatest customer potential. It is
important to place equal emphasis on both the macro and micro------------------------------------ to changes within them. Reactive
attention to the ----------------------------------------------t with potential customers and can allow competitors to gain advantages that
will win them a higher market share.
===========================================================================================
d) Narayana Murthy Committee
Committee was set up by SEBI --------------------------------------------- in February 2003,signifying regulators anxiety to
expeditiously -------------------------------------- in Indian companies.
The Committees term of reference was:
1. ------------------------------------------- corporate governance.
2. ------------------------------------------------------ other price sensitive information ----------------------------------------------.
The committee ----------------------------------------------------------------------------------- contained in Naresh Chandra
Committee report on following counts:
Key Recommendations ------------------------------------------------------------- Governance-
---------------------------------------------------: At least one member should be --------------------------------------
and at least one member ----------------------------------------------------------------------- proficiency.
Improving the quality of financial disclosures, including those related to related party transactions.
--------------------------------------------: Companies raising money through an -----------------------------------------
------ Committee, the uses / -------------------------------------------- like capital expenditure, -------------------------
-, working capital, etc.
------------------------------------- to assess and disclose business risks --------------------------- of companies.
---------------------------------------------- Board of a company to lay down the code ----------------------------------
members and senior management of a company.
The position of nominee directors: ---------------------------------------------------------- shall be similarly
elected and shall be subject to the same responsibilities and liabilities as other directors
17. Improved ----------------------------------------- to non-executive directors.
------------------------- include moving to a regime where ------------------------------------ are not qualified; instituting a
system of training of board -------------------------------- of board members.
Whistle Blower Policy: Personnel who observe an unethical or improper practice should be able to approach the audit
committee without necessarily informing their superiors.
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