Lecture on cg nirc icsi

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  • 1. Corporate Excellence through Corporate Governance Pavan Kumar Vijay Immediate Past President, ICSI MD, Corporate Professionals
  • 2.
    • Corporate Governance rests with the Vision and Perception of the Leadership
  • 3.
    • and
    • A Leader need to adopt a
    • Vision for Corporate Governance
  • 4. The Institute of Company Secretaries of India Corporate Governance is the adherence to ethical standards for effective management and distribution of wealth and discharge of social responsibility Corporate Governance application of best management practices, compliance of law in letter and spirit and for sustainable development of all stakeholders
  • 5. Corporate Governance Framework Output Input = Wealth Created ? Sustainability Happiness and Prosperity of all Stakeholders Reinvestment Distribu- tion
    • Research and
    • Development
    • HR Development
    • Infrastructure
    • Risk Management
    • SUPPLIERS
    • Adequate Returns
    • HUMAN ASSETS
    • Adequate
    • Remuneration
    • CUSTOMERS
    • Affordable Prices
    • PUBLIC
    • Payment of Taxes and Partnership in National Development Projects
    Wealth Creation Wealth Management Wealth Sharing Enhanced Capabilities Best Management Practices are Vital Here Law and Ethics are Vital Here
  • 6. Stakeholders in Value Chain SUPPLIERS CUSTOMERS HUMAN RESOURCE Supply Funds, Materials and Services Value Addition and Management of Resources Give Opportunity to Co. to Satisfy their Needs Adequate Returns for Funds, Material and Services Supplied Adequate Salary and Security for leading a Happy Life Best Quality Products and Customer Care at Minimum Prices ROLE OF STAKEHOLDERS EXPECTATIONS OF STAKEHOLDERS Potential Suppliers, Human Resources and Customers Biological, Economic and Cultural Environment PUBLIC PUBLIC EXPECTS PARTNERHIP FOR SUSTAINABLE DEVELOPMENT
  • 7. Principles of Corporate Excellence Fairness to all stakeholders Mutual Trust, Transparency and Togetherness Unrestricted Communication and Continuous Feedback Sharing Knowledge, Success Stories and Experience Sharing Happiness and Concerns Helping Each Other Round the Clock
  • 8. Infact, these principles are the foundation of Best Governed Organisations irrespective of their form and size
  • 9.
    • Advantages of applying
    • Best Corporate Governance Practices
  • 10.
    • Growth
    Growing Revenues Growing Profits Growing Market Value
  • 11.
    • Widespread Goodwill and Brand Reputation
    Access to Global Markets Better Access to Human Capital Ready Market for New Products Widening Customer Base
  • 12.
    • Enhanced Trust and Confidence of all Stakeholders
    EMPLOYEES INVESTORS CUSTOMERS SUPPLIERS GOVERNMENT AND REGULATORS SOCIETY
  • 13.
    • Leading to
  • 14. Environment Civil Society Business Society SUSTAINABLE DEVELOPMENT
  • 15.
    • Commitment to well-being and progress of all stakeholders is our age old mantra
  • 16. Satyam Vada Dharmam Chara - Taittariya Upanishad
  • 17.
    • Forever speak the truth and follow the dharma
  • 18.
    • Truth : Disclosure of Actual State of Affairs (Transparency in operations and transactions)
  • 19.
    • Dharma : Dharma is for the stability of society, the maintenance of social order and the general well-being and progress of humankind .
    • - Karna Parva of the Mahabharata. Verse-58 in Chapter 69
  • 20. Governance Concept in Ramayana
    • To provide the maximum happiness for the maximum number of people for the maximum period, based on the principles of Dharma righteousness and moral values.
    - Ayodhya Kand
  • 21.
    • The Customer is King
    - Mahatma Gandhi
  • 22.
    • This is the soul behind modern
    • Marketing Management
  • 23. Worshipping 33 Crore Godheads signifying various species, plants, cosmic elements,
  • 24.
    • Care for Panchtatvas - Prithvi , Jal , Vaayu , Akaash and Agni that make a human being
  • 25.
    • This is our approach to
    • Environment Protection
  • 26. The four essential principles of Mahatma Gandhi's philosophy Truth , Ahimsa , Trusteeship and Constructive Action
  • 27.
    • Corporates are also expected to use their
    Capacity, Knowledge and Resources Maximisation of stakeholders value and well-being and progress of humankind TOWARDS THROUGH Transparency, accountability and truthful disclosure of state of affairs Dharma Truth
  • 28.
    • This is our own age old mantra of
    • Good Governance
  • 29.
    • Companies that have followed these
    • principles of
    • Corporate Governance
    • have
  • 30.
    • Consistently earned high returns,
    • increased their net worth and
    • enhanced their shareholders wealth
  • 31.
    • Invested significantly in proactive research and development
  • 32.
    • Developed people into achievers than just performers
  • 33.
    • Dealt ethically with customers, government and business partners
  • 34.