Beruflich Dokumente
Kultur Dokumente
Submitted to
Prof-Shweta Rode
Prepared By
Sachin Mishra 72 Shrikant GosaviGaurish Chaulkar-51 Haaris Baraskar-49 Ratnesh Waghmare-80
Transparency 10-1
- Ayodhya Kand
Transparency 10-2
Corporate Governance is the application of best management practices, Compliance of law in true letter and spirit and adherence to ethical standards for effective management and distribution of wealth and discharge of social responsibility for sustainable development of all stakeholders. -The Institute of Company Secretaries of India
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Corporate governance is a set of system and process to ensure that a company is managed to suit the best interest of all stakeholders The stakeholders may be promoters, members, workmen, executives, shareholders, customers, lenders, vendors, bankers, community government and regulator
It is a system of making management accountable to the stakeholders
Transparency 10-4
2)
Impact of Globalization
Integration with Foreign Market Foreign Investors expectations New Business Opportunities --- IT & ITES, BPO etc., New Capital formation FII, FDI
3)
Impact of Privatisation
New structure of ownership Multinational Companies
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The principle objective of good corporate governance is to enhance the value of shareholder. Corporate governance focuses on:
1. Building a structure and rules to govern a company board of director. 2. Creating independent audit committees made up of enterprise's board members 3. Ensuring disclosures of all relevant information to shareholders and creditors, including business risk analyses and
4. Controlling management
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Ethics refer to the code of conduct that guides the individual while dealing in the situation.
It relates to the social rules that influence people to be honest in dealing with other people.
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High standards of business ethics Right balance, knowledge and competence Information
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Cont
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Business Ethics
The value of what should be done and what should not be done from the business point of view.
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define relationships between a companys management, its board, shareholders and other stakeholders provide a structure through which the companys objectives are set, and how they are achieved and monitored recognize the value of business ethics and corporate awareness of society interests to reputation and long-term success
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Relationship
Business ethics and corporate governance are two significant factors that impact a company and how it operates. Business ethics represent the values, principles or characteristics that a company follows when conducting business in the economy. Corporate governance is the internal framework that a company designs and implements to govern and protect those invested into the company. The relationship between ethics and governance comes from an organizations owner or executive managers, who create the governance and decide which ethical principles employees will follow
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The elements of corporate governance, inter-relationship between business ethics and corporate governance with reference to some of the Indian companies
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CONCLUSIONS
We need to do is to apply the principles of good governance to the whole corporation. This could be described as: "looking at Management through Corporate Governance-tinted glasses" i.e. taking a fresh look at management structure taking into account all interested parties and ensuring all the necessary monitoring and controls are in place to ensure that shareholder value is always at the forefront.
Transparency 10-18
CONCLUSIONS
"Effective corporate governance ensures that long-term strategic objectives and plans are established, and that the proper management and management structure are in place to achieve those objectives, while at the same time making sure that the structure functions to maintain the corporations integrity, reputation, and accountability to its relevant constituencies."
Transparency 10-19