6. 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 Fairness to all stakeholders Mutual Trust, Transparency and Togetherness Unrestricted Communication and Continuous Feedback Sharing Knowledge, Success Stories and Experience
7. Infact, these principles are the foundation of Best Governed Organizations' irrespective of their form and size
22. WINNING EMPLOYEES XCELLENCE GROWING INVESTORS DELIGHTED CUSTOMERS TRUSTED SUPPLIERS SATISFIED GOVERNMENT AND REGULATORS HAPPY SOCIETY
23. 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 application of best management practices, compliance of law in letter and spirit and for sustainable development of all stakeholders”
38. 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
39. Corporate Governance Value Chain “ Corporate Governance is not related to investors only, though they are most important Beneficiary.”
40. Stakeholders’ Stake in Corporate Governance Value Chain 2 : 1 Debt – Equity Ratio 2 : 1 Current Ratio
46. Present Status of CG Practices – The CRISIL Experience Practice Status Equitable Treatment of Shareholders Moderate Transparency and Disclosure Relatively Strong Composition of Board Scope for improvement Functioning of Board Moderate
47. Value Addition - The CRISIL Experience Stakeholders Status Share Holders High Debt Holders Highest Employees Moderate Customers High Suppliers Scope for improvement Society Scope for improvement
48. Outstanding Performance, Higher Profits, Expanded Market Reach and the like FAILS to protect a company which has put good governance & ethics at the back burner…. History is Witness S U C E S S D I S A S T E R
49. Secret behind building foundations ..…Only the culture of strict adherence to good compliance can keep a company ahead on sustainable basis , bring in larger profits…
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Editor's Notes
Ladies and Gentlemen Corporate Governance rests with the Vision and Perception of the Corporate Leadership
and The ICSI has adopted a Vision for Corporate Governance itself
The ICSI Parivar follows principles based on ethics and humanity 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
In fact, these basic principles are the foundation of Best Governed Organisations, irrespective of their form and size
Ladies and Gentlemen Commitment to well-being and progress of all stakeholders is our age old mantra
Taittariya Upanishad, which has for ages strengthened our centres of education, contains invaluable advice to students passing out from an institute of learning - Satyam Vada Dharmam Chara
“ Forever speak the truth and follow the dharma”
Truthful disclosure of State of Affairs i.e. transparency operations and transactions.
In the Karna Parva of the Mahabharata Chapter 69 says: Dharma is for the stability of society, the maintenance of social order and the general well-being and progress of humankind i.e. the Overall Governance
Similarly, Corporates are also expected to use their Capacity, Knowledge and Resources towards maximisation stakeholders’ value and well-being and progress of humankind (i.e. Dharma) through Transparency, accountability and truthful disclosure of state of affairs (i.e.Truth)
This is our own age old mantra of Good Governance.
Ladies and Gentlemen Companies that have won ICSI National Award for Excellence in Corporate Governance have
Consistently earned high returns, increased their net worth and enhanced their shareholders wealth
Invested significantly in proactive research and development
Developed people into ‘achievers’ than just ‘performers’
Dealt ethically with customers, government and business partners
Maintained and updated their professional management culture, system and processes
..and accomplished
Growing Investors Winning Employees Delighted Customers Trusted Suppliers Satisfied Government And Regulators Happy Society That is Excellence, which everyone aspires for and that leads to National Growth
Corporate Governance is not a buzzword, there are so many advantages of applying good corporate governance practices
The first advantage is GROWTH Growing Revenues Growing Profits Growing Market Value
Companies get Widespread Goodwill and Brand Reputation, resulting into Widening Customer Base Ready Market for New Products Access to Global Markets, and Better Access to Human Capital
and Enhanced Trust and Confidence of all Stakeholders INVESTORS EMPLOYEES CUSTOMERS SUPPLIERS GOVERNMENT AND REGULATORS, and SOCIETY at large
