Corporate Governance Drives Excellence and Value Creation
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The document discusses the principles and importance of good corporate governance. It states that corporate governance involves applying best management practices and complying with laws and ethical standards to effectively manage companies and share wealth sustainably with all stakeholders. Good corporate governance leads to growth, goodwill, and benefits for employees, investors, customers, and society through transparency, accountability and upholding moral values.
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Corporate Governance Drives Excellence and Value Creation
- 1. C orporate E xcellence through C orporate G overnance
- 4. The Institute of Company Secretaries of India Corporate Governance “ The application of best management practices , compliance of law in 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 .”
- 5. "Corporate governance is the system by which business corporations are directed and controlled. The corporate governance structure specifies the distribution of rights and responsibilities among different participants in the corporation, such as, the board, managers, shareholders and other stakeholders, and spells out the rules and procedures for making decisions on corporate affairs.”
- 7. 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
- 8. 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
- 9. Infact, these principles are the foundation of Best Governed Organisations irrespective of their form and size
- 17. Environment Civil Society Business Society SUSTAINABLE DEVELOPMENT
- 19. Satyam Vada Dharmam Chara - Taittariya Upanishad
- 27. Worshipping 33 Crore Godheads signifying various species, plants, cosmic elements, …
- 30. The four essential principles of Mahatma Gandhi's philosophy Truth , Ahimsa , Trusteeship and Constructive Action
- 31. 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
- 32. Common Factors behind such events
- 33. Emerging Issues
- 34. 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…
- 35. Corporate Governance and Valuation Effect… Few Examples… A Comparison within companies in FMCG Industry with their P/E multiple 41.39 37.36 36.70 31.93 28.79
- 36. Corporate Governance and Valuation Effect… Few Examples… A Comparison within companies in Pharma Industry with their P/E multiple 19.37 14.81 14.7 5.35
- 37. Corporate Governance and Valuation Effect… Few Examples… A Comparison within companies in Banking Industry with their P/E multiple 6.13 6.2 5.97 4.81
- 38. Corporate Governance and Valuation Effect… Few Examples… A Comparison within companies in IT Industry with their P/E multiple Companies with better governance is presumed to have a better face and thus greater P/E Multiple and Enhanced Valuations... Source: Economic Times, dated 1 st July, 2010 19.79 19.58 15.85 7.43 9.78
- 47. WINNING EMPLOYEES XCELLENCE GROWING INVESTORS DELIGHTED CUSTOMERS TRUSTED SUPPLIERS SATISFIED GOVERNMENT AND REGULATORS HAPPY SOCIETY
- 48. Excellence in Corporate Governance Corporate Excellence Social Excellence National Excellence Excellence in Corporate Governance leads to National Excellence
- 51. Thank You Pavan Kumar Vijay Managing Director Corporate Professionals India Pvt. Ltd. D – 28, South Ext- I, New Delhi 1100049 Tel: +91.11.40622200, Fax: +91.11.40622201 Email : info@indiacp.com Visit us at: www.corporateprofessionals.com
Notes de l'éditeur
- A very good Evening to all of you Distinguished Chief Guest Shri L K Advani, Hon’ble Deputy Prime Minister of India, Justice Shri M N Venkatachalliah, Shri M M K Sardana, Shri G N Bajpai, Shri S Gangopadhyay, Shri N K Jain, Members of the Jury, My Fellow Council Members, Senior Government officials, Corporate Executives, Invitees, Members of Profession, Students, Ladies and Gentlemen.
- 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
- 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
- Leading to…
- SUSTAINABLE DEVELOPMENT
- 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)
- In Ayodhya Kand of Ramayana, Lord Rama explains the concept of Governance as “ to provide the maximum happiness for the maximum number of people for the maximum period, based as it is on the principles of Dharma –righteousness and moral values.”
- Mahatma Gnadhi said “The Customer is King”
- This is the soul behind modern Marketing Management
- We have been worshipping 33 Crore Gods signifying various species, plants, cosmic elements, … or 33 Crore Components of Nature.
- We Care for Panchtatvas - Prithvi, Jal, Vaayu, Akaash and Agni that make a human being
- This is our approach to Environment Protection.
- The four essential principles of Mahatma Gandhi's philosophy - Truth, Ahimsa, Trusteeship and Constructive Action are widely quoted the worldover. Gandhi said we don't own the talent but we are appointed "Trustees" by God and so we must use the talent to help others, less fortunate or talented than us. The Board of Director being Trustees should work with highest level of integrity and independence and strive for growth of all stakeholders.
- 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
- Ladies and Gentlemen It gives me great pleasure to tell you that Company Secretaries are acting as Catalyst in applying this mantra of Good Corporate Governance
- This is our own age old mantra of Good Governance.
- Thank You