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
23. Directorships Matrix Executive Group (Salaried) Promoter Group Independent Group Managing / Whole Time Director Director Chairman Executive Chairman Executive /Non-Executive Chairman Non-Executive Chairman
24. Position of Independent Director Executive Director Owner Director Independent Director Board of Directors Interest of Company Interest of Shareholder Interest of Stakeholders Balancing of Interests Primary Duty Enhanced Responsibility
44. Independent Director in a JV JV Company Partner A Partner B Interest of Partner A Interest of Partner B Interest of Company & Stakeholders Reconciliation of Interest
45. In this way INDEPENDENT DIRECTOR Ensures Application of best management practices Compliance of law in true letter and spirit Adherence to ethical standards Discharge of social responsibility for sustainable development of all stakeholders Distribution of wealth And In other words, CORPORATE GOVERNANCE
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
..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