Waseem Ahmad BhatAIR 7 · CSE 2022 · 167 wordsTheir whole copy
Opening · a definition
According to Walton, Corporate governance is the systems & processes in a corporate that ensure that its working fulfills the interests of all stakeholders.
Body · points
→ Ethical Corporate governance: Spirit & Structure
The following can be observed:
→ Structure As per committees, such as Naresh Chandra Committee, Uday Kotak etc, the structure should be:
- Right board leadership with independent directors on the board as mandatory.
- 1 women independent director
- Focus on independence of financial disclosures → e.g: Disclosure lapses of Franklin Templeton ● Corporate governance report as part of annual report. ● Reduce family control and management e.g: Naresh Goyal's reluctance to leave Jet Airways.
→ Spirit
● Ethical workplace with Values as the guide e.g: Novartis ranks members based on values. ● Focus on gender equity → ICC Report as part of annual report
Close
● Long term use of CSR funds (Injeti Srinivas Committee) ● Community as the main stakeholder (J.R.D Tata)
This will ensure compassionate Capitalism (Narayan Murthy) based on trusteeship model (Gandhiji)