Vishakha YadavAIR 6 · CSE 2019 · 188 wordsTheir whole copy
Opening · a definition
(CG) Corporate governance is the art of conducting day to day operations of a company with internal and external stakeholders.
Body · points and prose
Policies of the C.G
- The Companies Act 2013 has been formulated to ensure the BOD to look over transparent, fair governance and transactions amongst shareholders and employees.
- Committees such as Uday Kotak, Kumar Mangalam has further strengthened CG by constituting the independent directors (50%) atleast one being woman.
- Injeti Srinivas committee recently advocated for better utilisation of CSR funds - social accountability.
- MoCA mandated disclosure of ICC reports in annual reports highlighting sexual harassment.
However to be truly ethical and inspiring CG needs - (1) Compassionate capitalism concept of Mr Narayan Murthy focussing on 3Ps
(2) II ARC also stipulated a code of ethics under the company law with proper soft skills training and quarterly assessment and tests. (3) The social responsibility under the CSR funds disbursal should be whole heartedly taken.
Close · a way forward
Corporates need to be "agents of change" following sustainable growth principle as followed by Bill and Melinda Gates Foundation, Tata Trust ,etc to make India achieve an inclusive growth (SDG 8).