CP Knowledge: Lecture on CG NIRC ICSI
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The document discusses the importance of good corporate governance practices for corporate excellence. It states that corporate governance rests with the vision and perception of leadership, and leaders need a vision for governance. It emphasizes applying best management practices, complying with laws, and sustainable development for all stakeholders as the keys to good governance. Good governance leads to benefits like growth, goodwill, access to markets and capital, and enhanced trust of stakeholders, contributing to sustainable development.
CP Knowledge: Lecture on CG NIRC ICSI
- 1. Corporate Excellence through Corporate Governance Pavan Kumar Vijay Immediate Past President, ICSI MD, Corporate Professionals
- 2. Corporate Governance rests with the Vision and Perception of the Leadership
- 3. and A Leader need to adopt a Vision for Corporate Governance
- 4. 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 Corporate Governance application of best management practices, compliance of law in letter and spirit and for sustainable development of all stakeholders”
- 5. Corporate Governance Framework Output – Input = Wealth Created ? Sustainability Happiness and Prosperity of all Stakeholders Reinvestment Distribu- tion Research and Development HR Development Infrastructure Risk Management SUPPLIERS Adequate Returns HUMAN ASSETS Adequate Remuneration CUSTOMERS Affordable Prices PUBLIC Payment of Taxes and Partnership in National Development Projects Wealth Creation Wealth Management Wealth Sharing Enhanced Capabilities Best Management Practices are Vital Here Law and Ethics are Vital Here
- 6. 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
- 7. 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
- 8. Infact, these principles are the foundation of Best Governed Organisations irrespective of their form and size
- 9. Advantages of applying Best Corporate Governance Practices
- 10. Growth Growing Revenues Growing Profits Growing Market Value
- 11. Widespread Goodwill and Brand Reputation Access to Global Markets Better Access to Human Capital Ready Market for New Products Widening Customer Base
- 12. Enhanced Trust and Confidence of all Stakeholders EMPLOYEES INVESTORS CUSTOMERS SUPPLIERS GOVERNMENT AND REGULATORS SOCIETY
- 13. Leading to…
- 14. Environment Civil Society Business Society SUSTAINABLE DEVELOPMENT
- 15. Commitment to well-being and progress of all stakeholders is our age old mantra
- 16. Satyam Vada Dharmam Chara - Taittariya Upanishad
- 17. “ Forever speak the truth and follow the dharma ”
- 18. Truth : Disclosure of Actual State of Affairs (Transparency in operations and transactions)
- 19. Dharma : “Dharma is for the stability of society, the maintenance of social order and the general well-being and progress of humankind .” - Karna Parva of the Mahabharata. Verse-58 in Chapter 69
- 20. Governance Concept in ‘Ramayana’ To provide “the maximum happiness for the maximum number of people for the maximum period, based on the principles of Dharma – righteousness and moral values.” - Ayodhya Kand
- 21. “ The Customer is King” - Mahatma Gandhi
- 22. This is the soul behind modern Marketing Management
- 23. Worshipping 33 Crore Godheads signifying various species, plants, cosmic elements, …
- 24. Care for Panchtatvas - Prithvi , Jal , Vaayu , Akaash and Agni that make a human being
- 25. This is our approach to Environment Protection
- 26. The four essential principles of Mahatma Gandhi's philosophy Truth , Ahimsa , Trusteeship and Constructive Action
- 27. Corporates are also expected to use their Capacity, Knowledge and Resources Maximisation of stakeholders’ value and well-being and progress of humankind TOWARDS THROUGH Transparency, accountability and truthful disclosure of state of affairs Dharma Truth
- 28. This is our own age old mantra of Good Governance
- 29. Companies that have followed these principles of Corporate Governance have
- 30. Consistently earned high returns, increased their net worth and enhanced their shareholders wealth
- 31. Invested significantly in proactive research and development
- 32. Developed people into ‘ achievers’ than just ‘ performers’
- 33. Dealt ethically with customers, government and business partners
- 34. Maintained and updated their professional management culture, system and processes
- 36. WINNING EMPLOYEES XCELLENCE GROWING INVESTORS DELIGHTED CUSTOMERS TRUSTED SUPPLIERS SATISFIED GOVERNMENT AND REGULATORS HAPPY SOCIETY
- 37. Leaders need to strive for excellence in Corporate Governance because Corporate Excellence and Professional Accountability For Better Leadership
- 38. Excellence in Corporate Governance Corporate Excellence Social Excellence National Excellence Excellence in Corporate Governance leads to National Excellence
- 39. Professionals are acting as Catalyst in applying best practices in Corporate Governance
- 40. Professionals are adequately developed to take this challenging job
- 41. We all Professionals must also bind ourselves by a Code of Conduct
- 42. Thus ensuring highest level of Integrity Independence Excellence Innovation
- 43. Opportunities to serve the Nation are unlimited
- 44. Understand Industry Needs Gain ‘Substantial Knowledge of Management’ – Learning little more than what is included in the course curriculum Provide PQRS – P roductivity, Q uality, R eliability and S ervice Use 3Cs - C reativity, C onfidence and C ommunication Conduct Periodical SWOT Analysis of Self Use Technology to Beat Technology All you need to do is:
- 45. Gain Knowledge of Industry MEDIA AND ENTERTAINMENT INFRASTRUCTURE, POWER AND TELECOM IT SOLUTIONS IT ENABLED SERVICES AND BPO TEXTILES TOURISM AND HOTEL CAPITAL MARKET AND ITS INTERMEDIARIES HOUSING AND CONSTRUCTION FMCG AGRICULTURE AND FOOD PROCESSING CAPITAL GOODS DRUGS, PHARMA AND HEALTHCARE BANKING AND NBFCS FINANCIAL SERVICES
- 46. Gain Knowledge of Management Functions CORPORATE COMMUNICATION STRATEGY SECRETARIAL AND LEGAL FINANCIAL AND ACCOUNTS HUMAN RESOURCES INFORMATION TECHNOLOGY MARKETING R&D AND PRODUCTION
- 47. P roductivity – Nation expects you to use resources in most profitable manner Q uality – There is no compromise on quality R eliability – Companies require trust in abilities and loyalty to company all the time S ervice – Value Added Services with courtesy and smile is absolute necessity Providing PQRS
- 48. C reativity – Innovation is the critical success factor C onfidence – Believe in Yourself (Yes, You Can Do It) C ommunication – It is how you make people know about your creativity and confidence. It is Communication that creates opportunities. Using 3Cs
- 49. S trengths: What are my strengths? W eaknesses: What are my weaknesses? O pportunities: What are new opportunities? T hreats: What are new threats? So that you can CHANGE with the TIME Periodical SWOT Analysis
- 50. Internet and E-commerce Enterprise Resource Planning (ERP) ERP and CRM Tools for Practicing Consultants Data Warehousing and Data Mining Computer Based Complex Business Analysis Models There are many more... Use Technology to Beat Technology
- 51. Co-operate instead of Competing
- 52. Optimism Comes from Co-operation
- 53. It’s a matter of Perception and Positive Thinking
- 54. Thank You
Editor's Notes
- #2: 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.
- #3: Ladies and Gentlemen Corporate Governance rests with the Vision and Perception of the Corporate Leadership
- #4: and The ICSI has adopted a Vision for Corporate Governance itself
- #8: 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
- #9: In fact, these basic principles are the foundation of Best Governed Organisations, irrespective of their form and size
- #10: Corporate Governance is not a buzzword, there are so many advantages of applying good corporate governance practices
- #11: The first advantage is GROWTH Growing Revenues Growing Profits Growing Market Value
- #12: 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
- #13: and Enhanced Trust and Confidence of all Stakeholders INVESTORS EMPLOYEES CUSTOMERS SUPPLIERS GOVERNMENT AND REGULATORS, and SOCIETY at large
- #14: Leading to…
- #15: SUSTAINABLE DEVELOPMENT
- #16: Ladies and Gentlemen Commitment to well-being and progress of all stakeholders is our age old mantra
- #17: 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
- #18: “ Forever speak the truth and follow the dharma”
- #19: Truthful disclosure of State of Affairs i.e. transparency operations and transactions.
- #20: 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
- #21: 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.”
- #22: Mahatma Gnadhi said “The Customer is King”
- #23: This is the soul behind modern Marketing Management
- #24: We have been worshipping 33 Crore Gods signifying various species, plants, cosmic elements, … or 33 Crore Components of Nature.
- #25: We Care for Panchtatvas - Prithvi, Jal, Vaayu, Akaash and Agni that make a human being
- #26: This is our approach to Environment Protection.
- #27: 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.
- #28: 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)
- #29: This is our own age old mantra of Good Governance.
- #30: Ladies and Gentlemen Companies that have won ICSI National Award for Excellence in Corporate Governance have
- #31: Consistently earned high returns, increased their net worth and enhanced their shareholders wealth
- #32: Invested significantly in proactive research and development
- #33: Developed people into ‘achievers’ than just ‘performers’
- #34: Dealt ethically with customers, government and business partners
- #35: Maintained and updated their professional management culture, system and processes
- #36: ..and accomplished
- #37: 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
- #38: Company Secretaries are adequately developed to take this challenging job Course Curriculum Focuses on Essentials of Corporate Governance i.e. Coverage of both Management Practices and Law Extensive Pre-Membership Training Compulsory Continuing Education PMQ and Short Term Courses
- #39: 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
- #40: 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
- #41: Company Secretaries are adequately developed to take this challenging job Course Curriculum Focuses on Essentials of Corporate Governance i.e. Coverage of both Management Practices and Law Extensive Pre-Membership Training Compulsory Continuing Education PMQ and Short Term Courses
- #42: Company Secretaries are also bound by the strict Code of Conduct
- #43: Thus ensuring highest level of Integrity Independence Excellence and Innovation
- #44: Thus ensuring highest level of Integrity Independence Excellence and Innovation
- #52: Thus ensuring highest level of Integrity Independence Excellence and Innovation
- #55: Thank You