Download - Indian Value System & Business Ethics
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CORPORATE GOVERNANCEAND ETHICAL DILEMMAS
AT WORK PLACE
By
Group-B
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CORPORATE GOVERNANCE
According o Milton Friedman,Corporate Governance is to conduct
the business in accordance with owners
or shareholders desires, which
generally will be to make as much
money as possible, while conforming to
the basic rules of the society embodiedin law and local customs.
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NEED FOR CORPORATEGOVERNANCE
Lays down framework forcreating Long-Term Trust.
Improves Strategic Thinking. Rationalizes the Management
and Monitoring of Risk. Limits the top management
from articulating the decision-making process. reates Long-Term
reputational e!ect among key
Stakeholders.
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OB!ECTIVES"-
"oard capa#le of taking Independent$ecisions.
%doption of Transparent &rocedures and
&ractices. '!ective machinery to serve the
concerns of Stakeholders.
Shareholders are well informed a#out thelatest development.
"oard remains in e!ective control of thea!airs of the company at all times.
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CORPORATE GOVERNANCE IN INDIA
The Indian corporate scenario wasmore or less stagnant till the early ()s.
The position and goals of the Indian
corporate sector has changed a lotafter the li#eralization of ()s.
India*s economic reforms made asteady progress in +((,.
India with its ) million shareholders isone of the largest emerging markets interms of the market capitalization.
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THE SATYAM SCANDAL
O#$r%&$d &%%$% &nd inco'$
T($ r$%u)% &nnounc$d on Oco*$r +,
.//0 o#$r%&$d 1u&r$r)y R$#$nu$% *y
p$rc$n &nd pro2i% *y 0, p$rc$n3 T($ g)o*&) ($&d o2 in$rn&) &udi &)%o
i))$g&))y o*&in$d )o&n% 2or ($
co'p&ny3
Cr$&$d +4/// 2&5$ %&)&ry &ccoun% Cr$&$d 2&5$ cu%o'$r id$nii$% &nd
g$n$r&$d 2&5$ in#oic$% o in2)&$
r$#$nu$
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Coninu$d633
The '/ was convinced that the gap inthe #alance sheets reached anunmanagea#le heights and could not #e0lled.Satyam omputer crashed #y Rs +1(.+2or 33.4( per cent to close at Rs 1(.(2after the hairman5s confession.
"om#ay stock e6change fell 3)) points.The Sense6 recorded the #iggest single-day loss in the past two months afterSatyam omputers Services plunged 7)
percent.
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ELEMENTS OF GOODCORPORATE
GOVERNANCE Role and powers of #oard.
Legislation. Management 'nvironment. "oard Independence.
ode of onduct.
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CONTIN7ED633
Strategy Setting. 8inancial and /perational
Reporting. %udit ommittees. Risk Management.
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CONCLUSION
orporate governance %nd economicdevelopment are intrinsically linked.
'!ective corporate governancesystems promote the development ofstrong 0nancial systems
9hich in turn have an unmistaka#ly
positive e!ect on economic growth andpoverty reduction.
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ETHICAL DILEMMAS ATWORK PLACE
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HAT ETHICS IS!
:System of moral principles rules and conducts.;
The a#ility to distinguish#etween right and wrongand to act accordingly.
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DILEMMAS AND ITS T8PE"-
Dilemma is a situation where there is no clear easy choice
or answer.
Types of Dilemmas:
Do!"le "i#$ $ilemmas
In it victim placed in :No %i# si&!a&io#' forced #y another.
Fai(#ess $ilemmas%rise when groups are faced with making decisions a#out
how to share their resources and rewards.
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HO TO OVERCOME ETHICAL
DILEMMAS AT OR"PLACE!
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Ste#$D$#$)oping & 9or5p)&c$ po)icy d$p$nd% on co'p&ny:% p(i)o%op(y
'i%%ion %&$'$n &nd ($ir cod$ o2 conduc%3
Ste# %Gi#$ r&ining o $'p)oy$$% &*ou 9or5p)&c$ $(ic%3 Gi#$ in%rucion'$(od% o $ng&g$ $'p)oy$$% in )$&rning (o9 o '&n&g$ &nd r$%o)#$
$(ic&) di)$''&% or (o9 o 2&c$ 9i( $(ic&) i%%u$%3
Ste#&Con%id$r 9($($r ($ org&ion n$$d% &n $(ic% (o)in$ 9(ic( i%
con2id$ni&) %$r#ic$ 2or $#$ry $'p)oy$$ 9($r$ $'p)oy$$% '&y
con&c 9($n$#$r ($y $ncoun$r 9or5p)&c$ di)$''&% (& pu ($'
ino unco'2or&*)$ or (r$&$ning po%iion%3
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Ste#'R$2r&in 2ro' '&5ing $'p)oy'$n d$ci%ion% %uc( &% $r'in&ion%
in conn$cion 9i( 9(i%)$ *)o9ing or &n $'p)oy$$:% rig( opro$c$d &ci#iy und$r 9(i%)$ *)o9ing )&9%3
Ste#(D$%ign ($ %&'$ po)ici$% 2or $#$ry $'p)oy$$ & 9or5p)&c$3And u%$ ($ %&'$ *u%in$%% princip)$% in $#$ry circu'%&nc$3
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HOW MANAGEMENT CAN AVOID
%pply working decision on the#ases of merit.
"uild understanding #etweenmanagement and employees.
%cknowledge the contri#utionand give clear cut paraphraseto avoid the ine!ectivenessand am#iguity.
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AVOID THE CA7SES O= CON=LICT AT
WORKPLACE
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THERE ARE THE SIMPLE THREE
METHODS FROM HICH MANAGEMENT
SHOULD APPLY AND RESOLVED THE
CONFLICT AT OR"PLACE
larify the pro#lem.
=enerate andevaluate the
possi#le solution.
'valuate the
solution.
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SOME POINTS O= COMPLIANCE
PROGRAM
Maintain standard andprocedures.
>igh level oversight.
are in delegation of authority.
'!ective communication.
%ccounta#ility.
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Con)l*+ion
'thics at workplace is very important for "usiness.
It grow and run its operations e!ectively.
If any kind of ethical dilemmas occur at theworkplace than it can#e resolved #y the e!ective role of #usinesscommunication.
Aoid
%void diso#eying the rules and regulations of theorganization.8avoritism should #e avoided at workplace.?nethical >R decisions for hiring and 0ring should
#e avoided.
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THANK
)O*++