indian value system & business ethics

7/24/2019 Indian Value System & Business Ethics

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CORPORATE GOVERNANCEAND ETHICAL DILEMMAS

AT WORK PLACE

By

Group-B


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p

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*++

indian value system & business ethics

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