Gyan VardhanInstitute of Business Management & Research

By - Apoorva Yadav Subbi Reddy Divya Chalam Purusharth Bakshi

҉' EU delayed Ukraine free trade deal implementation by 2015♣Ukraine will not have to cut import duties from EU

҉' U.S. imposes new sanctions on major Russian banks, defense & energy firms after EU`s decision

҉' Modi set to visit US, will discuss WTO, Visas & IPR issues

҉' India has potential to be knowledge based economy: ADB

Goooooddd Afternooooon Bangalore!!

҉' Sensex reached 27,061.04, Nifty – 8,105.50 & Gold prices fell to 26,893 Rs/10g

҉' India`s Foreign exchange reserve fell by 1.327 billion $

҉' Govt. will ban use of Gmail & Yahoo to protect official records:♣after 5 million email ids were hacked by Russian hackers

҉' IIP growth eased to 4 month low which will result in slow recovery of manufacturing sector

҉' Big Basket.com raises Rs 200 cr. Funding

҉' Investment of 80,000 cr needed to fund fuel upgradation in India: Oil Secretary, Saurabh Chandra♣ Existing fuel emits cancer causing particles♣Prices of fuel will rise to 75 paisa in future

҉' 100 days of Vishal Sikka: Infosys stock climbs up 16.12%

҉' Alibaba.com, Chinese online portal plans to sell 24 billion $ worth of shares on NYSE

҉' Amazon plans to launch online portal for wholesale merchants

҉' Android one set for debut in India in September

҉' Symphony on expansion mode, market capitalisation crosses Rs 5,000 cr

҉' NABARD launches Rs 5,000-cr fund to push agriculture investments

҉' Indian corporates invested $1.25bn overseas in August: RBI♣equities of $207.39 million♣ loans of $303.48 million ♣ bank guarantees of $742.80 million

҉' Corporate governance refers to the way a corporation is governed, directed & managed

҉' Interaction between shareholders, board of directors & company`s management in shaping corporations performance

҉'It is about balancing individual & organizational goals as well as economic & social goals

Corporate Governance

҉'Keep the interest of stakeholders in mind: ♣Investors♣Employees♣Government♣Society

҉'Treating all stakeholders equally

҉'Ethical behaviour: To follow a code of conduct during the decision making process in business

҉'Transparency: the corporation should disclose its functioning & actual profits to all stakeholders

Goals of corporate governance

҉'Good corporate governance ensures stable success & growth of organization

҉' Helps maintain investors confidence from which company can efficiently & effectively raise capital

҉'It minimizes wastage, corruption, risk & mismanagement

҉'Efficiency in organization governance reduces capital cost

҉' Positively impacts on the share price of the company҉'Leads to strong brand building

Significance of corporate governance

Organizations with High Corporate Governance Record

Top Best Practices in Companies

Across Various Fields

҉' In Social Welfare:

҉'Founded by Larry Page & Sergey Brin

҉'The Google Green Program has donated over $1 bn to renewable energy projects

҉'Reduced carbon footprint: energy efficient buildings & public transportation

҉' Open advocate of free speech & gay marriage ҉'Google employees have access to free health care,

discounted legal service & free on-site nursery

҉' In Employee Welfare:

҉'Founded by Anthony James Barr James Goodnight & John Sall

҉'The company has never had a layoff

҉'Employees receive subsidized Montessori child care, unlimited sick time & access to a free health centre

҉'The company staff has intramural sports leagues

҉'. Supports education philanthropy promoting science, engineering & maths programs for children

҉' The company encourages its employees to volunteer at non-profit programs & charities

҉'In Philanthropy:

҉' Founded by Marc Benioff

҉'Salesforce.com Foundation has donated millions of dollars in education grants & technology

҉' The company discounts its services to non-profit organizations

҉' Employees are encouraged to do charitable work by giving them 6 days off per yr

҉' Saleforce.com ranks high on lists of companies offering the best salaries & hourly rates to its employees

҉'In Human Resource Management:

҉'Started by Frederick W. Smith҉'Philosophy: employees should be doing the kind of work

they want to do҉'Maximum employee satisfaction

҉'Practices People-Service-Profit philosophy

҉'Tracks employee satisfaction with its annual SFA

҉'Recognition and Reward Programme҉'Leadership Evaluation and Awareness Process(LEAP)

҉' In Environment Sustainability:

҉' Founded by Pierre Omidyar

҉' Best practices in environmental sustainability

҉' Believes in 3P’s- People, Planet & Profit

҉' Exchange & Reuse goods

҉' eBay classifieds section – people can buy & sell household items: eliminates the need for packaging & shipping

҉' Follows green supply chain management by partnering with United States Postal Service

҉'Founded by Howard Schultz

҉' Building greener stores

҉' Adopts green supply chain management

҉'Offers consumers 10% discount who bring their own reusable cups

҉' Full health insurance benefits & stock awards to its coffee serving staff

҉'Company is a vocal advocate of same-sex marriage

҉' Fair Trade Certified & certified organic coffee

If the world is cold, make it your business to build fires. - Horace

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