Posts Tagged ‘SECTOR’
CORPORATE GOVERNANCE-A COMPARATIVE STUDY OF SELECT PUBLIC SECTOR AND PRIVATE SECTOR COMPANIES IN INDIA
CORPORATE GOVERNANCE-A COMPARATIVE STUDY OF SELECT PUBLIC SECTOR AND PRIVATE SECTOR COMPANIES IN INDIA
BY
Dr.V.V.S.K.PRASAD.,Professor
&
T. VENKATESWARA RAO., Asst.Professor
BACKGROUND
Corporate governance is the set of processes, customs, policies, laws, and institutions affecting the way a corporation is directed, administered or controlled. Corporate governance also includes the relationships among the many stakeholders involved and the goals for which the corporation is governed. The principal stakeholders are the shareholders, management, and the board of directors. Other stakeholders include labor(employees), customers, creditors (e.g., banks, bond holders), suppliers, regulators, and the community at large.
Corporate governance is a multi-faceted subject. An important theme of corporate governance is to ensure the accountability of certain individuals in an organization through mechanisms that try to reduce or eliminate the principal-agent problem. A related but separate thread of discussions focuses on the impact of a corporate governance system in economic efficiency, with a strong emphasis shareholders’ welfare. There are yet other aspects to the corporate governance subject, such as the stakeholder view and the corporate governance models around the world (see section 9 below).
It is a system of structuring, operating and controlling a company with a view to achieve long term strategic goals to satisfy shareholders, creditors, employees, customers and suppliers, and complying with the legal and regulatory requirements, apart from meeting environmental and local community needs.
Government Policies and International Voluntary Sector
There is an urgent need to put an end to distortions in social development and evolving institutionalised mechanisms of collaboration between the government and the NGOs and the people’s institutions.
CJ: SADAKET MALIK , 14 Oct 2008 Views:482 Comments:0
VOLUNTARY SOCIAL work, voluntarism, voluntary organisations, non governmental organisations (NGOs) not profit making organizations, religion based social development organisations, individual donors, philanthropy and corporate social development organisations have grown tremendously in the 21st century.
Similarly international developmental organisation like the World Bank, United Nations Development Programme (UNDP), United Nations International Children Education Fund (UNICEF), United Nations Environment Programme (UNEP), United Nations Industrial Development Organisation (UNIDO), World Trade Organisation (WTO), Food and Agriculture Organisation (FAO), Asian Development Bank (ADB), Japan International Cooperation Agency (JAICA), Department Fund for International Development (DFID), Canadian International Development Agency (CIDA), Swedish International Development Agency (SIDA), United Nations Economic, Social Commission for Asia and Pacific (UNESCAP) and many other organisations are relentlessly campaigning for the cause of the social development.
Under United Nations systems several international conventions are being held, several laws are being promoted, several policies are being evolved and several projects are being implemented in various areas like the human rights, education, health, natural resources, development and environment.
The government of India and many governments of various nations of the world like South Africa, China, Pakistan, Bangladesh, Indonesia, Malaysia, Thailand, Philippines, Uganda, Zambia and Mexico have enacted several laws, established various government departments, evolved policies, and created schemes for the cause of social development.