Succession planning is the process of identifying and developing employees who can fill key positions in a company, when there is a vacancy, whether planned or unplanned. An efficient process ensures that the business continues to operate efficiently at all times. It starts with identifying key positions. Succession planning is an important part of Business....
Public Sector Undertakings (PSUs) or Public Sector Enterprises (PSEs) have played, and continue to play, an integral part in the development of India’s economy. They are majority owned by the Union or State Governments. PSUs were initially set up to provide industrial and regional development. They have been present in sectors where private sector might....
A company is an artificial entity. It requires natural persons to make informed decisions and to carry out business activities. Directors are appointed by the shareholders of the company to represent their interests, by setting long term goals and ensuring that the policies and processes are in place, to achieve the objectives of the company.....
Some of the scams and corporate failures in India, as well as abroad, have highlighted the need for building good Corporate Governance culture in the corporate sector. When such scams happen, stakeholders suffer immensely. Board of Directors are at the apex of a company. The Board should adopt good Corporate Governance practices for the long-term....
Corporate Governance is not a new concept, but one which has been gaining increasing attention, with a number of scams, frauds and other wrongdoings being reported in companies. With each such incident, the role of the Board, and the need for proper practices and processes, comes to into focus. India started its journey towards Corporate....
Environmental, Social and Governance (ESG) factors, informing businesses, has become a key priority for companies around the world. Investors also are focussed on the efforts that companies are putting in towards promoting ESG. There is no exhaustive list of attributes/criteria that are covered under ESG. Environmental criteria include, but are not limited to, climate change,....
Social responsibility means a business’s obligation to conduct business in a manner that benefits society, as a stakeholder of business, along with maximising shareholder value. Many a time, the philanthropic efforts of a company, undertaken voluntarily, and Corporate Social Responsibility (CSR), which is mandated by law, are misconstrued as synonymous. Philanthropy means promoting and attempting....
The Board of Directors is at the apex of the decision-making process in a company. The Board, along with the management, takes a number of decisions relating to important items, such as strategy, annual budget, accounts of a company, succession planning and the like. Decisions, if not implemented, would remain only on paper. It is....
Compliance is the practice of adhering to laws, rules and regulations. Each company has to ensure that it conducts its business in an ethical manner, by following all the laws that are applicable to it. These could be Central laws, State laws, or sector specific laws. It is obvious to believe that companies should adhere....
Over the decades, a number of institutions and committees have attempted to define Corporate Governance. At its core, it is no more than doing the right things, in the right manner, at the right time and for the right reasons. Whenever a misdemeanour or a fraud in the corporate arena comes to public notice, questions....