All organizations have their targets and goals, develop their structure and design,
adapt feasible strategies to achieve them, create mechanism to deliver the products as
well as services and effective reporting system for sustainable performance. The size
and composition of their board play crucial role in enhancing their performance that
varies from organization to organization. Here, comes the importance of the corporate
governance to facilitate the process of achieving goals effectively in this competitive global market.
Evidences are that corporate governance has enabled the organizations to develop the
framework of rules and practices by which a board of directors of any organization ensures
accountability, fairness and transparency to enhance overall performance, wealth generating
capacity and achieve agreed goals. Normally, good governance follows the principles of ethical
approach, balanced objectives, equal concern for all stakeholders, accountability and transparency
to all. Literature also directs to follow principles of good governance such as following clear
ethical basis to the business, choosing goals that arrived after consulting all stakeholders, having
an transparent communication system that leads to accountability, choosing an effective strategy
process which incorporates stakeholder value, treating all stakeholders with equal concern and respect
and giving opportunity to every stakeholder to express view/opinion.
Background
It has been found that organizations having good management practices also have good corporate governance
practices and this relationship is still a subject matter of academic discussion whether they have causal
relationship or not. Shailesh J. Mehta, IIT Bombay has an observation of over 3 decades of some of the largest companies to the owner of
small entrepreneurial businesses clearly shows that congruency between the expectations of all stakeholders
and achievement of goals by the company is very significant in sustainable performance and the best corporate
governance practices play important role in this process.
Objectives
To address the issues related to various aspects of Corporate Governance, CDSL in association with Shailesh J. Mehta
School of Management (SJMSOM), IIT Bombay organised a seminar to focus on different dimensions of effective corporate governance,
which in turn, leads to have a sustainable Corporate Governance.