good governance

• Good work ethic


  • Good time management
  • Focus
  • Dedication
• Developing good work ethic

  1. Focusing on work

  2. Being professional

  3. Maintaining good reputation

  4. Practicing self-discipline

  5. Setting aside time for work

  
• Characteristics needed for good work ethics

  • Appearance
  • Attendance
  • Attitude
  • Character
  • Communication
  • Cooperation
  • Organizational skills
  • Productivity
  • Respect
  • Teamwork

  
• Steps for developing good work ethic

  1. Practice punctuality

  2. Develop professionalism

  3. Cultivate self-discipline

  4. Use time wisely

  5. Stay balanced
• Poor work ethic


  Demonstrates bad work habits, lack of productivity, lack of concern for deadlines, poor quality of work, overall disregard for the job and professionalism
• Causes of bad work ethic

  Personal traits like procrastination or lack of motivation, or external factors like poor working conditions, lack of job satisfaction, unclear expectations from superiors
• Negative work ethic


  Behavior of an individual or group that leads to lack of productivity, reliability, accountability, and unhealthy relationships (e.g. power politics, lack of social skills)
• Steps to develop good work ethic

  1. Start with your body, treat it right

  2. Eliminate distractions

  3. Measure your ethics against others

  4. Set your own standard of excellence

  5. Be dependable
• How companies can develop work ethics

  1. Set a good example

  2. Schedule employee meetings for feedback

  3. Address issues promptly

  4. Set goals and objectives
• Benefits of good work ethic create a positive ripple effect throughout the organization
• Employees with good work ethic are valuable, exhibit dependability and professionalism
• Identifying good work ethic in current workers and potential new hires can transform the company environment
• Good corporate governance


  Creates transparent rules and controls, guides leadership, and aligns the interests of shareholders, directors, management, and employees. It helps build trust with investors, the community, and public officials.
• Corporate culture model


  The organizing principle behind the values, beliefs, and attitudes that characterize a company and guide its practices
• Elements that define corporate culture

  • Hierarchy
  • Process
  • Innovation
  • Collaboration
  • Competition
  • Community involvement
  • Social engagement
• Startup culture


  • Values creative problem-solving, open communication, and a flat hierarchy. May also be referred to as innovation cultures.
• Workplaces that foster a culture of innovation


  • Believe that innovation is not the province of top leadership but can come from anyone in the organization
• Corporate governance


  The system by which companies are directed & controlled
• Elements of corporate governance

  • Board of Directors
  • Shareholders
  • Control
  • Ownership
• Elements of corporate governance

  • Transparent disclosure
  • Well-defined rights of shareholders
  • Internal control environment
  • Structured Board practices
  • Board commitment
• How to build effective Corporate Governance

  1. Build a strong qualified Board of Directors

  2. Clear define Shareholders rights

  3. Transparency
• Agency theory


  Developed in 1960's & 1970's. A principle that is used to explain and resolve issues in the relationship between business principals and their agents. Most commonly, that relationship is the one between shareholders, principals, and the company.
• Stewardship theory


  Managers consider as the stewards which means someone who is responsible to protect the best interest of the shareholders. Understanding the relationship of the ownership & management of the company.
• Resource dependence theory


  Organizations dependent on the environment
• Stakeholder theory


  The stakeholder theory derived from the works of Freeman (1984) where he identified and modeled the groups which are stakeholders of a corporation who are deemed to be the owners of the corporation.
• Scope of corporate governance

  Encompasses the structures, systems, and practices that ensure accountability of managers to stakeholders and promote transparency in corporate entities. It is essential for the integrity, growth, and stability of the economy.
• Benefits of good corporate governance

  • Better management, effective boards, reduced risk, improved decision making, and increased valuations. It also leads to enhanced operational efficiency and fosters a sustainable business environment.
• Role of corporate governance

  Underpins the integrity and efficiency of financial markets. Helps companies maintain professional relationships with employees, shareholders, customers, and creditors. Provides proper incentives for the board and management to pursue objectives in the interests of the company and its stakeholders.
• Scope of corporate good governance

  • Transparency
  • Accountability
  • Effective control procedures
  • Protection of investors
• Scope of corporate governance

  • Setting ethical standards
  • Achieving stability and growth
  • Reducing risks
  • Maintaining shareholders' good relations
• Corporate Human Rights Responsibility (CHRR)

  • Human Rights
  • Corporate Governance
  • Corporate Social Responsibility
  • Legal dimension (The Law)
• Building and sustaining a democratic, well-governed state that responds to the needs of its growing population is a key development. Various projects have been implemented to strengthen democracy and governance systems and help make them more accountable.
• Corporate governance and human rights are mutually reinforcing. Human rights principles provide a set of values to guide the work of governments and other political and social actors. They also provide a set of performance standards against which these actors can be held accountable.
• Government-mandated Corporate Social Responsibility for the protection and development of human rights in society is adding meaning to the evolving nature of social responsibility. The continuous contribution of trans corporations via CSR (keeping in mind their contribution to the growing abuse of these rights) is the need of the hour.
• Corporate Social Responsibility (CSR) is a policy of corporations to express how their organization is taking responsibility for the impact that it causes upon its employees, customers, environment, community et. al.
• While the growth of corporations creates an environment conducive to social development, on parallel lines they have impacted the environment, and raised employment concerns, workplace health, and safety issues.
• Intersection of CSR and Human Rights

  Corporate Social Responsibility is now being defined as a mechanism for organizations to create value and communicate with the stakeholders outside their contractual and legal relationships, who have a direct or indirect influence on their commercial activities. It is an "umbrella term" to define the moral responsibility of corporations to engage in business ethics.
• Globalization


  An area that is widely researched and has come to play an important role in the smooth running of businesses, locally, regionally, and globally
• Globalization


  • It has led to the obliteration of state barriers around the world, especially in the business world
  • It has led many businesses to expand their operations into various states in the same region or on a global level with ease
• Host countries


  States characterized by heterogeneity in terms of governance, and business operation guidelines that impact firms (both local and foreign) within the state