This presentation deals with the importance of Corporate Governance and Corporate Compliance Management in the emerging scenario of Globalisation, Common Law, E-governance, simplification of laws and single window interface.
Nurturing & Developing The Emerging Areas Of Practice - Corporate Governance And Corporate Compliance Management
1. Nurturing & Developing the Emerging Areas of Practice Corporate Governance & Corporate Compliance Management PAVAN KUMAR VIJAY, Managing Director
2. âIn this fast changing world⊠opportunities are unlimited âŠ, and future belongs to those ⊠who grasp these opportunities before they become a necessity.â
5. Globalization What is Globalization Integration Interaction Laws Companies Business People Thus, it is a process driven by international trade and investment and aided by information technology
8. Globalized Scenario International Corporate Governance International Common Regulatory Framework Global Outsourcing of services Global work culture Quality of Competition
9. Globalization Challenges Quality of Service Time Commitment International Operational Infrastructure Qualitative competition among professionals Adherence to International standards
10. e- Governance What is e-governance? Use of Information Technology For increasing Efficiency For Simplification of Laws Service Delivery Uniformity & Transparency
13. e-governance & IT Scenario Seamless Integration of National & International Business From anywhere â Small village to big cities At anytime â Early morning to midnight. In any manner â Internet, Mobile, PDA, etc 24 X 7 Online Services Real-time Due Diligence, Rating and Compliances Global Data Banks
14. Impact of e-governance IT Driven regulatory procedures Minimization of procedural steps Minimization of Non-compliances IT Driven compliance services Strategic Role of all professionals Global services
16. In the emerging scenario of .. Globalization, Common Law, e-governance, Simplification of Laws& Single Window interface ⊠âOpportunities are unlimited âŠâ
17. âAnd Success will come only when preparation meets opportunityâŠâ
19. âNot only opportunity but Corporate Governance & Corporate Compliance Management are demands of Emerging ScenarioâŠâ
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21. Corporate Governance âCORPORATE GOVERNANCE is creation of a culture of consciousness, transparency and openness. It refers to combination of laws, rules, regulations, procedures and voluntary practicesto enable the companies to maximize the long-term shareholders value, customer satisfaction and wealth.â
25. ROLE OF STAKEHOLDERS Supply Funds, Materials and Services Value Addition and Management of Resources Give Opportunity to Co. to Satisfy their Needs SUPPLIERS CUSTOMERS HUMAN RESOURCE Adequate Returns for Funds, Material and Services Supplied Adequate Salary and Security for leading a Happy Life Best Quality Products and Customer Care at Minimum Prices EXPECTATIONS OF STAKEHOLDERS PUBLIC Potential Suppliers, Human Resources and Customers Biological, Economic and Cultural Environment PUBLIC EXPECTS PARTNERHIP FOR SUSTAINABLE DEVELOPMENT Stakeholders in Value Chain
26. Significance of CG The significance of Corporate Governance lies in the fact that its absence can undermine economicand financial stabilityâŠ
27. Significance of CG Transparency in operations Entry of Best Talent & Skill Creation of Brand Image Consciousness to adopt best practices In nutshell⊠GLOBAL GROWTH Higher Valuation Widened opportunities of services International Tie-ups Easier Access to capital (FII, VCF, Foreign Markets) Confidence of domestic & international investors
28. Who shall take responsibility A person who possesses the knowledge of Law + Management
29. Law + Management Corporate Communication Corporate Planning Legal Human Resources Knowledge of ⊠Marketing Finance and Accounts Information Technology Production And operations
40. ICSI efforts for CG Vision & Mission Vision- âTo be global leader in development of professionals specializing in corporate governance" Mission-"To continuously develop high caliber professionals ensuring good corporate governance and effective management and carry out proactive research and development activities, for protection of interest of all stakeholders, thus contributing to public goodâ
41. ICSI efforts for CG Award for Corporate Governance Post â Membership course in Corporate Governance Revision of course curriculum. Increasing number of programmes & Seminars Representations before International Regulatory Authorities for recognition of CS as a Professional for ensuring Corporate Governance
42. Future Endeavors Secretarial Standards on Corporate Governance Guidance note on Corporate Governance Practices Branding of CS ascertained with Corporate Governance Industry & Corporate Tie-ups
43. Corporate Governance is not about just doing the compliances. CG is about Managingthe Compliances. âManaging Compliances is different from Just doingcompliancesâ
47. Implementation of Compliance Services with Corporate Compliance Management The Five step process ⊠Step I : Understanding the Company Step II : Identification Step III : Evaluation Step IV : Assessment Step V : Compliance Structure
57. Tourism And Hotel Capital Market And Its Intermediaries Financial Services Textiles Banking And NBFC IT Enabled Services And BPO Drugs, Pharma And Healthcare IT Solutions Capital Goods Infrastructure, Power And Telecom Agriculture And Food Processing Media And Entertainment Engineering and Construction FMCG Industry/ Segment wise application of Laws
103. But merely optimism will not do optimism with Confidence & Right Attitude will âŠ
104. The emerging scenario requires us to reinvent everything - to think of ourselves as compared to others âŠ
105. Go IT ⊠âAdopt technology to defeat technologyâ is the latest survival mantra âŠ.
106. Go IT ⊠Reduce time consumption in repetitive tasks. Devote more time on Strategic analysis, value additions and planning. Use on-line regulatory services. Make use of exhaustive databases, checklists, research papers available online. Manage multiple tasks through IT. Use IT to shorten procedure and shift to STRATEGIES and PLANNING.
107. To become A Strategic Manager & A Corporate Planner
109. 20% Strategy Management 80% Research Filing forms & Applications Registers & Returns Checklists Focus on Procedural Compliances Present Focus of Services
110. 80% Strategy Management 20% Research Filing forms & Applications Registers & Returns Checklists Focus of services in emerging Scenario Focus on Strategical Planning
111. See the Horizon Beyond Company Law Its time to go beyond the pre-defined framework. Always say âYESâ, its my area of work
112. âJumping at several small opportunities may get us there more quickly than waiting for one big one to come along.â
113. Move with a Direction Services Provided by an Ordinary PCS Move with a new Direction No Direction Piecemeal services
114. Single Window interface call for Synergy of Brand Knowledge Capital Infrastructure Collaboration is the buzz word âŠ
115. Corporate Laws Economic Laws Taxation Laws WTO & IPR International Trade Law IT & BPO Management Consulting Finance and Accounting Brand Synergy Quality of Service Growing Revenues Knowledge Synergy Single Window Interface Growing Customers Infrastructure Synergy Global Presence Capital Synergy Growing Nations Commerce CS + CA + CWA + MBA + LLB Collaborative Commerce
117. Advantages Collaborative Commerce Enhanced Capability to compete with Global giants Global Reach Brand leverage Wider Area of Expertise Risk Minimization Active Networking and Public Relations Attraction of best talent
118. "We do not have to become heroes overnight⊠Just a step at a time, meeting each thing that comes up, seeing it is not as dreadful as it appeared, discovering we have the strength to stare it down."