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Importance Of Business Ethics And Good Governance for SMEs

by Bhairav Kothari

Today’s business environment is very fluid and high risk. This makes it all the more challenging for SMEs to develop a Corporate Governance program that is clear and straightforward. This will show the investors and customers that the intentions of the company are noble and that it is committed to being a responsible entity in the global marketplace. SMEs should be able to learn from the best practices, procedures and core set of beliefs of the bigger corporations and go about ameliorating them. Fundamentally the owners and managers in SMEs must harmonize the competitive aspects of tempting profiteering with concerned citizenship. They must take individual responsibility for the decisions and activities of their enterprises and their impact on the culture of their enterprise and its stakeholders. All organizations should look at the big picture with respect to the physical environment and the prospects for the ensuing generations.

The following presentation takes a concise view at the growing importance of Business Ethics and Corporate Governance in today’s cutthroat global marketplace. It covers topics like

Board of Directors – Basic Requirements
Board of Directors – Key Roles
Board of Directors – Fundamentals of Good Governance
Salient Features for Third Party  transactions like
Transparency, Regulatory Compliances, Disclosures and the eternal CEO vs. Promoter conflict.

This short presentation was delivered at the SME Finance and Investment Summit held at Hotel InterContinental The Lalit, Mumbai, India on 21stDecember 2010.


1 Comment

  1. spinal says:

    Although i dont usual like to comment, occasionally i know i need to. This is one of those times, cheers for your excellent post.

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