...crompton greaves limitedWipo Limited | MANAGERIAL ACCOUNTING | ASSIGNMENT 03 | | SUBMITTED BY PRIYAL CHOWKHANI R1301038 PGDM 2013-15 1. Vision/Mission statement of the Company’s Promoters and their management philosophy. Vision Statement Vision statements help to describe the organization's purpose. Vision statements also include the organization values. Vision statements give direction for employee behavior and helps provide inspiration. Strategic plans may require a marketing strategy, which could include the vision statement to also help inspire consumers to work with the organization. Vision of Crompton Greaves Limited- To become a Leading Appliances brand by offering technically superior products & services and qualitative after sale service thus enhancing the quality of life of every consumer, through an engaged team. Mission Statement Leaders should emphasize the current mission statement to employees, which clarifies the purpose and primary, measurable objectives...
Words: 5342 - Pages: 22
...Chapter: 1 Introduction: The recent wave of business scandal and ethical lapses have heightened people, press, and investor security of companies, creating demand for a corporate culture of integrity driven performance and a new corporate transparency. Management and boards now feel compelled to ensure that proper governance processes are in place to protect corporate reputation, brand image and share holder value. According to Pricewaterhouse Cooper’s 8th Annual global CEO survey (Dec 2004), 50% of retail industry CEOs believe that there is a strong relationship among all elements of GRC (governance, risk and compliance) and that effective governance can be a value driver and a benefit versus a cost, to their companies. Effective corporate governance requires management and board involvement, accountability, embracing the processes, compliance, and structure required to direct and manage the affairs of a corporation. Its overall goal is to ensure the financial viability to the enterprise and enhance share holder value. For the retail and customer industry, globalization, which entails multinational operations, various financial reporting systems, and complex supply chain with wholesalers, distributors, and multiple types of retailers, not to mention multiple brand portfolios, and various types of outlets, provides significant rationales for management and boards to develop an effective GRC program. Successful corporate governance depends largely on trade-off among the various...
Words: 15491 - Pages: 62
...World Review of Business Research Vol. 2. No. 2. March 2012. Pp. 16 - 31 Corporate Governance-Its Problems & Prospects in Banking Industry in Bangladesh Begum Ismat Ara Huq* and Mohammad Zahid Hossain Bhuiyan** Corporate Governance ensures to bring transparency, accountability and professionalism in the management system of a corporate body that enhances the credibility and acceptability to the shareholders, employees, potential investors, customers, lenders, governments and all other stakeholders. This is more true in case of Banking Industry. Since Banks deal in public money, public confidence is of outmost importance in this Industry. The study aims at finding out problems & deficiencies involved in Corporate Governance practice in Banking Industry in Bangladesh and also suggesting ways and means to remove the same in order to make the Corporate Governance practice sound and effective. In this study, both the primary and secondary data were used. The primary data relating to problems involved in Corporate Governance practice and suggestions to remove the same were collected on the basis of a questionnaire by interviewing 24 randomly selected Bank personnel such as Directors of the Board as the internal part of management and the Auditors as the external group. The secondary data were collected through an extensive literature survey on the subject. The study has identified some major problems in Corporate Governance practice in the Banking Industry of the country. The prospect...
Words: 5716 - Pages: 23
...World Review of Business Research Vol. 2. No. 2. March 2012. Pp. 16 - 31 Corporate Governance-Its Problems & Prospects in Banking Industry in Bangladesh Begum Ismat Ara Huq* and Mohammad Zahid Hossain Bhuiyan** Corporate Governance ensures to bring transparency, accountability and professionalism in the management system of a corporate body that enhances the credibility and acceptability to the shareholders, employees, potential investors, customers, lenders, governments and all other stakeholders. This is more true in case of Banking Industry. Since Banks deal in public money, public confidence is of outmost importance in this Industry. The study aims at finding out problems & deficiencies involved in Corporate Governance practice in Banking Industry in Bangladesh and also suggesting ways and means to remove the same in order to make the Corporate Governance practice sound and effective. In this study, both the primary and secondary data were used. The primary data relating to problems involved in Corporate Governance practice and suggestions to remove the same were collected on the basis of a questionnaire by interviewing 24 randomly selected Bank personnel such as Directors of the Board as the internal part of management and the Auditors as the external group. The secondary data were collected through an extensive literature survey on the subject. The study has identified some major problems in Corporate Governance practice in the Banking Industry of the country. The prospect...
Words: 5716 - Pages: 23
...essential issue for companies.1 It is a complex and multidimensional organisational phenomenon that is understood as the scope for which, and the ways in which, an organisation is consciously responsible for its actions and non-actions and their impact on its stakeholders. It represents not just a change to the commercial setting in which individual companies operates, but also a pragmatic response of a company to its consumers and society.2 It is increasingly being understood as a means by which companies may endeavour to achieve a balance between their efforts to generate profits and the societies that they impact in these efforts.3 This chapter discusses these issues. First, it describes CSR and its core principles. Second, it describes CG and narrates CG’s convergence with CSR. Third, it highlights how different economies are incorporating CSR notions in their corporate regulation. 1 Jeremy Moon and David Vogel, ‘Corporate Social Responsibility, Government, and Civil Society’ in Andrew Crane et al. (eds), Oxford Handbook of Corporate Social Responsibility (2008) 303; David Vogel, The Market for Virtue: The Potential and Limits of Corporate Social Responsibility (2005); Nada K Kakabadse, Cecile Rozuel and Linda Lee-Davies, ‘Corporate Social Responsibility and Stakeholder Approach: A Conceptual Review’ (2005) 1(4) International Journal of Business Governance and Ethics 277, 279. 2 Wilfred Luetkenhorst, ‘Corporate Social Responsibility and the Development Agenda....
Words: 16989 - Pages: 68
...an insight into the concepts of Corporate Governance and CSR which enables this researcher to generate new ideas on concepts under study. The central purpose of this research paper is to determine how companies Corporate Social Responsibility practices blended in Corporate Governance and to study integration of CSR with CG which enable future researchers to study how companies are able to sustain its Competitive edge with good CSR activities by considering some good practices followed in industry and their critical evaluations in recent events. This research sets the foundation for future study and refers literature to develop a new hypothesis in the concept of CSR. An additional objective of this research paper is to review the Literature on Corporate governance and studying the Juxtaposition of CG and ethical issues for better corporate social responsibility. Design/methodology/approach This is an exploratory research design and it is used to seek insight in general nature of Corporate Governance and Corporate Social Responsibility. Various variables of CG has been considered for the study, here an attempt is made to understand the relationship between CG and CSR and not to measure the result. Secondary Literature survey is used for data collection method. This research is aimed at very wide exploration of view and this research is an interactive in nature and...
Words: 3787 - Pages: 16
...impact example - A/cting and the GFC "mark-to market" Lonergan (2009) - if A/cting causative factor in GFC 2008/2009 1.11 Q 1.1 Logergan 'standard setters'slow reaction only cause GFC ? NO How wisdom come out? - experience /knowledge Distinguishing feature - building relevant wisdom over time Parker et al. (1989) - induce other behaviour Miller(1994) - intrinsically and inredeemable social impact IMPACT Macro level: all types of business to gain power,control…… Micro level: achieve on the motivation and behaviour 1.12 Carnegie and Napier(1996) - X accept a/cting as a 'value-free body"…… NSW WATER "RIPOFF" 1.13 Shows how a/cting info prepared and used in ways to produce outcomes that could cause changes in society. Case 1.1 1.11 Theoretical analysis of social impact example Fig1.1 Page 1 of 16...
Words: 3786 - Pages: 16
...impact example - A/cting and the GFC "mark-to market" Lonergan (2009) - if A/cting causative factor in GFC 2008/2009 1.11 Q 1.1 Logergan 'standard setters'slow reaction only cause GFC ? NO How wisdom come out? - experience /knowledge Distinguishing feature - building relevant wisdom over time Parker et al. (1989) - induce other behaviour Miller(1994) - intrinsically and inredeemable social impact IMPACT Macro level: all types of business to gain power,control…… Micro level: achieve on the motivation and behaviour 1.12 Carnegie and Napier(1996) - X accept a/cting as a 'value-free body"…… NSW WATER "RIPOFF" 1.13 Shows how a/cting info prepared and used in ways to produce outcomes that could cause changes in society. Case 1.1 1.11 Theoretical analysis of social impact example Fig1.1 Page 1 of 16 SEMESTER 2 2011 CPA 118...
Words: 3783 - Pages: 16
...Proceedings of the 41st Hawaii International Conference on System Sciences - 2008 A Study of the Causal Relationship between IT Governance Inhibitors and Its Success in Korea Enterprises Chi-Hoon Lee, Jung-Hoon Lee, Jong-Sung Park, Kap-Young Jeong Graduate School of Information, Yonsei University, Seoul, Korea chihoon@yonsei.ac.kr, jhoonlee@yonsei.ac.kr, bizajou@yonsei.ac.kr, jeongky@yonsei.ac.kr Abstract In recent years, the emergence of the term IT Governance (ITG) has pointed to the increasing importance for business of effecting an alignment between its strategic direction and IT units. Many leading organizations have turned to ITG to pursue gains in efficiency, accountability, and regulatory and other forms of compliance, without, however, being able to implement coherent IT schemes on account of a number of challenging issues. Despite the growing interest of academics and practitioners in this area (as attested in recent publications), few studies have characterized the practical inhibitors frustrating the implementation of effective ITG. This paper, therefore, aims to examine empirically how inhibiting features associated with ITG affect the success of IT activities. Through a literature review, we identify 5 factors that work to restrain ITG implementation. Further, this work presents survey data gathered from 96 leading companies in Korea reporting the status of ITG practices according to a specific instrument of its own design. 1....
Words: 5949 - Pages: 24
...Financial Accounting Focuses on reporting to external users including investors, creditors, banks suppliers, & governmental agencies. Financial Statements must be GAAP based. Management Accounting Processes of measuring, analyzing, and reporting financial & non-financial information that help managers make decisions to fulfill the goals of an organization. Managers use management accounting information to: 1. Develop, communicate, and implement strategies 2. Coordinate product design, production, and marketing decisions and evaluate a company’s performance Cost Accounting Measures, analyzes, & reports financial & nonfinancial information related to the cost of acquiring or using resources in an organization What are costs but never an expense? Good Will & Land Inventory Is a cost until it is sold then it is an expense Value Chain (definition) The sequence of business functions by which a product is made progressively more useful to customers Six primary business functions of the Value Chain 1. Research & Development 2. Design of products & processes 3. Production 4. Marketing (including sales) 5. Distribution 6. Customer Service Research & Development Generating and experimenting with ideas related to new products, services, or processes Design of products & processes Detailed planning, engineering, and testing of products and processes Production ...
Words: 1661 - Pages: 7
...down the framework for creating long-term trust between companies & the external provides of capital | 19 | d. He has to ensure that his work involves exercise of judgment. | 20 | b. Stewardship Theory | Section B: Short Notes | Question | Answer | 11(continued)1(continued) | Clause 49The term ‘Clause 49’ refers to clause number 49 of the Listing Agreement between a company and the Stock Exchanges on which it is listed. The Listing Agreement is identical for all Indian Stock Exchanges, including the NSE and BSE. This clause is a recent addition to the Listing Agreement and was inserted as late as 2000 consequent to the recommendations of the Kumar Mangalam Birla Committee on CG constituted by SEBI in 1999. Clause 49, when it was first added, was intended to introduce some basic CG practices in Indian companies and brought in a number of key changes in governance and disclosures (many of which we take for granted today). In late 2002, the SEBI constituted the Narayana Murthy Committee to “assess the adequacy of current corporate governance practices and to suggest improvements.” Based on the recommendations of this committee, SEBI issued a modified Clause 49 on October 29, 2004 (the ‘revised Clause 49’) which...
Words: 4860 - Pages: 20
...CHAPTER ONE The Organization 1.0 Introduction United Commercial Bank Limited (UCBL) is a Bangladesh based private commercial bank that provides banking services. The services include corporate and retail banking, loans, credit cards, online banking and money transfer services. The bank operates in Bangladesh having its headquarter in Gulshan, Dhaka. UCBL has its firm commitment towards the society for the economic development of the country. Their position is 6th among the 52 banks which include 10 specialized banks, 9 foreign banks and 30 private banks. So the bank has already become a significant part of our economy by serving its clients through their personalized service, innovative practices, dynamic approach and efficient Management. At present, UCBL is aiming to play a leading role in the economic activities of the country, planning to establish more sustainable business relations with large corporate groups and overcome all its deficiencies and give their competitors an edge. 1.1 History United Commercial Bank Limited (UCBL) is considered as one of the first generation bank of Bangladesh. It was incorporated on 26th June 1983 as a public company with limited liability under the Companies Act 1993. It obtained permission to start business from 26 June 1983 and started banking operations on 29th June 1983 with an authorized capital of Tk. 100 million divided into 1 million ordinary shares of Tk. 100 each. 1.2 Vision of the UCBL To hold the position...
Words: 7110 - Pages: 29
...Winter Internship Report on the basic study of Corporate Governance and Comparative Analysis Of The Annual Reports of Vizag Steel and TATA Steel At Vizag Steel Submitted in partial fulfillment of the requirements by NALSAR University Submitted By Sushma Yanamadala ( Centre for Management Studies National Academy of Legal Studies and Research Shameerpet, Secunderabad. Certificate from Company Declaration I hereby declare that the project entitled “Corporate Governance and Comparative Analysis of the Annual Reports of Vizag Steel and TATA Steel” submitted to the NALSAR University of Law, Centre for Management Studies, Secunderabad has been prepared by Sushma Yanamadala in Corporate Governance Department at Vizag Steel, Vishakapatnam. This embodies the data collected and analyzed under Mr.S.SakthiMani, Company Secretary, at Vizag Steel and hereby approved. The data collected for the analysis and report was provided by Vizag Steel, and was asked to use this information only, which include the company profile, annual reports and articles that have been used for reference. Place: Vishakapatnam Date: Signature of the candidate --------------------------------- ACKNOWLEDGEMENT ...
Words: 5316 - Pages: 22
...Assignment-1 Topic October 21, 2013 October 21, 2013 Submitted to The Banking SECTOR SUFFERS FROM DISCIPLINE DEFICIT The Banking SECTOR SUFFERS FROM DISCIPLINE DEFICIT Barrister Arife Billah LAW-200 Sec-1 Submitted by Antu Biswas 102 0044 030 Introduction The banking system of Bangladesh at independence consisted of two branch offices of the former State Bank of Pakistan and seventeen large commercial banks, two of which were controlled by Bangladeshi interests and three by foreigners other than West Pakistanis with fourteen smaller commercial banks. The newly independent government immediately designated the Dhaka branch of the State Bank of Pakistan as the central bank and renamed it the Bangladesh Bank. The Bangladesh government initially nationalized the entire domestic banking system and proceeded to reorganize and rename the various banks. Foreign-owned banks were permitted to continue doing business in Bangladesh. The insurance business was also nationalized and became a source of potential investment funds. Cooperative credit systems and postal savings offices handled service to small individual and rural accounts. The new banking system succeeded in establishing reasonably efficient procedures for managing credit and foreign exchange. Now, banks in Bangladesh are primarily of two types: Scheduled Banks: The banks which get license to operate under Bank Company Act, 1991 (Amended in 2003) are termed as Scheduled Banks...
Words: 2936 - Pages: 12
...9-204-109 REV: OCTOBER 23, 2006 MIHIR DESAI Globalizing the Cost of Capital and Capital Budgeting at AES In June 2003, Rob Venerus, director of the newly created Corporate Analysis & Planning group at The AES Corporation, thumbed through the five-inch stack of financial results from subsidiaries and considered the breadth and scale of AES. In the 12 years since it had gone public, AES had become a leading independent supplier of electricity in the world with more than $33 billion in assets stretched across 30 countries and 5 continents. Venerus now faced the daunting task of creating a methodology for calculating costs of capital for valuation and capital budgeting at AES businesses in diverse locations around the world. He would need more than his considerable daily dose of caffeine to point himself in the right direction. Much of AES’s expansion had taken place in developing markets where the unmet demand for energy far exceeded that of more developed countries. By 2000, the majority of AES revenues came from overseas operations; approximately one-third came from South America alone. Once a critical element in its recipe for success, the company’s international exposure hurt AES during the global economic downturn that began in late 2000. A confluence of factors including the devaluation of key South American currencies, adverse changes in energy regulatory environments, and declines in energy commodity prices conspired to weaken cash flow at AES subsidiaries and hinder...
Words: 8674 - Pages: 35
