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Corporate governance gains importance across globe

Prof YRK Reddy a renowned international scholar and Founder & Head of Academy of Corporate Governance, Hyderabad said that sustainability, transparency, cultural competitiveness, strategic management, entrenching values, competitiveness in long run and activities towards community development are the key parameters to achieve good corporate governance in any organization.

Prof Reddy addressed a lecture session on “Corporate Governance in Public Enterprises -Development & Challenges” at Centre for HRD in Ukkunagaram organized by the HRD today.

Prof Reddy said that corporate governance has become a public policy priority for many countries in the world and added that governance of corporates is very important than the governance of governments in many countries.

Prof Reddy observed that “Indeed the country is proud of RINL for achieving several bench marks not only in their performance but also in corporate governance and transparent way of functioning.”

Mr AP Choudhary CMD said that corporate governance practices is very essential and success mantra for survival of any organization in the highly competitive market and added that present enterprises both in public and private world over adopting e-procurement and epayment to bring in economy and efficiency in the procurement of goods, works and services to enhance transparency and good corporate governance. The CMD said that the public generally judge a public sector enterprise on its capability to serve the “social purpose” which calls for good governance and ethics in the conduct of business. He said that the enterprises have been always to maximize productivity with minimum utilization of resources.

Mr YR Reddy director (Personnel) said that higher levels of corporate governance and competency are the need of the hour to face the challenges in the competing world. In RINL, code of ethics and independent ethics committee has been constituted to enhance corporate governance. He said corporate governance, leadership development and customer relations are the focusing areas for achieving excellence in RINL.