Study Materials: Ethics & Governance - A Perspective
Ranjana Kumar Vigilance Commissioner
It is a well known fact that management plays a vital role in
shaping the future of any organization as the optimum utilization of all
resources hinges upon the efficacy of the management. The core of a
successful management lies in its Clarity of Vision, Plan of Action and
more importantly Execution of the Plan of Action – the real gamut of
operations as it were, and it is here that the importance of Corporate
Governance and Ethics comes into being. Our Hon’ble Prime Minister, Dr.
Manmohan Singh has said that whereas our policies and systems are good but
the implementation needs much to be desired.
Organisations are managed by Policies, Guidelines and
Systems. These are dynamic instruments, and therefore need to be reviewed
from time to time to gauge their efficacy to the said organization. This
review is all the more necessary when a lapse or an untoward incident
takes place. It could happen that the review undertaken reveals that the
said policy is very much sound and in place, however over a period of time
wrong practices have come into being, and which are the reasons for the
problems that have occurred, therefore corrective steps need to be taken
forthwith A review could also reveal that the problems have occurred in spite of
the policy in place, and which means that the policies would need to be
modified or amended as the case may be in the best interest of the organization.
