Workshop Report
According to the third panelist Mr. P.K. Abrol, the corporate governance as a concept might have come into prominence recently, but has been practiced in households, families, non-corporate structures etc. as an unwritten code since ages. In the context of the complete integration of Indian market with the global market, it is crucial to safeguard the market and economy from globally destabilizing forces and vulnerabilities and to achieve sustainable growth that will benefit not only the shareholders but also the stakeholders. Corporate governance and a competitive environment are important for achieving sustainable growth rates. He shared his experience of working with three generations of chairmen and how with passage time in order to keep abreast with growing business models as well as competition there was change in value systems. Mr. Abrol mentioned a number of initiatives which a proactive company could take to protect and restore environment and promote sustainable development with products, processes, services and other activities He concluded by emphasizing the role of teachers, regulators and professionals in improving corporate governance practices.
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