Good corporate governance is about ‘intellectual honesty’ and not just sticking to rules and regulations. Capital flowed towards companies that practiced this type of good governance.
Apply yourself. Get all the education you can, but then, by God, do something. Don’t just stand there, make it happen.
Ethics in business is extremely important; your reputation is all you have in life.
There is evidence of a steady erosion in trust for established authorities. As trust diminishes, so increases the demand for transparency.
Governance is the process whereby people in power make decisions that create, destroy or maintain social systems.
If people are good only because they fear punishment, and hope for reward, then we are a sorry lot indeed.
If management is about running the business, governance is about seeing that it is run properly.
Corruption is not simply a matter of theft but a betrayal of trust.
Good corporate governance, it’s about being proper and prosper.
Courage is what it takes to stand up and speak. Courage is also what it takes to sit down and listen.
You do not have to do anything improper to have a conflict of interest; it is strictly situational.
Paul J Friedman
(This story appears in the 24 July, 2015 issue of Forbes India. To visit our Archives, click here.)