What do you understand by ‘moral integrity’ and ‘professional efficiency in the context of corporate governance in India? Illustrate with suitable examples. (150 words)
Moral integrity and professional efficiency are two essential components of corporate governance in India. These concepts play a crucial role in ensuring that businesses operate ethically and effectively.
- Moral integrity refers to the adherence to ethical principles and values by individuals and organizations. It involves honesty, fairness, and accountability in decision-making and actions.
- Example: Tata Group, a leading Indian conglomerate, is known for its strong ethical values and commitment to corporate social responsibility.
- Professional efficiency pertains to the ability of an organization to achieve its goals and objectives through optimal utilization of resources, effective decision-making, and competent management.
- Example: Infosys, a global IT services company, has consistently demonstrated professional efficiency through its innovative solutions and strong financial performance.
In the context of corporate governance, moral integrity and professional efficiency work together to create a transparent, responsible, and sustainable business environment. Companies that prioritize these principles are more likely to gain the trust of stakeholders, maintain a positive reputation, and achieve long-term success.
